Not only has the pharmaceutical industry trends just witnessed a seismic shift that changes the landscape for players in this line of business, but also, on a much more fundamental level, a renewed focus on manufacturing new technologies means that no sector of the pharmaceutical industry is without a rich source of potentially lucrative investment opportunities, from billion-dollar government-funded research initiatives to government legislation on clinical trials and finished drug product development.
Pharma organizations and investors must track market-moving trends, shifts, and development shaping the industry landscape to seize strategic growth opportunities.
Increasingly, professionals in the pharma sector are looking at market intelligence platforms as places to stay ahead of these movements but also for the tools offered in devising a business or investment strategy.
Instead of being reactive to many issues, pharmaceutical companies with more proactive research can outgun and outmaneuver competitors with well-informed strategies.
Research Trends in Pharmaceutical Market Changes
The way pharmaceutical industry market research is conducted has recently transformed in several ways. Traditionally, pharmaceutical companies’ reliance on historical data sets offered a platform for scanning information manually, sifting through various pieces of information.
Aggregating pertinent information and documents and later sifting what is worthwhile from noise is a gigantic feat due to tediousness, more time consumption, and often non-dependable processes.
Yet, that was the order of the day for pharmaceutical and healthcare firms till the coming of more technologically advanced market intelligence platforms. This helped them transform what could have otherwise been a mountainous task into an easy cakewalk by exponentially multiplying the accuracy, breadth, and depth of research done.
However, only the COVID-19 pandemic made companies realize the true worth of these tools. Traditional research methods became obsolete with speed tantamount in the race to solve the public health crisis. Up-to-date knowledge of regulatory actions, clinical trials, new drug development, and FDA approval proved essential for engineers to produce a vaccine against the virus.
For those who have not yet had the pleasure, regulatory websites are abysmal to navigate, making it a little harder to obtain all those tricky questions on time.
Factors like the sheer volume of information and notoriously difficult sites to navigate on regulatory websites made keeping informed and finding answers hard.
Pharma professionals must know more about diseases and treatments in this interconnected world.
Hence, there are ample opportunities to reflect on the significance of reasonable control over global supply chains, remote working trends, sales and marketing constraints, personal protective equipment’s effectiveness, social distancing’s impacts on consumer behavior, and more.
Today, modern marketing research is based on speed, efficiency, and thoroughness—qualitatively important factors in any industry, but especially in the pharmaceutical field.
That’s precisely why, for forward-looking pharma organizations, an AI-driven market intelligence platform that does more than allow you to get all the correct data but also guides you in filtering fast and identifying what’s important amidst the noise would be vitally crucial.
Artificial Intelligence in the Pharmaceutical Market Research
Artificial intelligence is not only making pharmaceutical market research faster but also improving the quality of the results. Search technology allows AI to quickly retrieve necessary market data, identifying trends and patterns that humans without AI cannot identify through manual processes alone.
From the perspective of time and costs involved, manual research is exponentially more expensive than platforms using AI search technology for any market research process.
Indeed, AI development has even made sense of the context and intent of your search terms. The AlphaPro platform relies on machine learning to broaden your search, returning the most relevant results on your topic through Smart Synonyms™ technology.
Whether it’s news about a competitor’s new product, market segmentation, customer insights, benchmark prices, or financial performance, market research platforms that tap into the power of AI are rewriting strategic planning processes, product development decisions, and investment strategies in industries.
Organizations that migrate their market research and competitive intelligence processes to a market intelligence platform automatically have an advantage, however they use it. Market research in the pharmaceutical industry involves identifying results that matter to different stakeholder groups, gaining insights for future business decisions, or tracking changes in clinical pipelines using minimal effort.
Pharmaceutical market Research with AlphaPro.AI
AlphaPro is an intelligence market platform for life sciences professionals and investors. Its unique features include an extensive content universe that aggregates company documents, expert calls, news and research journals, broker research, and regulatory documents paired with proprietary AI search technology.
