Main Subject - Business

The following changes will rock your marketing world:

Hispanic Revolution- Hispanics accounted for about half the growth in the U

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

.S. population since 2000, according to a recent US Census Bureau report. The nation’s largest minority group is increasing its pr

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

sence even faster than in the previous decade. Contrary to popular belief, births have overtaken immigration as the largest source

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

of Hispanic growth. If you are not marketing your products with this “minority” in mind, you are making a big mistake amigo.

Boo

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ers Retire- With nearly 80 million baby boomers driving our current economy, but with 330 of them turning 60 each hour, there’s cl

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

early a change on the horizon with marketing implications all around. Meanwhile, the U.S. Bureau of Labor Statistics (BLS) project

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

a labor force of 162.3 million individuals in 2012, while the economy will require 165.3 million jobs to be filled. Who is going

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

to fill those jobs?

Health Care Costs Increasing- Old news you say? It is going to get much worse. The real culprit is an acute s

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ortage of doctors coming out of too few medical schools. If the trend line continues at the current rate for the next twelve years

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

, half of the US population will not be able to afford even minimal healthcare. Talk about haves and have nots.

Mass Personalizat

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

on- Mass marketing is dying and it is being replaced by mass personalization, a trend that finds the consumer demanding goods and

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

services tailored uniquely for them including clothing, information, and food. Did you know that you can order custom colors of M&

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

s with unique personalized logos? Gotta have that!

Social Networks- MySpace is only the beginning. People want to find others jus

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

t like themselves by “data mining” the 300 million person pool of US citizens. The networking possibilities are limitless. Marketi

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

g is now permanently viral.

Wireless Everything- Over the next five years, most common consumer products will become wireless. Sa

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

y good-bye to cords, cables, and wires. The bad news is that this wireless trend will obsolete virtually all the consumer products

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

that you own today.

Everything Online- Bricks and mortar sales channels are dying or will seriously shrink. Look to buy absolutel

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

y everything online in ten years or less. Embrace the internet or die.

Asia- The globalization of the marketplace will continue;

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

hina will continue to be the dominant trading partner with the US, but at an increasing percentage. Look for India to grow at even

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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