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Data-based approach identifies products for health supplements market

“There has been a shift in attitudes about healthcare from cure to prevention,” he says. “Australians are seeking to maintain good health and prevent ill health, leading to increased interest in preventive health measures such as healthy eating, exercise and mindfulness, stress reduction and focus on sleep.

“At the same time, a global trend toward evidence-based complementary medicine has influenced the Australian industry. Australian companies are increasingly conducting clinical trials to compete in the worldwide market.”

Insights lead the way

A key player, natural health company Blackmores, is using data-based approaches in innovation and product development.

Last year, it introduced artificial intelligence (AI) techniques to analyse clinical research to determine the gaps in healthcare that are being identified by science and academic research.

Chief brand, innovation and communications officer Joanne Smith says it’s one of many innovation techniques the company has been using to help understand and meet its customers and consumers’ healthcare needs.

“We look for insight across a wide range of inputs,” she says. “Cultural forecasting of macro health trends and patterns, as well as consumer and expert interviews across key markets, reveal unresolved and emerging healthcare challenges and needs. We then narrow these down to opportunities where we can differentiate with first-to-market innovation.

“These approaches, along with expert interviews, cross-functional ideation, experimentation and rigorous testing are used to unlock new breakthrough ideas.

“There has been a shift in attitudes about healthcare from cure to prevention.”

John O’Doherty, Complementary Medicines Australia (CMA) chief executive

“By using a broad range of insight generation techniques, you can map where the future opportunity spaces are.”

That is how Blackmores’ Sleep range, launched in May, was created.

Studies revealed how residents in several global regions experienced difficulty in falling asleep as well as sleeping through the night.

They also highlighted how people recognised that a good night’s sleep was associated with beauty benefits. So, three new sleep products were formulated – Fall Asleep, Deep Sleep and Beauty Sleep.

Joanne Smith, Blackmores chief brand, innovation and communications officer. 

“Our innovation is formulated to meet an important consumer health need in a unique way,” Smith says.

Another innovative Blackmores product, Vision Care + Energy, was launched in 2022 after analysing health research that revealed visual health and its effect on energy levels was an issue that was exacerbated by the COVID-19 pandemic, when many people spent more time on screens for work and leisure.

“Eye strain links to broader fatigue, and we developed a product that met both of those needs, around eye fatigue as well as energy depletion, and that was unique to the market,” Smith says.

Australian Institute of Health and Welfare figures show individuals spent an average of $445 on non-PBS pharmaceuticals such as vitamins, over-the-counter medications and health-related products in 2020-21.

“Cultural forecasting of macro health trends and patterns, as well as consumer and expert interviews across key markets, reveal unresolved and emerging healthcare challenges and needs. We then narrow these down to opportunities where we can differentiate with first-to-market innovation.”

Joanne Smith, Blackmores chief brand, innovation and communications officer

It was almost double the average amount people spent on dental services ($253) and more than seven times the amount on benefit-paid pharmaceuticals ($58).

The expenditure on non-subsidised medications steadily grew by 2.5 per cent during the decade to 2021, unlike the amount spent on health practitioners ($58) and community and public health services ($4), which both declined by 7 per cent.

CMA’s O’Doherty says there has also been increased awareness and education around complementary medicines and their access to health professionals including pharmacists, which may also be influencing Australians’ choices.

“Australia’s Therapeutic Goods Administration (TGA) regulates therapeutic products, including complementary medicines, to ensure their safety, quality and efficacy,” he says. “The regulatory framework ensures product safety and requires all claims to be supported by evidence.”

O’Doherty says individuals considering complementary medicines should consult with a qualified healthcare professional to ensure they are suitable for their specific health needs and to avoid potential interactions with other medications.

To learn more, visit blackmores.com.au

The post Data-based approach identifies products for health supplements market appeared first on Australian News Today.



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