Pharma Sales Forces: Mexico
Enchiladas, cerveza, sombreros and ponchos: Forget what you thought you knew about Mexico.
With the 11th largest economy in the world and a pharmaceutical industry expected to hit $14.9 billion by 2014, Mexico is increasingly considered one of the industry’s hotspots for development.
As more and more companies like Japan’s Takeda move into the market to establish their share, it’s not hard to see why. Despite one of the most unequal distributions of wealth in the world, Mexico is one of the fastest growing economies and attracts significant foreign investment every year. According to one industry expert, while the seven leading markets will contribute just over half of the industry’s overall growth, the seven pharmemerging markets—with Mexico at the forefront—will add nearly 25 percent growth.
And that’s not the only trend Mexico is bucking. In an era where traditional ‘medical visitor’ sales models are faltering and increasingly eschewed in favour of technology-based approaches, Mexico’s sales force is stable and even increasing in size. What’s more, the country’s pharma companies are leading the way in experimenting with new sales initiatives such as discount cards, outsourcing sales, and area and physician segmentation models.
So who is taking advantage of Mexico’s vibrant and evolving market?
Key insights from expert sources
In Pharmaceutical Sales Forces: Mexico, FirstWord contrasts the Mexican sales environment against the global picture to establish how the nation rates and why. In a fascinating and timely report, FirstWord delves into the performance of key pharmaceutical companies, how traditional sales models fit the Mexican profile, and why there are new initiatives being trialed, such as the use of Contract Sales Organisations (CSO), discount cards, segmentation models, sales training consultancies and the Customer Relationship Management (CRM) tools. Based on in-depth research and interviews with industry experts, the report offers a measured examination of Mexico’s potential—and how to tap into it.
The report reviews the Mexican market and economy to discover:
The report
Key pharmaceutical companies profiled
With the 11th largest economy in the world and a pharmaceutical industry expected to hit $14.9 billion by 2014, Mexico is increasingly considered one of the industry’s hotspots for development.
As more and more companies like Japan’s Takeda move into the market to establish their share, it’s not hard to see why. Despite one of the most unequal distributions of wealth in the world, Mexico is one of the fastest growing economies and attracts significant foreign investment every year. According to one industry expert, while the seven leading markets will contribute just over half of the industry’s overall growth, the seven pharmemerging markets—with Mexico at the forefront—will add nearly 25 percent growth.
And that’s not the only trend Mexico is bucking. In an era where traditional ‘medical visitor’ sales models are faltering and increasingly eschewed in favour of technology-based approaches, Mexico’s sales force is stable and even increasing in size. What’s more, the country’s pharma companies are leading the way in experimenting with new sales initiatives such as discount cards, outsourcing sales, and area and physician segmentation models.
So who is taking advantage of Mexico’s vibrant and evolving market?
Key insights from expert sources
In Pharmaceutical Sales Forces: Mexico, FirstWord contrasts the Mexican sales environment against the global picture to establish how the nation rates and why. In a fascinating and timely report, FirstWord delves into the performance of key pharmaceutical companies, how traditional sales models fit the Mexican profile, and why there are new initiatives being trialed, such as the use of Contract Sales Organisations (CSO), discount cards, segmentation models, sales training consultancies and the Customer Relationship Management (CRM) tools. Based on in-depth research and interviews with industry experts, the report offers a measured examination of Mexico’s potential—and how to tap into it.
The report reviews the Mexican market and economy to discover:
- Why Mexico is leading the way in pharmemerging markets
- How traditional sales models are thriving and which new initiatives are emerging
The report
- Examines the current growth and sales results from leading pharma markets
- Overviews Mexico’s strengths, potential and drawbacks
- Offer key insight into the duality of Mexico’s wealth distribution and how that affects the pharmaceutical industry
- Reviews the current state-of-play for more than eight pharma leaders establishing themselves in Mexico
- Analyses new sales initiatives such as CRM, CSO, discount cards and market segmentation
Key pharmaceutical companies profiled
- AstraZeneca
- GlaxoSmithKline
- Pfizer
- Novartis
- Eli Lilly
- Merck
- Ranbaxy
- Takeda Pharmaceutical
EXECUTIVE SUMMARY
THE GLOBAL PHARMACEUTICAL INDUSTRY
THE PHARMACEUTICAL INDUSTRY IN MEXICO
The Mexican pharmaceutical market: Sales values
A co-existence of poverty and economic growth
A frontier market: the FDA moves in
Vying for market share: some recent activities in the Mexican pharmaceutical market
ANNOUNCED JOB AND BUDGETARY CUTS IN THE INDUSTRY DO NOT INCLUDE MEXICO
AstraZeneca
GlaxoSmithKline
Pfizer
Eli Lilly
Novartis
Merck
Ranbaxy
Japanese Companies
IN SEARCH OF A MEXICO-SPECIFIC PHARMACEUTICAL SALES MODEL
Pharmaceuticals changing their marketing strategies
Contract Sales Organizations (CSO): Part of a new model
Marketing and pharmaceutical firms begin to team up in Mexico
Toying with the traditional sales model in Mexico
GSK
Pfizer
National pharmaceutical companies
Experimenting with New Initiatives
Discount cards
CRM tools
Segmenting the sales force
Selected companies offering outsourcing services to the pharmaceutical sector in Mexico
INDEX
THE GLOBAL PHARMACEUTICAL INDUSTRY
THE PHARMACEUTICAL INDUSTRY IN MEXICO
The Mexican pharmaceutical market: Sales values
A co-existence of poverty and economic growth
A frontier market: the FDA moves in
Vying for market share: some recent activities in the Mexican pharmaceutical market
ANNOUNCED JOB AND BUDGETARY CUTS IN THE INDUSTRY DO NOT INCLUDE MEXICO
AstraZeneca
GlaxoSmithKline
Pfizer
Eli Lilly
Novartis
Merck
Ranbaxy
Japanese Companies
IN SEARCH OF A MEXICO-SPECIFIC PHARMACEUTICAL SALES MODEL
Pharmaceuticals changing their marketing strategies
Contract Sales Organizations (CSO): Part of a new model
Marketing and pharmaceutical firms begin to team up in Mexico
Toying with the traditional sales model in Mexico
GSK
Pfizer
National pharmaceutical companies
Experimenting with New Initiatives
Discount cards
CRM tools
Segmenting the sales force
Selected companies offering outsourcing services to the pharmaceutical sector in Mexico
INDEX
