Pharma and AI: What does it mean for Medical Sales?
One of the newest developments in the market- and one that is set to transform not only medicine, but our society as a whole- is that of AI, or artificial intelligence. Though it’s been around for a few years, we’re still learning just what it can do, and how it can help us discover new insights, make new breakthroughs- and even help people to sell products more effectively.
With the potential to boost profitability by around 38%, and with annual investment in AI startups rising sixfold since the turn of the century, what does this mean for Medical Sales Representatives?
What’s happening in the market?
AI has made inroads into several different aspects of the Pharma industry since becoming economically viable to use and by 2021 it's predicted the AI healthcare market will have amassed to $6.8 billion. With the ability to analyse vast amounts of data from clinical trials, or feedback from medical devices or apps used by patients, AI can discover previously-unseen patterns, make diagnoses before doctors or even use smart learning in devices such as contact lenses to warn a patient of an impending spike in glucose levels before they realise it themselves.
In addition to this, companies are making the most of the accessibility that AI machines can offer, with established companies like Novartis and start-ups like Sense.ly developing apps that can help guide patients through after-care, providing them with a ‘virtual nurse’ which in turn saves clinicians 20% of their day.
Medical sales reps, healthcare professionals and pharmaceutical companies must respond to this rise in data by embracing the technology and harness AI so as to improve patient health. This means looking beyond AI as a tool to create apps for patient care and realise the potential in visual analytics where the technology can drive drug discovery. It's within this area of AI healthcare that we may find the solution to the world's most pressing problem - Covid-19. Al Vivo have used their AI-driven processes to test the effectiveness of the drug Dexamethasone in just 15 days, over which they've ranked 90,000 compound molecules in terms of efficacy - a huge breakthrough for the pharmaceutical and healthcare industries.
How is it going to affect Sales Representatives?
Healthcare organisations have admitted to seeing a huge spike in the amount of patient data generated - in just four years the annual accumulation has increased by a factor of 10. The industry has been moving closer towards a digital healthcare model, boosting the favourability of AI and machine learning and in turn shifting the healthcare job market. For years, Medical Sales Representatives have been dealing with access challenges, changing economic conditions and more regulations than ever before. Though there have been fears that the rise in ‘smart’ technology could replace the expertise of clinicians and the need for sales reps, the real value in AI lies in enabling Medical Sales Representatives to do their job more efficiently in a shorter period of time, and expanding the market.
Indeed, the explosion of AI-related products for a huge variety of treatments onto the market offers clinicians and GPs the chance to monitor and treat their patients more effectively and cheaply than ever before. This, combined with rapid market transformation, will make for a huge boost to Medical Sales Representatives, as well as allowing them to explore selling different products and diversifying into what is effectively a whole new market niche.
Streamlining the sales process
It can also help in another way. Today, sales reps are more squeezed for time than ever before, and are struggling to make connections with the right people: in today’s competitive market, only 44% of physicians meet with Sales representatives.
There are many reasons to love working in medical sales and now with AI technology being a potential goldmine for reps wanting to improve their sales and boost their efficiency in the biotechnology and pharmaceutical markets, that makes one more reason. On a more practical note, the rise of more advanced technology means that reps can also use a whole range of channels to engage their customers and improve public health. To that end, more and more companies are starting to implement AI sales strategies to give their representatives the boost they need.
Today, technology can help prioritise pre-call planning, make recommendations on what type of leads a salesperson should be pursuing, and automatically do the administrative tasks that often take up so much of a salesperson’s time, letting them stay in the field longer, building up relationships with their clients before sending them an automatic follow-up email.
Work smarter with IQVIA
As AI systems evolves, the role of the Medical Sales Representative will also undoubtedly evolve to keep up with it. Make the most of the changing job market: find your ideal medical sales representative job, or discover more about the industry in our knowledge hub.
