Decoding Indian Pharma’s Approach to Digital Adoption and Transformation in a COVID-19 Constrained World

First Ever India Centric Survey: A CredoWeb – MedicinMan Research Project

The current challenges faced by Indian Pharma:

• Sales are declining in most cases. However, the sales of established brands are steadily growing, even with the field force unable to meet doctors at pre-COVID levels.
• Most non-COVID patients are unable to access doctors due to various constraints, forcing doctors to quickly adopt digital in some form.
• Healthcare is at an inflection point, where digital adoption has become a necessity to fix its inefficient and already broken model of decreasing interest by physicians to meet Medical Reps, poor quality and high attrition of field force, legacy systems and lack of customer engagement and experience oriented marketing.

Solutions: The current pandemic may continue for an uncertain period of time – estimates from 12 to 24 months – by which time certain fundamental behavior change would have been cemented, with regards to consumers adopting technology as has already happened with other areas, be it banking, transportation and other conveniences (Ola, Dunzo, Swiggy, Amazon, PayTM, Swiggy and a plethora of consumer services).

Indian Pharma will need to adapt business practices to deliver treatments and services for patients by increasing investment in digital technologies and supply chain management.

Keeping these challenges in mind, MedicinMan in partnership with CredoWeb, set up the Digital Excellence Pharma Academy (DEPA), as a knowledge sharing platform with thought leaders from Indian and global pharma to share experiences, insights and case studies.

As a part of DEPA, we also initiated a research project with a detailed survey to understand the current status and issues faced by Indian Pharma companies in adopting digital to bridge the pharma – physicians disconnect.

You can know more about the scope and scale of this research project and survey at  https://anupsoans.typeform.com/to/T3ccrxlF

The Change (Digital) Adoption Curve from COVID-19 Crisis to Digital Transformation

To watch the first discussion on the Digital Excellence Pharma Academy research project that aims to understand the Indian Pharma people’s perspective, register for today’s webinar on – https://www.credoweb.in/discussion/560/decoding-indian-pharmas-approach-to-digital-adoption-and-transformation-in-a-covid-19-world

In this session by Deep Bhandari, we share the preview of the research project.