Video Marketing In Pharmaceutical Market Report
Impact of COVID-19 on Video Marketing In Pharmaceutical Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s demands and future possibilities for the forecast period of 2019 to 2025. The report segments and analyzes the market in the most detailed and comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participant as well as investors to identify low-hanging fruits available as well as formulate growth strategies.
Video Marketing in Pharmaceutical Market: Highlights
Stratview Research reiterates the fact that we are living in the age of the digital patients, where 72% of internet consumers educate themselves online for medical information. Pharmaceutical companies are leveraging on the search engine optimization or SEO to make a bigger mark with their content. Reader of this report will agree that SEO and content marketing are better when amalgamated, i.e., one cannot work without the other. Search Engine Optimization is a crucial component of digital marketing for pharmaceutical companies to gain visibility and organic growth. Ranking for keywords demonstrates expertise in that field; a crucial factor for pharmaceutical marketing companies to develop credibility among patients and healthcare providers alike. Success stories of various pharma companies in major markets such as USA, Germany, France, UK and others have proven that end users or viewers of the content (which can include doctors and patients or healthcare staff or patient parties) land on the company’s website when searching for a related query and thereby helps in increased visibility.
Video Marketing in Pharmaceutical Market: Insights by Type
Based on the service type, the video marketing in pharmaceutical market is broadly classified as Online Reputation Management, Patient Focused Content, Physician Focused Content, and Online Medical Representative. This segment is insightful for reader of this report, as many of them would agree that the pharmaceutical industry has to deal with negative coverage, false news and inaccurate information from rival groups or competitors. If the same is left neglected or ignored, then it can lead to the damage of a brand’s reputation in the market. Online reputation management is the art of detecting negative coverage and charting strategies to tackle it. The content marketing team focuses on this segment equally and looks for software and online tracking modes to stay updated. With advancement in the video marketing segment, the approach for pharmaceutical companies is slowly shifting from merely communicating the benefits of a drug to healthcare professionals and medical reps to developing an emotional connect with patients themselves. So, there are segments such as physician-focused or patient-focused ones and the budgets are allocated for such sub-segments.
Video Marketing in Pharmaceutical Market Insights: By Platform
By identifying the type of platform, pharmaceutical companies can have more focused approach in the market and analyze their ROI (return on investment) in a more quantitative manner. The report segments the platform into Phone App Based, Online Marketing Videos and Chatbots. Chatbot has emerged as one of the biggest digital trends which is having an impact on every sector. As the technology gets more sophisticated, chatbots are slowly replacing the more ‘human’ approach and are even proving to be more cost effective and impactful. Marketing teams can use chatbots on their website as an innovative digital marketing for healthcare strategy to communicate directly with consumers, doctors or medical representatives. Most of the markets have switched from conventional detailing to digital detailing by medical representatives. Now physicians prefer more online content than representatives visiting them regularly and bombarding them with information. The report looks into the preference of physicians from various markets and offers insight on the choice of platform which the majority of doctors choose in a particular region. This information can help the reader correlate with their marketing efforts or correct their measures, as the case may be.
Video Marketing in Pharmaceutical Market: Insights by End Users
Not all users of the video marketing are physicians. Pharmaceutical companies have grown smarter with the multiple opportunities in the digital space. While physicians remain the focus area of marketing, patients, healthcare workers, overall industry are also the new focus of the companies which helps them in more closures and more revenue.
Pharmaceutical companies typically have markets that spread across geographical boundaries. To cater to this diverse audience, communicating to them in just one language might not be effective. A website can provide in-depth information, but unless it is in a language that the user understands, it serves no purpose. Adopting a multilingual approach is one of the most important pharma digital marketing trends to look out for. Hence choices of end users vary from market to market and it becomes imperative for a pharmaceutical company to consider the regional demands. The information of such scale helps the marketing team build or modify their counter campaigns or strategy.
Video Marketing in Pharmaceutical Market: Insights by Region
USA has been the forerunner in technology adoption, other markets such as Australia, China, Japan, Singapore, Korea, Germany, France, UK, Italy, and Switzerland are also not far behind. Emerging markets such as India, Indonesia, Malaysia, and Brazil offer additional opportunity. The report covers all the major markets and add the preferences and trends to help the content management teams of pharmaceutical companies, come up with innovative and effective campaigns.
Video Marketing in Pharmaceutical Market: Key Players
While most of the companies are based out of USA, there are other key companies which can be considered as well. The report highlights companies such as Concept Video (New Jersey, USA), lesser known Indigo productions (USA), new players such as Demoduck (USA), Storyfarm, The DV group (USA), Agnitio (Germany), Clipatiz (Germany), MediaMedic (India), Blueocean (India), Amura Tech (India), Aarohan Communications (India), Adcanopus (India), Medulla (India), Immaculate (UK), Candyspace (UK), HME (UK) and more.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We usually conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The Video Marketing in Pharmaceutical Market is segmented into the following categories.
By Digital Platform
By End Users
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