Find out more about life at IQVIA
Did you know IQVIA has
1,900+ epidemiologists
and real world insight experts
Did you know IQVIA has
56+ petabytes of unique data
including 1.2B+ non-identified patient records
Did you know IQVIA has
Excellent work-life balance
and is committed to this kind of culture
Did you know IQVIA has
4,600 data scientists
including statisticians and analytics developers
Did you know IQVIA has
86,000+ employees
from clinicians to data scientists each transforming healthcare in 100+ countries
Did you know IQVIA cares about
Health and Wellbeing
for all its employees
Did you know IQVIA has
Countless development opportunities
for personal and professional growth
Did you know IQVIA cares about
Health and Wellbeing
for all its employees
Did you know IQVIA has
4,600 data scientists
including statisticians and analytics developers
Did you know IQVIA has
Excellent work-life balance
and is committed to this kind of culture
Did you know IQVIA has
86,000+ employees
from clinicians to data scientists each transforming healthcare in 100+ countries
Did you know IQVIA has
Countless development opportunities
for personal and professional growth
Did you know IQVIA has
1,900+ epidemiologists
and real world insight experts
Did you know IQVIA has
56+ petabytes of unique data
including 1.2B+ non-identified patient records
Related jobs
Salary:
Location:
San Antonio
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
San Antonio
Description
Join the IQVIA team, where diversity and inclusion thrive in a workplace committed to improving patients' lives. We recognize that our employees are crucial to our mission's success and have been ackn
Reference
R1419607
Expiry Date
01/01/0001
Author
Christine CaseyAuthor
Christine CaseySalary:
Location:
Baltimore, Washington
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Washington
Baltimore
Description
IQVIA in partnership with ITF Therapeutics are excited to announce that we are seeking candidates for the role of Neuromuscular Key Account Manager. This is an exciting opportunity to launch an approv
Reference
R1417545
Expiry Date
01/01/0001
Salary:
Location:
Raleigh, Richmond
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Richmond
Raleigh
Description
IQVIA in partnership with ITF Therapeutics are excited to announce that we are seeking candidates for the role of Neuromuscular Key Account Manager. This is an exciting opportunity to launch an approv
Reference
R1417531
Expiry Date
01/01/0001
Salary:
Location:
Philadelphia, Pittsburgh
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Pittsburgh
Philadelphia
Description
IQVIA in partnership with ITF Therapeutics are excited to announce that we are seeking candidates for the role of Neuromuscular Key Account Manager. This is an exciting opportunity to launch an approv
Reference
R1417501
Expiry Date
01/01/0001
Salary:
Location:
Utrecht
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Utrecht
Description
Field Project Coordinator Netherlands For a collaboration with one of our customers, we are looking for a Field Project Coordinator.The Field Project Coordinator is responsible for the local elaborat
Reference
R1419041
Expiry Date
01/01/0001
Author
Lubna KhanAuthor
Lubna KhanSalary:
Location:
Phoenix, Denver
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Phoenix
Denver
Description
IQVIA, in partnership with a leading Medical Device Company, looking for high performing Virtual Sales Representatives with a track record of success to join our team! The Virtual Sales Representative
Reference
R1419327
Expiry Date
01/01/0001
Author
Christine CaseyAuthor
Christine CaseySalary:
Location:
Mannheim
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Mannheim
Description
Das sind Deine Aufgaben:Als Medizinprodukteberater oder Direktverkäufer im Medizin-Sektor hast Du Dein verkäuferisches Talent bereits unter Beweis gestellt. (willst Du Dein verkäuferisches Talent unte
Reference
R1419515
Expiry Date
01/01/0001
Author
Katja GeorgiAuthor
Katja GeorgiSalary:
Location:
Torino
Job Type
Contractor/Consultant
Employment status
Full Time
Job Category
Medical Sales
Location
Torino
Description
Il nostro cliente, realtà farmaceutica in forte espansione e specializzata nel settore della nutraceutica ci ha incaricati di ricercare un Informatore Medico Scientifico, area di lavoro in Piemonte -
Reference
R1366349
Expiry Date
01/01/0001
Salary:
Location:
Padova
Job Type
Contractor/Consultant
Employment status
Full Time
Job Category
Medical Sales
Location
Padova
Description
Il nostro cliente, realtà farmaceutica in forte espansione e specializzata nel settore della nutraceutica ci ha incaricati di ricercare un Informatore Medico Scientifico, area di lavoro in Emilia Roma
Reference
R1366352
Expiry Date
01/01/0001
Salary:
Location:
Erfurt
Job Type
Regular
Employment status
Full Time
Job Category
Medical Sales
Location
Erfurt
Description
IQVIA ist ein führender, globaler Anbieter von zukunftsweisender Analytik, Technologielösungen und klinischer Auftragsforschung. Bei IQVIA Contract Sales & Medical Solutions unterstützen Sie unsere Ku
Reference
R1344285
Expiry Date
01/01/0001
Author
Michelle PflanzAuthor
Michelle PflanzSince joining IQVIA I have had unrivalled support and development from my manager to enable me to aspire to move into secondary care. I feel like my career is strongly supported by my manager in order to maximise my potential.
