Medical Affairs Capabilities Expanding in Emerging Marketplaces
CHAPEL HILL, N.C., March 27, 2015 /PRNewswire/ -- Across the global healthcare landscape, the Medical Affairs function is essential to meeting challenges in clinical development, market education, and regulatory compliance. As emerging markets develop and face tighter regulations, the Medical Affairs function is expected to increase in prominence and follow the route charted by mature markets.
According to research by benchmarking firm, Best Practices, LLC, all mature market study participants have a group dedicated to Medical Affairs. Among companies in India, 89% have a fully dedicated Medical Affairs group based in India, illustrating how Medical Affairs has grown into a global function with emerging market Medical Affairs groups now a normal practice.
The related report, "Building Best-in-Class Medical Affairs Capabilities in India – A Case Study for High-Growth Emerging Markets," compares Medical Affairs in the Indian market with mature markets and examines trends in structure, budget and staffing, as well as key challenges and top success factors.
Leaders can use this study to compare their Medical Affairs capabilities with those of the benchmarked organizations. Key Medical Affairs topics covered include:
- Scope & structure
- Leadership & oversight
- Regulatory landscape & challenges
- Spend allocations & investment benchmarks
- Staffing benchmarks
- Functional responsibility & service benchmarks
- Budget trends & success factor benchmarks
The study engaged 68 Medical Affairs executives from 50 leading healthcare companies through a benchmarking survey. Deep-dive interviews were also conducted with executives at seven leading companies to harvest additional insights.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1343.htm
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.