eDetail solutions are in transition from pilot programs to large-scale ones that offer broader reach and scalability to life science companies’ marketing efforts. The life sciences industry is utilizing the eDetail as a highly effective method for promoting brands and increasing reach among physicians with greater frequency.
New analysis from Frost & Sullivan (healthcare.frost.com), Emerging U.S. eDetailing Markets for Life Science Companies, reveals that market revenues totaled $44.5 million in 2004 and is expected to reach $103.4 million in 2009.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the Emerging U.S. eDetailing Markets for Life Science Companies then send an e-mail to Melina Gonzalez - Corporate Communications at melina.gonzalez[.]frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.
“Increased contact with physicians, controlled promotional material, and immediate feedback and reporting analysis help position the eDetail as a leading eMarketing strategy,” says Frost & Sullivan Industry Analyst Steve Tobin. “EDetail actively engages physicians with a controlled and succinct promotional message and, if correctly implemented, can significantly augment the efforts of the sales force.”
A typical eDetail program reaches 2,500 physicians, while life science companies are aiming at reaching 10,000-25,000 physicians. To achieve this target, they have to use highly interactive and customizable next generation eDetail technologies and mechanisms that assist in creating a robust and broad experience that produces message equity and retention for the physician.
eDetail companies transitioning from slide-deck style programs to next-generation, in-depth eDetail interactive programs and marketing services are likely to see significant market share growth and increased brand equity. Unless the eDetail companies prove the value of the investment, product teams will continue to utilize eDetails as only an adjunct marketing method.
Currently, the eDetail market is at an inflection point. Critical to the future of the industry, the inflection point refers to the potential large-scale adoption of eDetail solutions by drug companies.
While various factors such as internal restructuring of life science companies’ sales force and extensive implementation of their eMarketing strategies necessitate greater use of the eDetail platforms, numerous other factors restrain their large-scale adoption.
“Nevertheless, companies with superior product offerings, high-level knowledge of the eDetailing process and customer product life cycle, and solid customer service are expected to experience remarkable growth as several of their existing or new customers increase their use of eDetailing or switch to longe-term subscription-based pricing models,” notes Tobin.
Emerging U.S. eDetailing Markets for Life Science Companies is part of the Life Sciences Information Technologies (9654-B1) service and looks at the emerging U.S. eDetailing markets and the associated segments – vendor, customer, physician, and competing business models. The study discusses the prevailing challenges and provides strategic recommendations to overcome them. It also provides information on the growth trends, competitive structure, market opportunities, and strategic implementation guidelines. Analyst interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
Emerging U.S. eDetailing Markets for Life Science Companies
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Keywords in this release: eDetailing, U.S., life science, slide-deck, customer, physician, competing business models, eMarketing, research, information, market, trends, technology, service, forecast, market share