Pharmaceutical Market Research and Analytics

About Author:
Knowledge Perks,
Gurgaon, Gandhinagar, India
knowledgeperks@gmail.com

Almost 10 years back two major trends led to the development of ever growing analytics industry.

• First was the development of high end computers  and smart analytics software’s (Paid as well as open source software’s
  
• Increase in data being generated due to revolutions like social media, blogs, internet, social networks, computerized retail outlets etc.
  
• Increasing trust of west into talent available in India which resulted in more complex, work which involves critical decision making too being outsourced to India
  

Development of overall analytics industry saw a significant contribution from pharmaceutical or healthcare market research and life science sector as well. This was very evident as lot of pharmaceutical MNC,s and consulting companies opened their Knowledge centres in India. These companies slowly evolved from doing simple task like secondary search and data handling to more complex tasks which involved them in business related decision making both at research and commercial front. Below are examples of some of these projects typical done in pharmaceutical market research and analytics

These companies look for below mentioned set of profiles or their combinations apart from other desired skill sets:
· B. Pharma
· M Pharma
· MSc Life Sciences
· MBA pharmaceutical marketing
· MBA Biotechnology

However area of concern here is that there is a wide gap between academic and industry in terms of skills sets of the students and required skill sets of the industry. This is natural as the academics syllabus is not evolving at same pace as the industry does. There is a need to fulfil this gap by devising special training programs to train these students and develop below mentioned skill sets in them

• Business English and business etiquettes
  
• Industry awareness especially in pharmaceutical and healthcare vertical and horizontals within that
  
• MS office packages: For developing data handling, data cleaning, data analysis, data presentation and report writing skills
  
• Primary research and secondary research techniques
  
• Syndicated databases introduction
  
• Methodology development and approach to case studies
  
• Epidemiology based concepts
  
• Business intelligence and competitive intelligence like clinical trial analysis and drug pipeline analysis etc.
  
• Medical terminology and standards of sourcing
  

A lot of colleges are taking a big step to address this issue by including internship program within the curriculum for a period ranging from 3 months to 6 months. Unfortunately this step has been taken by a limited number of colleges.

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