As the continuous increase in demand for medical services grows globally, healthcare companies are in search of experienced product managers. These professionals are required to understand trends and identify market opportunities in order to devise strategic product marketing plans. Read on to find out what the role as a healthcare product manager involves.
As a healthcare product manager, you will conduct market research and analysis to strengthen the brand's marketing efforts and drive sales profits. You will also plan and execute product launches and relaunches from product packaging to communication campaigns. Healthcare product managers are also required to oversee regulatory standards to ensure they are aligned with local guidelines. Finally, be prepared to attend numerous events and symposiums where you will host and build relationships with key opinion leaders in the medical industry.
The X factor
Medical qualifications and marketing skills are key requirements in a healthcare product manager role. If you are dealing with prescription products, ensure that you have related scientific knowledge and prior work experience in a healthcare organisation. Also, hone your marketing skills as they are highly sought-after in Malaysia’s pharmaceutical industry.
Multinationals are beginning to hire managers who do not necessarily come from pharmaceutical backgrounds but possess substantial marketing experience in consumer sales. However as this trend is in its early stage, it is still important to equip yourself with both scientific knowledge and marketing expertise to become a successful healthcare product manager.
Career development prospects
Career development prospects as a product manager are predictable. After a few years of experience, you would have effectively taken a product from inception through to market. Your next promotion would then be to senior product manager, where you would be responsible for managing a team of junior product managers and ensuring that the product lines you oversee are consistent and standardised.
Moving forward, you would assume a business unit director or business unit vice president position. At this stage, you will no longer be attending to the details of product management. Rather, you would manage the entire product management function in the company and represent it at internal and external events.
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