2008 Survey of Health Care Consumers Uncovers Important Opportunity for Life Sciences
Recognizing consumers’ unmet needs could provide a distinct competitive advantage
Health care “consumerism” has been a buzzword for years, but what do life sciences companies and other industry stakeholders really know about consumers’ behaviors, attitudes and unmet needs?
The Deloitte 2008 Survey of Health Care Consumers suggests that there are distinct consumer segments with diverse, unmet needs and preferences that present opportunities for pharmaceutical manufacturers, biotechnology firms, and medical product, technology and device manufacturers to fill the void. To capitalize on this opportunity, however, organizations need to consider new strategies, capabilities and investments.
Opportunities for Life Sciences Companies in a Consumer-Driven Market, a new paper from the Deloitte Center for Health Solutions, part of Deloitte LLP, identifies challenges and opportunities based on the survey findings for the development and promotion of life sciences products and services. Among areas of great promise are:
- Developing products, services and programs that integrate with a holistic view of health and health care, with greater emphasis on prevention and lifestyle modification
- Partnering with new players to take advantage of opportunities arising from new care delivery models, consumer interest in alternative medicine and medical tourism
- Leveraging consumers’ use of Web sites for information about the benefits, risks, quality and costs associated with medications and medical devices
- Redesigning segmentation, messaging, targeting and channel strategies to meet consumers’ evolving needs.
Life sciences companies that tailor their products and services to meet consumers’ evolving needs and preferences could gain a distinct competitive advantage and achieve profitable growth in the evolving marketplace.