Requirement
A U.S.-based pharmaceutical company was approaching the end of Phase II trials with a drug compound. The company’s internal team was confident about tapping market potential in the Americas; however, Europe and APAC were considered tricky due to limited market knowledge and distribution network. The client wanted detailed insights on the competitors and their products along with an analysis of consumer base, pricing and promotion strategy, and potential local partners.
Solution
The project was executed in two stages. In the initial stage, Straits Research conducted primary market research with Key Opinion Leaders in the market to understand:
- Price sensitivity,
- Market penetration,
- Application,
- Market maturity, and
- Client product vs. the key competitor’s product on various parameters (efficacy, availability, brand value, and others)
Simultaneously, a product pipeline study was conducted for similar types of products. The output formed the platform for the second stage, and a detailed market study was conducted on the countries of Europe and Asia, which included:
- Detailed forecasting for high potential countries
- Global and local competitive intelligence
- Opportunity analysis
- Pricing determinants and analysis
- Regulatory framework by country/region
Reports