www.retailindia.tv: Consumer behaviour in healthcare witnesses sea change

THERE is anold saying, “Health is better than wealth” and I think more and more people are making it their mantra. It is quite evident today that people are more conscious of their health than ever before. Board ante’room conversation often borders on the ubiquitous topic of the growing incidence of ‘Lifestyle Diseases’ and how to manage them. Much of this awareness has been brought about by the changing lifestyle, work patterns and food habits that have led to an alarming increase in common ailments like hypertension, diabetes, high cholesterol et al. Like in many other countries, India’s healthcare sector is primarily driven by prescription drugs followed by other categories such as over-the-counter (OTC) medicines, self-diagnosis products and general wellness products. Doctors are our soul mates when we fall sick. They prescribe a pill and we have it. How often do we question? Till some years ago, patients chose to remain oblivious of what was being prescribed to them. Some had, in fact, very little knowledge about their health situation and available options of management. As a result, the physician’s prescription was respected beyond doubt. But what happens today is somewhat different. For a moment just recall your last visit to a doctor. Did you ask why the particular medicine was being prescribed? Is there an alternative that can be taken only once a day and not thrice? What if there are any side effects? And so on. Today’s consumer is much more educated and informed, thanks to the information age and easy web access. Although consumers cannot be cavalier about medicating themselves in serious conditions and should heed the advice of their doctors, they are beginning to have a larger share of voice and increasingly enunciate their opinions about drug efficacy, safety, compliance and management. Like in automobiles, FMCG and other industries, word-ofmouth is becoming extremely important as consumers don’t shy away from talking openly about their ailments and even have a peer or support group to voice their concerns and discuss their problems. The privatisation of healthcare is also acting as another change agent. Another emerging trend is that, selftreatment of recurring minor ailments is becoming common practice across the urban/rural terrain. Busy consumers want to reduce the cost and inconvenience of consulting doctors, and this has led to a growing demand for OTC products. This is a result of increasing consumer confidence boosted by the comfort that a host of large reliable pharma companies have ventured into this segment. In fact, some of the best-known brands — Revital, Becosules, Digene and Calcium Sandoz — fall under this category. There is also a burgeoning interest in the preventive/wellness segment. A large segment of the population follows the ‘prevention is better than cure’ philosophy and use health supplements. They don’t mind exploring ayurvedic and natural options. An interesting aspect of changing consumer behaviour is that with greater patient involvement, a number of new medical treatment areas have evolved. These areas offer ‘feel good options’ like aesthetic dermatology, obesity management, figure enhancement et al. There is a growing segment of population which doesn’t mind paying for something like a laser treatment or anti-scar therapy. That’s not all. On the pharmaceuticals side, there are drugs available that help in improving the quality of life of patients. In this category, the most common products are for osteoporosis, Alzheimer’s disease, osteoarthritis etc. Increasingly, prevention as a strategy of healthcare management is being equally accepted alongside fast developing segments such as vaccines. With the dawn of the new empowered patient reality, companies are preparing themselves to meet the growing demands of consumers. This change has lead to sharper focus on doctors with various activities aimed at clinical trials to ensure experience of the medicine for efficacy and safety. The changes occurring on the consumer landscape have transformed the outlook of the pharma companies as they now own therapy areas such as hypertension, diabetes, depression, cholesterol management and cancer management among others. With all these catalytic changes, one thing is certain, that the health of our nation will definitely improve as proclaimed by an American writer famous for his pithy and homespun humour: “The health of nations is more important than the wealth of nations.”