Decision Resources, one of the world's leading research and advisory firms focusing on pharmaceutical and healthcare issues, finds that Florida and California represent equivalent areas of opportunity in the Alzheimer's disease drug market despite the large disparity in population size between the two states. Despite having a population half the size of California, Florida's more elderly-leaning population causes it to have almost the same number of Alzheimer's disease cases as the larger state (213,900 cases versus 263,900 cases, respectively).
"When we looked at other states such as New York and Texas, which have more residents than Florida, we found both to have fewer Alzheimer's patients because they have younger populations on average," stated Jason LaBonte, Ph.D., vice president of new product development at Decision Resources.
The new analytics tool entitled PatientFinder: Alzheimer's Disease estimates that, based on prescription volumes in both states, Florida's Alzheimer's population is undertreated versus California's, such that there are almost equal numbers of untreated Alzheimer's patients in each region (130,000 in California and 123,500 in Florida).
Why Pharmaceutical Companies Need this Information
With the type of information included in PatientFinder, pharmaceutical organizations can identify the local markets that offer the greatest opportunity for their branded drug. Companies can identify markets that are underserved and determine if they should increase direct-to-consumer advertising, work with the local managed care organizations to increase awareness of the disease and benefits of their drug or align sales representatives to maximize market potential.
PatientFinder is the only healthcare analytics tool that assesses local markets for expansion opportunity by determining the number of insured patients in each territory who have the disease but are untreated. PatientFinder covers each of the 50 U.S. states and 318 U.S. metropolitan statistical areas (MSAs) and provides:
-- Disease-specific prevalence numbers for each U.S. state and MSA -- Examination of treatment rates for the disease population to create percent treated and percent untreated estimates by state and MSA -- Unique analysis of the untreated population examined through a filter of prescription (Rx) benefit coverage. The end result is an estimate of how many patients are untreated but can afford therapy within each territory--the true local measure of opportunity for pharmaceutical companies About Decision Resources
Decision Resources (www.DecisionResources.com) is a world leader in market research publications, advisory services and consulting designed to help clients shape strategy, allocate resources and master their chosen markets. Decision Resources is a Decision Resources, Inc. company.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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