Life sciences consumerization
As out-of-pocket costs continue to rise, consumers are ever more sensitive to the value and price of health products, and are increasingly opting for generic and discount brands when they cannot discern a clear advantage to buying premium brands. Life sciences companies are pursuing consumerization in order to better focus on and respond to the needs of these new, financially-minded healthcare consumers.
PwC’s Strategy& assists pharmaceutical, biotech, medical devices, and diagnostics companies to develop the business models, capabilities, and product portfolios that will enable them to more efficiently and effectively compete in consumer-centric markets. The capabilities-driven strategies that we work with our clients to develop identify and capture new opportunities for growth by fostering consumer engagement. Built upon a foundation of successful assignments for life science companies, their customers, and their regulators, the breadth and depth of our experience and expertise in the sector is unparalleled.
Our thought leadership
The days of the disengaged health consumer are numbered. Consumerization will transform healthcare systems, involving individuals as never before in the management of their own care.
A robust retail market is emerging from the ashes of the current health-care system.
A top-tier global pharmaceutical company engaged Strategy& because, after having developed a powerful new combination therapy, it discovered that low levels of patient adherence and compliance were undercutting the drug’s effectiveness and sales.
A pharmaceutical company was struggling to grow revenues for several key primary care products by tapping into ‘lost patients’ that fell out of the diagnosis/treatment/fulfilment pathway. Strategy& was engaged to analyze the market opportunity, identify critical “pain points” and characterize value capture opportunities which could be addressed by digital solutions.
How we help our clients
Strategy& offers a full suite of consumerization services for life sciences companies that are seeking to address consumers and consumer-driven changes in today’s global healthcare systems:
Direct-to-patient services assist our clients as they work to enhance their existing channels through the development and seamless integration of patient-centric tools, such as eHealth, DocFinder, and adherence and compliance applications.
Consumer product goods enabled growth services enable our clients to understand and generate desired consumer behaviors using analytical tools and best practices derived from the consumer product goods industry.
Patient-centric value-beyond-the-pill services enable our clients to complement their traditional products offerings with value-added services designed to improve patient adherence, compliance, and outcomes.
Patient advocacy association focused partnership services support our clients as they seek to foster cooperation and build relationships with patient associations in their quest to deliver value to consumers and other stakeholders.
Consumer-centric medical management transformation services assist our clients to simultaneously decrease costs and capture the full potential of their product from lower hospital admissions and disintermediation power.