Healthy Skepticism Library item: 13855

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

May J, Cohen R.
Industry Insider: A click closer to Rx information
The Star Ledger 2008 Jun 12
http://www.nj.com/business/index.ssf/2008/06/industry_insider_a_click_close.html

Full text:

More consumers are going online to look up information about medications, and they’re more likely to click on prescription drug ads they find there, a new survey about direct-to-consumer ads in the pharmaceutical industry found.

Some 53 percent of consumers use the internet to get prescription drug information, compared with 41 percent a year ago, according to the annual survey by Prevention, Men’s Health and Women’s Health magazines. Some 10 percent of those online information seekers have clicked on a banner ad for a specific drug, double the percentage from a year ago.

“Along with the doctor and pharmacist, the online component has become the third leg of the stool as consumers learn about drugs,” said Cary Silvers, director of consumer insights at Rodale, publisher of the three health-related magazines that sponsored the survey.

More than 1,500 people were polled in March for the survey by Princeton Survey Research Associates. Some of the other findings:

-Some 75 percent of consumers do not think a doctor’s presence in an ad makes a drug seem more effective.

-Some 63 percent of consumers notice brochures or posters about prescription drugs in their doctor’s offices.

-Some 77 percent of consumers who saw an ad for a drug and specifically asked for it were given a prescription for the treatment by their doctor.

-Some 56 percent of consumers said they do not follow news stories about drug companies.

Global growth expected
Although facing its share of difficulties, the global pharmaceutical industry remains a growth engine that will reach $1 trillion in revenue by 2013, according to a new market research report.

Massachusetts-based BCC Research said the global market for pharmaceuticals was worth $693.6 billion in 2007, and it is expected to increase to $737.6 billion in 2008 and top $1 trillion in 2013.

Branded prescription drugs had the largest share of the market last year, with $525.1 billion in sales, and is expected to grow to $553.2 billion in 2008 and $741.5 billion by the end of 2013, the report said.

The second-largest segment, generic prescription drugs, is projected to experience the highest growth rate. Worth $78.5 billion in 2007 and an estimated $88.7 billion in 2008, it will reach $151.4 billion worldwide by the end of 2013.

The over-the-counter drug segment, which was worth $90 billion in 2007, should increase to $95.7 billion in 2008 and reach $135.1 billion in 2013, according to the report.

“The worldwide pharmaceutical industry remains one of the most profitable and stable industries,” the report said.