Trends in the pharmaceutical sector require planning and strategic action
Source：Saúde Business
From：Taiwan Trade Center Do Brasil
Update Time：2024/09/16
The pharmaceutical sector in Brazil is going through a time of transformation. Due to changes in consumer behavior, technological advances and innovations throughout the production chain, the segment faces a number of challenges in the coming years. Keeping up with trends is not simple task: corporations that want to be at the forefront face several challenges that demand attention and strategic action from managers. These trends and challenges are linked to the sector's growth and impact the entire chain.
Increased consumption: In the last two years, global consumption of medicines has increased by around 30% per year. In 2019, the sector's turnover grew by more than 60%, from R$90.5 billion to around R$140 billion, according to data from Interfarma. And the growth is expected to continue.
Market size: It is estimated that by 2027, annual spending in the Brazilian pharmaceutical sector will increase by between 9% and 12% per year. In the most favByrket would be worth around R$ 300 billion by 2027.
Brazil stands out as one of the most promising pharmaceutical markets in the world. In the first half of 2024 alone, the sector was the only online retail segment to record growth of 16%. This change reflects the new consumption habits of Brazilians following the pandemic.
To take advantage of the full potential of this market expected in the coming years, managers must invest and devote planning to management. The pharmaceutical segment - from industry to retail - must also automate processes and use data and technologies to overcome challenges in e-commerce, logistics, and adequate production to serve the market. To achieve this, companies and the sector need to consider several initiatives:
- Definition of the e-operating model: managing Push and Pull boundaries and a strategy of postponing the decision on what to produce.
- Demand forecasting model: forecast the need for each Stock Keeping Unit (SKU) over pre-defined horizons, generating inputs for production decision-making.
- Optimizing stock policies: ensuring the optimum ratio between stock investment and service level for each SKU.
- Defining product groupings and structuring matrix control between product managers and the commercial area.
- Evaluating market potential by product and sector and negotiating intelligent targets with the commercial area.
- Supporting the team of product managers and the commercial area in defining the action plans necessary and sufficient to achieve the targets.
- Optimizing the marketing processes to increase the sales team's productivity.
- Improving the analytical and planning capacity of the sales force, along with improving the tools used in the field.
- Carrying out theoretical and practical training on routines with the sales team.
- Adjust agendas and implement a calendar of results meetings covering all hierarchical levels of the company.
- It improves the demand planning process and its consequences using artificial intelligence tools.
The national pharmaceutical sector is going through significant changes and great opportunities. Following trends requires planning, management, and business balance. This combination, when adopted, allows companies in the segment to have a more efficient present and a promising future in terms of performance and results.
Source: https://www.saudebusiness.com/industria/tendencias-do-setor-farmaceutico-exigem-planejamento-e-acoes-estrategicas