We provide an accurate and comprehensive assessment of the market, highlighting the competitive landscape, key trends, pricing data, current market size, future outlook, key challenges and opportunity areas for different stakeholders, and emerging pockets of growth. Our market assessments are based on informed assumptions related to the likely factors that have the potential to drive industry growth, factoring in contributions from specific product types. Specific to a particular product, we also benchmark product competitiveness, vis-Ã -vis develop a detailed perspective against other commercially available products and / or products under development. We also recommend Key Performance Indicators (KPI) and Key Success Factors (KSF) based on product benchmarking, competitive intensity, patient preferences and market positioning.
Case Study: Novel Device Commercialization
- The client is a Europe based firm involved in designing, developing and manufacturing of drug delivery systems. Within its portfolio of devices, it has two novel drug reconstitution systems in the early stages of development.
- The client envisioned commercializing these devices in the near future. However, before commercialization, it was keen to assess the market’s potential and determine its relative product positioning against / across other novel devices under development.
- The primary intention of the client was to identify a winning strategy aligned with its core competencies and overcome market barriers to drive widespread adoption.
- To do a comprehensive product mapping of novel drug reconstitution devices highlighting the product competitiveness and relative comparison across technical and user-friendliness features.
- To identify the overall market opportunity for novel systems, specially highlighting emerging pockets of growth when new systems emerge from investigational use for wider adoption.
- To recommend Key Performance Indicators and Key Success Factors based on product benchmarking, competitive intensity, patient preferences and market positioning
- A database of competing novel / conventional drug reconstitution devices with a robust view on specific novel features.
- Detailed market assessment of the current unmet needs and the likely factors that will drive a higher adoption of the client’s devices across multiple end-use cases. Among others, this included a discussion on relative cost, requirement for trained operators, regulations, guidelines and reimbursement.
- A forecast model to estimate the likely growth of the novel drug reconstitution systems market based on informed assumptions focused on the overall industry growth rate and contribution from each specific type of device.
- The inputs helped the client design an integrated strategic planning framework taking into consideration the technical roadmap and perceived commercial milestones. Roots Analysis assisted in the two day leadership team workshop.
- The weightage based, comprehensive and user-friendly benchmarking tool provided significant insights on the industry best practices.
- The opportunity analysis, aligned with management’s investment philosophy, gave a strong push to the research teams instilling confidence in their ongoing efforts and providing a vision to the firm’s future plans