What is Market Research?
Market Research is the process of gathering and analysing information/data about customers, competitors and the market itself. An essential component of business strategy, Market Research enables companies to gain a competitive advantage, identify new business opportunities and assess & mitigate potential risks.
Within Pharmaceutical Market Research, products can be categorised into Ethical, Over the Counter (OTC), Medical Devices or Consumer:
The role of Market Research within the pharmaceutical sector is to identify which products healthcare professionals, patients and consumers will require. In addition, the outcomes determined from this research will influence the key messages to be used in all marketing materials and the multi-channel approach needed to reach the target audience.
Traditional Pharmaceutical Market Research roles
Traditional roles within this sector are:
How can you progress your career in Pharmaceutical Market Research?
If you are looking to progress your career within Pharmaceutical Market Research, you will need to have excellent communication skills, be an analytical thinker and have strong attention to detail.
Although these key characteristics are a necessity within this sector, there are also several key tasks you could complete to help progress your career that much quicker:
What are the obstacles to a career in Pharmaceutical Market Research?
If you are looking for a role within Pharmaceutical Market Research, you may need to overcome several obstacles to have a long and successful career within the sector.
We have highlighted a couple of them below:
Can you transition into the Pharmaceutical Market Research industry without previous experience?
If you are looking to transition into an entry-level Pharmaceutical Market Research role, it’s not a requirement to have prior experience. However, you will need to have been educated to a minimum of a degree level within a relevant field of study.
For more senior-level positions, previous industry (pharmaceutical or healthcare) experience is an essential attribute and many companies will often only shortlist candidates who have it. However, some companies will consider candidates who have worked in Market Research but in a different industry. As a result, candidates can sometimes transition into this sector, but it is important to bear in mind that the Pharmaceutical industry have significantly more regulations compared to other industries.
Typical Pharmaceutical Market Research career progression options
If you are looking to progress your career within Pharmaceutical Market Research, a typical career path many candidates choose is highlighted below:
As previously mentioned, a Pharmaceutical Market Research role requires candidates to have excellent communication skills and high attention to detail. If you thrive in a fast-paced, deadline-driven environment then a career in this sector may be ideal for you.
If you are looking to progress your career in Pharmaceutical Market Research or would like an informal chat to discuss your career progression opportunities, our specialist consultants can help - get in touch with them here:
Alternatively, you can view all our current vacancies within this industry on our Market Research jobs page.