A digital wave is sweeping across the $17 billion Indian pharmaceutical industry and companies are dumping old ways of marketing for newer technology, a survey of 20 top drug makers in the country has found. This new technology ranges from scientific detailing to doctors to using newer algorithms for better insights into issues like patient compliance. The trend matches a similar switch in China over the last few years.
The pharma industry’s marketing spends through digital platforms is estimated to shoot up nearly 50% in the next two years to touch Rs 220 crore, Bengaluru-based market research firm Indegene’s study shows. Mobile apps and social media are set to play a bigger role in this growth, the study that is part of a larger report on global digital marketing trends found. Indegene executive vice president Gaurav Kapoor says this will help India catch up with tech-savvy emerging markets peers like China, where nearly half the companies are expected to allocate more than a fifth of their marketing budget to digital marketing by 2018.