Pharmaceutical prices are known to experience big fluctuations over short time frames. A dynamic pricing strategy should take into account the different factors that influence buying decisions, in order to present optimum value for each product in its market.
In establishing a strategy, a wide range of decision-makers have input, including researchers, patients, public and private health organisations, doctors, politicians and regulatory bodies.
A good pricing strategy can maximise your chance of a good ROI for your pharmaceutical products, with returns of 10:1 being realistic in some markets. This depends on having the data to hand that lets you leverage the market value of your product at different parts of the development cycle.
The Value Of Pricing Data
Such data can not only help you establish realistic pricing, but also guide investment into research and product development, marketing considerations and how to overcome market-specific challenges
Our strategy for analysing pricing trends takes many different overlapping factors into account.
At Black Swan Analysis we help you answer key questions such as:
- How do pricing trends vary across different regions and countries?
- How do prices vary following country price re-evaluations and once a generic counterpart enters the market?
- What are the epidemiological trends for the disease treated by your product?
- What factors are likely to drive or decrease the value of your product over time?
- How does your product value relate to similar developments by competitors?
- How does your product compare between different classes of products and against the current standard of care?
Pricing research plays a crucial role in pharmaceutical research and development. With millions of pounds invested in developing products, accurate market research is vital to ensuring your company’s profitability and competitiveness in the global market. Our team at Black Swan Analysis give you the insight you need to target your resources and optimise your market share.
Establish The Best Pricing Strategy For Your Pharmaceutical Products
Pharmaceutical prices change rapidly and often with little warning. For a pricing strategy to be successful it should be responsive to emerging trends and factors that affect demand – such as epidemiological data, political changes and new medical developments. To help you navigate the complex field of pricing strategies for pharmaceutical products, we have written a Guide 'Pharmaceutical Pricing Data Influences Pricing Strategies in Launch Programs', a free downloadable resource you can access by clicking here.