Here’s how these features work in tandem with the extensive content universe to give a
research process that escalates their functions:
Aggregated Content Universe
AlphaPro’s vast content library provides over 10,000 high-quality sources, providing qualitative and quantitative global market research data. This feature allows you to base your quicker and more informed business decisions on timely and reliable insights from the AlphaPro platform.
Some of the available industry-specific content of the AlphaPro platform includes:
- Healthcare industry news, reports from pharmaceutical companies, statistical data, and publications from the most authoritative sources like the World Health Organization and the US National Library of Medicine.
- A vast library of regulatory healthcare content from ClinicalTrials.gov, FDA, EMA, PubMed, and more.
- Equity research and analysis from Wall Street Insights®, the top market research tool for corporate teams and healthcare professionals.
- Deep research that consists of more than 40,000 expert call transcripts from doctors, patients, medical researchers, pharmaceutical companies, healthcare industry leadership, and other interviews
Semantic Search
AlphaPro’s proprietary AI search technology understands your search intent and surfaces salient insights without requiring you to conduct multiple manual searches or scroll through the entire text of lengthy documents.
Our Smart Synonyms™ technology analyzes speech patterns across tens of millions of search documents, which means a robust library of synonymous words waits for you. AlphaPro does all the heavy lifting of finding your search query and all relevant synonyms in text-heavy documents.
Sentiment Analysis
Our NLP-based sentiment analysis technology brings to the fore how the market feels about a given topic. Additionally, it colors positive and negative sentiments to easily realize trends as you browse search results. All this AI is completed in seconds, meaning analysts’ precious time that would have been spent sifting through the reports by brokers or another expert in the healthcare market is saved.
Generative AI
Unlike other consumer-grade generative AI tools trained on publicly accessible data, AlphaPro takes an entirely different tack: industry-leading, business-grade generative AI built from the ground up on top of 10+ years of AI tech development.
Our suite of tools currently includes:
- Smart Summaries – It fetches earnings insights instantly, saving research time during earnings season, captures the company outlook quickly, and automatically generates expert-approved SWOT analysis directly from former competitors, partners, and employees.
- Enterprise Intelligence – The first-of-its-kind knowledge management offering delivers AI-powered search and summarization capabilities to a customer’s internal organizational knowledge for the first time.
- AlphaPro Assistant (in beta): Assistant is a generative AI chat experience that changes how users extract insights from hundreds of millions of premium content sources.
Our pharma and biotech customers use our generative AI capabilities to:
- Extract guidance
- Summarize the most important insights
- Extract sentiment
- Summarize and rank positives and negatives
- Extract KPIs
- Validate KPI accuracy in summary
Modern Pharma Market Research in Action
How do these features enable pharma professionals and investors to conduct deeper, quicker research and more confidently feel that their work is of good quality?
Clinical Pipeline Tracking
AlphaPro aggregates access to regulatory healthcare content from ClinicalTrials.gov, FDA, EMA, PubMed, and many others, simplifying the task of monitoring and analyzing clinical pipelines. Your sophisticated filtering capabilities get you right to the types of content relevant to your research needs. Forget about digging through a whole document: let AlphaPro do the work of finding you just the insights most appropriate to your search query.
Disease Landscaping
With company recognition and search summaries, you will never miss any updates on deeper competitor pipeline analysis and disease research performed with AI.
Our platform is designed to gather the context behind your quantitative research so you can focus on developing that go-to-market strategy and take your product development to the next level.
Earnings Analysis
Use AlphaPro’s sentiment analysis and Search Summaries to delve deeper into earnings transcripts in a much more strategic and detailed approach. The former allows you to drill down into shifts in commentary on the relevant companies and topics, while the latter enables a comprehensive understanding of the industry by bringing forth emerging topics by sector leaders, your competitors’ initiatives, and company KPIs.
Trend Forecasting
Trends in the pharmaceutical industry don’t stop evolving-they do so at nearly constant rates, which means you need a market intelligence platform that helps you identify development that pop up quickly. Alphapro does just that, aggregating content from the four key perspectives: journalist, analyst, and expert, to help you find insights before they’re anyone else’s.