But individualized health management, as we've called this trend, goes much further. With access to information sources like the Internet, for example, consumers have begun to demand a much bigger say in their own healthcare. Meanwhile, advances in medical technology and science are paving the way for an increased understanding of the causes of ailments and totally different kinds of treatment. With electronic medical records, customized treatment protocols, and personalized medicines, a patient will be able to get the healthcare that is best for him or her. Challenges for Pharmaceutical Companies Today The trend towards individualized health management will create an array of new opportunities for the pharmaceutical industry.
Most companies develop a portfolio of unrelated products.
They also concentrate on medicines for managing illness. In the future, however, patients will want a coherent range of products and services that cater to their individual needs as they change over time - including disease prevention, disease treatment, and health maintenance. In her teens, for example, a woman is likely to be interested in treatments for acne, PMS, weight loss and birth control. As she matures, her interest will shift to fertility and pregnancy, breast and cervical cancer, then menopause and, ultimately, to the problems of old age. There is, thus, an opportunity to build a long-lasting relationship with that individual, by providing her with products and services which cater to her needs as they evolve.