A quick note to say thank you for your time this morning discussing my future career options. As you know I was feeling very conflicted about the right decision. Discussing the role with you gave me chance to clarify what is important to me.
Once again I cannot thank you enough for not only approaching me with this opportunity but also for all the support you’ve given me along the way!
Just following on from the amazing news I got yesterday I wanted to say a really special thank you for all the help and support you have provided throughout the entire recruitment process.
IQVIA has been behind my development to become a MSL. The contracts that I have worked on have allowed me to push clinical projects with a recent opportunity to manage a pilot scheme integrating e-detailing into an established field based team. The result was an increase in sales.
Just following on from the amazing news I got yesterday I wanted to say a really special thank you for all the help and support you have provided throughout the entire recruitment process.
IQVIA Related insights
Teaser
Medical Sales & ServicesContent Type
ArticlePublished
19/03/2024
Summary
Are you wondering if medical sales is a good career? All over the world, the medical and pharmaceutical sectors are booming, and nowhere more so than in the UK. With a thriving ecosystem of research
Teaser
GeneralContent Type
ArticlePublished
05/02/2024
Summary
Lucy Manning sits in our clinical trials team, but that’s not where her career started at IQVIA. It all began at the back end of 2022 when Lucy took on a fixed-term contract as a Project Support Coo
Teaser
SalesContent Type
ArticlePublished
02/02/2024
Summary
Does the idea of being a medical sales rep excite you? This crucial position lets you make connections with companies and practitioners in the medical field. It’s also a growing and dynamic industry.
Content Type
ArticlePublished
04/01/2024
Summary
Are you ready to step into a career that's both rewarding and accessible? Becoming a phlebotomist could be your ticket into the thriving world of healthcare. It's not just about drawing blood; it's ab
Teaser
MedicalContent Type
ArticlePublished
20/11/2023
Summary
In the tapestry of healthcare, where expertise meets innovation, individuals like Marissa, a Senior Nurse Advisor at IQVIA, play a pivotal role. Marissa has not only learned from challenges but has e
Teaser
SalesContent Type
ArticlePublished
13/11/2023
Summary
A guide to excelling in Key Account Manager jobs in healthcare In the dynamic landscape of the healthcare industry, the role of a Key Account Manager (KAM) is pivotal. Experienced account managers con
Teaser
Medical Affairs & ServicesContent Type
ArticlePublished
10/11/2023
Summary
The role of medical science liaisons has never been more pivotal. Why? As catalysts for change and advocates of cutting-edge advancements, these professionals play a crucial role in fostering collab
Teaser
Medical Sales & ServicesContent Type
ArticlePublished
25/10/2023
Summary
In an industry where cutting-edge innovations and life-changing treatments are introduced every day, the role of ethics in medical device sales is critical. Bridging the gap between groundbreaking m
Teaser
Clinical OperationsContent Type
ArticlePublished
06/10/2023
Summary
Need some guidance on how to get a job in clinical research?Clinical research is a dynamic and rewarding field that transcends borders, offering professionals worldwide the chance to contribute to m
Teaser
SalesContent Type
ArticlePublished
06/10/2023
Summary
In the dynamic and competitive world of medical sales, the path to success is not just about knowing your products or having an impressive CV. Instead, amongst key skills, it's often the abili
Content Type
ArticlePublished
31/08/2023
Summary
Are you one of the 788,638 registered general nurses in the UK? Are you looking for a new challenge, with opportunities to grow and make a real impact in the world of healthcare? A unique and transf
Teaser
Medical Sales & ServicesContent Type
ArticlePublished
24/08/2023
Summary
In the dynamic landscape of global healthcare, staying abreast of emerging trends is not just an option—it's a strategic imperative for Key Account Managers (KAMs) who strive to excel in their roles.
Recently viewed jobs