Harnessing Emerging Markets
The emerging markets are home to 85 percent of the world’s population and represent a potentially massive source of untapped consumption. How can the pharma industry capitalize on this huge, underserved market?
Ambuj Jain |
Regardless of industry, whether it be smart phones or medicines, emerging markets hold enough ‘pockets of non-consumption’ to be of commercial interest. However, issues such as per capita income and low levels of reimbursement have led some to wonder how deep these pockets are. The aim of our recent workshop at Cambridge Consultants was to bring together senior executives from across the pharma industry to explore the sustainable growth potential in emerging markets, particularly the Indian market, and assess the opportunities and challenges of the next 5–15 years. The findings were published in a recent report (1). Here, I share some of our key discoveries and offer advice on how to make your journey into the emerging markets a successful one.
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