Without a doubt, tech has profoundly impacted and revolutionized the healthcare industry. This disruption has led to innovations such as precision medicine, mapping and distribution of medicine, robotics, telehealth, and other developments that are driving growth and expanding the reach of pharmaceutical needs, especially to underserved populations.
One major factor in this process is the role of product managers, a space in which I am humbled to play; we play a crucial role in identifying the needs and demands of the pharmaceutical market, creating distribution routes, and successfully launching new products to address the users’ pain points.
Amongst the many essentials roles played by product managers in delivering effective and efficient pharmaceutical care are;
Understanding user pain points and focusing on their convenience
As a product manager, I spot gaps in the market because of my vantage point and bird’s-eye view. It is my responsibility to identify the problems that customers face, and then find solutions for those challenges in the form of product designs, features, and benefits. For example, at Pharmarun, we have been able to close many gaps between pharmacies and their customers, and we are constantly improving. We are inspired by the idea that access to medication should not be complicated, but rather made easy.
Conducting market and user research
Without proper market and user research, a pharmaceutical product that initially seems great could end up performing poorly in terms of market reach. As a result, product managers collaborate with other skill sets in the tech space, such as research (R&D), design, data analytics, software engineering, and so on. However, the product manager bears the primary responsibility in the process of launching a pharmaceutical product to make an informed decision based on market research, before any product leaves the counter and reaches users.
Validating market opportunity
While the Research and Development (R&D) team in the pharmaceutical industry plays the primary role of developing new drugs, the analysis or validation of the market opportunity and user demand critical to its eventual market outcome falls on the product manager.
In addition, a product manager plays a vital role in analyzing the target market for a product and eventually developing, pricing (in some instances), and marketing the product to get an equal market response to its value.
In conclusion, product managers have a significant impact on how users’ challenges are addressed, we can easily access pharmaceuticals, we know how to capitalize on market opportunities, and how to make recommendations for product innovation.