Industry Trends: By the Numbers

The cost of a bad marketing hire

The cost of hiring the wrong marketing person is on average $75,550, and sometimes exceeds $100,000.

Source: Jacobs Management Compensation and Hiring Report 2019

Registered clinical trials in U.S.

The United States is by far the leader in clinical trials, with over 100,000 being conducted currently. There are 300,000 clinical trials being held worldwide.

Source: WebMD, “How Precision Medicine is Changing Clinical Trials,” June 2019

Patients who think healthcare companies are not transparent about costs

While 78% of patients report that drug price transparency is “extremely” important (and another 19% say it’s “somewhat” important), they have little faith that the companies offering these medications are forthcoming in stating price information.

Source: WEGO Health Patient Leader Survey on Drug Price Transparency, May 23, 2019

Amount of healthcare data generated annually

zettabyte is a trillion gigabytes (also expressed as 1021 or 1,000,000,000,000,000,000,000 bytes). This is how much data the healthcare industry is accumulating every year. And it’s expected to double every two years.

While this holds much promise for patients of all types, it’s also a significant challenge for healthcare IT professionals to analyze and make actionable. Source: Datavant, “The Fragmentation of Health Data,” July 2018

Consumers using at least one digital health tool

In 2018, 89% of surveyed consumers used one or more digital health tools. This was up from 80% in 2015. The major category was online health information (80%), followed by online provider reviews (64%), live video telemedicine (34%), wearables (33%), and mobile tracking (28%).

Source: Rock Health, Digital Health Consumer Adoption 2018

Biotech IPOs in 2Q 2019

Biopharma flotations have rebounded from a slowdown in late 2018, and reached 20 in the second quarter of this year, up to the levels of early 2018, which were a significant bounce from the lows of 2016 and 2017.

Source: Evaluate Pharma, Biotech IPOs By Quarter on Western Exchanges, July 2019

Healthcare companies reporting <20% sales force turnover

There is significant turnover among sales staff across the industry, according to a new report from Beghou. 36% of companies said they had greater than 20% turnover, 45% had 11-20%, and only 19% had 10% or less.

Source: 2019 Emerging Pharma Pulse Report, “What To Do With All This Data,” Beghou Consulting


July / August 2019