Pharmaceutical companies are rethinking the way they operate, thanks to a combination of tough challenges: expiring patents, cost pressures, stricter regulation, and stiff competition. As their business models shift, they will need to move away from volume and toward value. That means focusing more on consumers, who want to take increasing control of their own treatment, to become co-pilots rather than passengers.
In the new value-based health economy, pharmaceutical companies must understand the characteristics of next-generation consumers. This report recommends ways to reach those consumers and practical next steps for improving their experiences—giving them a reason to choose one brand over others.
PwC’s Experience Radar helps businesses find the often hidden sources of value that drive exceptional, differentiated customer experiences. A major shift is underway for pharmaceutical companies. New business models are focused directly on customers' experiences. The business environment that pharma faces—with operating, competitive, and regulatory challenges—is not unique to their industry. Business leaders across industries can learn from how pharmaceutical companies evolve and prepare to face their own changing landscapes.