If you’re bleary eyed this morning, take comfort in knowing you’re not alone. One casualty of the recession has been a good night’s sleep. The numbers from various recent studies all point to our general state of exhaustion and anxiety.

Here are a few top-line numbers:

• Consumers who sleep less than eight hours: 28%
• Consumers who sleep less than six hours: 20%
• Consumers who have had insomnia in the past month: 90%

To relieve sleep problems, consumers are turning to medication. A Sleep Foundation study found that 41% of consumers are using medications more than once a week. This general trend led Packaged Facts to project an over-the-counter market for sleep aids to reach $759 million in the next few years. Keep in mind that sleep aids include more than medication. Consumers are also using accessories such as pillows, sound machines, masks, earplugs, and aroma therapy in their quest to sleep better.

The demographics of consumers who are having sleep problems related to the economy include:

• Those with household incomes below $25,000
• Those with no adults employed in the home

Are there businesses in your market that need better campaigns to sell sleep medications, herbal remedies or other sleep accessories?

[Sources: Sleep Foundation release, 3.2.09; Packaged Facts release, 12.01.08; Newman, Andrew. "Pill Sales Rise," New York Times, 4.24.09]

Few would argue that life sciences is not a  risky industry. But a firm’s risk depends in part on the stage of its offerings in traditional product life cycles.  A new Ernst and Young report that assesses the nature of risk in the life sciences industry contains instructive information for ad agencies who help drug companies market their products.

According to Ernst and Young, companies with approved products face risk and opportunity in the several areas. In every case, different marketing campaigns can help the drug company manage its reputation and product sales. Here are the highest risk and opportunity areas for companies with approved products:

Revolutionizing business models: Companies may increasingly become ‘fully integrated’ pharmaceutical firms and control sales and distribution.

Demonstrating value amid pricing pressures: Companies must adopt a pricing structure that makes products affordable while allowing access to consumers and other payors.

Ensuring safe products: Companies must monitor and communicate how patients fare when taking drugs in the post-approval market.

By the time a company’s products have moved into the globally mature phase of the life cycle, management often encounters another risk:

Possible loss of reputation: A loss of reputation can result from specific problems a firm encounters with its products or because it operates in the drug industry which may be viewed as inefficient or expensive by the public.

Why not schedule a meeting with your drug company clients to discuss which products are in the approved or mature phase of their life cycles and which marketing campaigns might work best to position the company and its products properly in the marketplace.

[Source: The 2009 Ernst & Young business risk report, Life Sciences]

Social media influenced nearly 40% of recent hospital or urgent care center patients, with 25 to 34 year olds reporting the most influence (53.2%), according to the Spring 2009 Ad-ology Media Influence on Consumer Choice survey.

Nearly 30% of hospital visits by this age group were maternity-related. Of social media types, forums and discussion boards had a “significant” influence on 20% of 25 to 34 year olds who recently made a visit for maternity reasons, suggesting hospitals should target this group with an online space where these parents-to-be can interact.

At the other end of the spectrum, respondents 55 and older had the highest percentage of recent hospital or urgent care center visits and reported significant influence from direct mail and newspaper advertising. The most important factors for this age group were quality of care, availability of specialized services, and out-of-pocket costs.

“Progressive hospitals are already participating in social media through specific micro-sites, social networking, online communities, and targeted online marketing,” said C. Lee Smith, president and CEO of Ad-ology Research. “Urgent care and maternity provide excellent opportunities to connect with younger consumers, and social media is the way to engage this group,” Smith said.
Other key findings from the survey:

• Women accounted for approximately 60% of those who researched family doctors online
• Quality of care ranks the highest among patients as the most important factor when choosing a hospital or urgent care center
• Hospital/urgent care Web sites had the most influence on 18-to-24-year old patients (53.8%)
• Of traditional media, television had the most influence (22.3%), followed by newspapers (21.9%)

The Media Influence on Consumer Choice survey is conducted throughout the year by Ad-ology Research to study online, traditional, and social media influence on buying decisions.

The 59-page downloadable report, Media Influence on Consumer Choice: Hospitals & Urgent Care Centers, is available for purchase through Ad-ology.net, and includes 25 data charts, consumer-spending estimates by market, and additional marketing insights.

Now that hip and knee replacements have established a strong presence in the medical device market, entrepreneurs are turning their attention to other bones and joints. Implants, replacements  and related equipment designed to improve quality of life for patients suffering from hand, elbow, foot and ankle problems comprise a growing market. Zimmer and Johnson & Johnson have long enjoyed a lock on the hip and knee replacement market but more manufacturers have been petitioning the FDA to review small bone and joint replacement devices.

In early March 2009, Small Bone Innovations (SBI) won approval from the FDA to move forward with preparing its Scandinavian Total Ankle Replacement (STAR) device for market.

This New York-based company also secured an additional $73 million in venture capital funding in April 2009. SBI literature indicates that U.S. consumers suffer over 800,000 ankle fractures annually and some portion of these injuries never heal properly. In addition, arthritis sufferers are considered a key demographic for ankle replacement devices.

Look for other businesses to introduce new products in this growing industry. As they do, competition for market share and attention from doctors and hospitals will increase. Advertising agencies that present the right mix of marketing ideas and experience stand to win new clients.

[Source: Small Bone Innovations, Inc. press releases, 2009; Medical Devices release, March 2009]