New Rx products for Osteoporosis disease



[Name of the Instructor]

[Date of Submission]

Table of Contents

Introduction1

Discussion2

Basis of Competition in Osteoporosis drug market2

Customer orientation3

Marketing4

Resource6

Geographical context8

Conclusion8

References9

New Rx products for Osteoporosis disease

Introduction

Marketing remain an important consideration of business so as to make the product available to the target consumers. However, the pharmaceutical marketing is different from those of the marketing practices used for the marketing of other products and services. A point of difference exists in a fact that the medicines for number of diseases cannot be directly advertised to the consumers. The marketing practices except for direct to consumer products are usually focused on the physicians, doctors, general practitioners who serve as an intermediary between the pharmaceutical companies and the ultimate consumers. An excellent example of the way pharmaceutical industry can start creating market for prevention drugs is provided by osteoporosis (medconsumers, 2009). The disease has taken the position of a major health concern for older women, although people were aware about the issue during 1980's. Fragility fracture led to the diagnosis of the osteoporosis disease (Cheung & Detsky, 2008). Awareness of the people about this major health concern has provided the drug market with an opportunity to introduce new Rx drugs/ products for osteoporosis. This assignment is written with an objective to focus on some aspects of the marketing plan to be designed for the new Rx product for osteoporosis. The major elements that will be discussed in the assignment include customer orientation, marketing techniques, resources and geographical consideration for new osteoporosis product.

Discussion

Researchers several times conducted meetings at World Health Organization to consider the issues related with the drugs of osteoporosis. Drug market is expanding as number of hormone drugs remain a standard prevention treatment for many years. Non-hormonal drugs are also introduced. Osteoporosis is a potential massive market and the drugs are providing new hopes for the patients. The physicians and patients are in a requirement to be informed about the ways to identify and treat the condition of osteoporosis.

In order to get the drug therapy accepted by the symptom-free women, they need to be informed that the danger period initiates just after the menopause, and thus the physicians, doctors are needed to have persuasive power to convince the patient to use a drug. They should make the patients realize that the most disabling consequence of osteoporosis is hip fractures, and as soon as the menstrual cycle stops women are more likely to face the condition of hip fracture. 25% of the women aged over 50 are more likely to be died within a year of hip fracture, and about 90% of the hip fractures are experienced by those above the age of 70 years (Love, Lindsey, & Susan, 2003).

Basis of Competition in Osteoporosis drug market

A compound annual growth rate (CAGR) of 3.5 % is shown globally by the Osteoporosis market between the time frame of 2005 and 2009 (Datamonitor, 2010). The stability of the market will be characterized by the launching of new drugs. The bases of competition in the drug ...