IMS Health has defined EMs for the life sciences industry and subsequently identified 17 EMs in 2010 (referred to as “pharmerging markets”), up from seven identified in 2006. This expansion in number clearly displays the increasingly important role they play in the global economy.
In this white paper, we provide a granular understanding of each BRIC market, with a special focus on the challenges and opportunities the Indian market presents. To this end, TCS has constructed an Emerging Markets Index (EMI), which guides life sciences companies in the assessment of relative strengths and future potential along the key dimensions of relevance to the life sciences industry.
Emerging Markets Index:
Depending on a life sciences company’s strategic priorities and aspirations, the potential benefits offered by the BRIC markets can be viewed in terms of one (or more) of three distinct perspectives listed here:
- Revenue potential
- Savings potential
- Innovation potential
As the EM battle gains momentum for life sciences players, companies need to look at opportunities at a more granular level (individual country or smaller) and explore the possibilities of leveraging the complementary potential of individual markets.