Pharmaceutical Industry Profile

A pharmaceutical industry profile covers the main features of pharmaceutical business. Though the terms ‘profile and report’ are used interchangeably in today, a subtle difference exists between the two. A profile is a short description, covering all the significant issues, while a report covers a specific topic in detail. A pharmaceutical industry profile contains the highlights of pharmaceutical business while the pharmaceutical industry report comprises a more detailed account of the business.

Now a pharmaceutical industry profile more or less means a pharmaceutical industry report. The distinction between a profile and a report is, however, maintained in case of companies. Usually, company profiles contain highlights while company reports, the detailed analysis.

A pharmaceutical industry profile contains the highlights of different facets of pharmaceutical business such as:

• industry structure
• major markets
• major players.

The pharmaceutical industry profiles can be prepared at the country, region and global levels. A US pharmaceutical industry profile comprises highlights of the pharmaceutical business in the USA while a global pharmaceutical industry profile covers pharmaceutical business across the globe.

What is contained in a pharmaceutical industry profile?

A pharmaceutical industry profile usually begins with a broader study of the industry. An ideal starting point is a detailed pharmaceutical industry report. The preparation of a pharmaceutical industry profile entails identifying the main points in a report and presenting them crisply with supporting tables and charts. The process resembles précis writing, but demands much more than summarising skills. The identification of the key portions of the report, for instance, calls for a deep knowledge of the pharmaceutical industry. The composition of highlights into a whole, that provides a good understanding of the industry calls for high level of editorial and design skills.

Now most business research firms focus on preparing detailed pharmaceutical industry reports for business reasons. Most consumers want knowledge in a nutshell plus the option of digging deeper if they want to. The report format fits the bill perfectly. For business professionals hard-pressed for time, the front end of a report contains an executive summary of the entire report. In some ways, the executive summary is equivalent to a profile. One key difference between a profile and an executive summary is lack of visuals in the latter. The executive summary relies on words to get ideas across.

In theory, the executive summary can be sold on a standalone basis, but business research firms show little inclination to do so because of the time, effort and money involved in preparing reports. The consumers may not be keen to buy an executive summary either, for the fear of missing out on details. The pharmaceutical industry is, for instance, a technical industry where details matter.

Owing to business and market reasons as well as the nature of the industry itself, a pharmaceutical industry profile has become a rare commodity. Some industry associations and governments continue to prepare a pharmaceutical industry profile, but such profiles either resemble reports or contain a lot of promotional material.

Given the rising complexity of pharmaceutical business due to technological advances and globalisation, a report is probably a better medium for communicating ideas. Some online business research firms have begun to prepare reports in a modular fashion and selling modules on a standalone basis. In this model, for example, additional detail is just a click away. If this trend picks up, pharmaceutical industry profiles might make a comeback.