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Paris, the largest city of continental Europe is over 2,000 years old and has certainly seen its share of both Revolution and Evolution during that time. The fact that it has emerged bigger, stronger and in an even more influential position internationally than at any time in its past, implies that we should not be unduly apprehensive about the potential changes anticipated in our healthcare industry.
Despite its shorter history, the Healthcare market has seen a level of change which some might argue is of the same magnitude as the notorious periods linked to Parisian history. Indeed, each decade since the 1950’s has resulted in the need for wide-ranging alterations in Pharmaceutical business practices in order to remain competitive. The pace of change has been increasing at an alarming rate, and that lies behind the rationale for the theme of this Conference.
We all need to take care to ensure that the healthcare industry is not caught in its own revolutionary trap. While some are already aware that;
- Conventional markets that have for many years promised to underwrite sales and profits are no longer the guarantee they once were, yet companies are still slow to embrace other markets.
- Companies appear at best, slow, at worst unwilling, to adjust their corporate branding approaches to optimize local healthcare conditions.
- Incorporating the patient perspective to support the brand’s value proposition is still not being fully addressed.
- The shifting growth dynamics are forcing changes to the existing Pharma Model. The Emerging Markets, those that are Specialist Driven and patent protected are key drives of growth. Primary Care will no longer be the key driver for growth despite its dominance as a segment.
If we do not start to help management better understand these changes and the way they will impact the business then we should not be surprised about being caught up in events that we have very little control over! We want Evolution NOT Revolution!
Who would have thought that Disney would successfully “invade” the Paris environs with its American based theme park? Surely Revolution not Evolution?
Such bold and dramatic changes in Paris might be considered a Revolution, but now, even after a few years, these decisions appear ‘visionary, logical and appropriate’.
Within our Healthcare industry, we need to act with much greater purpose and our own vision to ensure the business model is sustainable. The bold decisions made by those governing Paris have contributed to its wide appeal as a destination and place to do business. With circa. 40M visitors annually, it is the most popular tourist destination in the world. As key individuals involved in business decision making, market researchers must be the ones to innovate and implement new procedures to embrace change. If we do not then we only have ourselves to blame as we start to face a similar uncertainty to that of Paris in the late 1700’s.
So, enjoy the Conference, network and be stimulated! |