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Trends in the Tender Market

Tender Market: Pharmaceutical

Tenders are increasingly relevant for purchases in the healthcare and pharmaceutical sectors. And to ensure profitable growth, pharmaceutical companies must strive for excellence in bid management.

Therefore, companies must adapt to new competitive environments, where competitive bidding has become the new standard contracting practice.

Specifically, with regard to the market for hospital tenders at the European level, in 2021 there was growth in the number of tenders close to 10% per year. Reaching the market a total annual value of 47 billion euros.

Tender market

Tender Market: Hospital Equipment

With regard to the tender market in Europe, it is also important to highlight the evolution and impact that the sale of medical equipment has had on the growth of the tender market.

Specifically, in Europe the market for tenders for medical equipment grew at a higher rate, reaching an annual growth of close to 14%. However, despite growing at a faster rate, the size of the tender market for medical equipment is still well below that of Pharmaceuticals. With a value in 2021 of 23 billion euros for the total market.

Tender market

Market Tenders: Pharmaceutical vs Hospital

Tender market

New challenges, new opportunities

The growing importance of the tender market at a European and global level brings with it a series of challenges for companies and laboratories in the Pharma sector, as well as a series of opportunities. However, in order to take advantage of these new opportunities in the sector, pharmaceutical companies will need to have the necessary tools at the right time.

Some of the challenges that pharmaceutical companies will have to deal with have to do with the increasing complexity of the management and monitoring processes in public tenders. The participation of multiple stakeholders, limited access and changing processes in markets and countries will greatly affect companies and laboratories in the sector.

Therefore, companies must formulate localized bidding strategies. In addition, the tender structure should be carefully analyzed to capture the relevant differentiation.

To do this, equipping companies with a suitable system to develop a structured and proactive bidding strategy is essential.

A tender management system will allow interaction with the process, its phases and the interested parties throughout the life of the tender. Also including the analysis of the characteristics and attributes, such as offer markers, prices, allocation criteria, competitors, etc.

If you want to continue delving into the management and monitoring systems for tenders, and how these can help you overcome the challenges and take advantage of the new opportunities in the tender market, we recommend that you read our post “Tenders Management & Monitoring: Keys to success”.

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