A European pharmaceutical company sought to expand its geographical reach owing to offset the effects of increasing competition and patent expiry. The company was looking for a detailed cost structure analysis, potential market opportunities in untapped regions, and the threat from upcoming pipeline products.
Straits Research worked with industry experts to understand the market maturity, upcoming pipeline products and their expected launch, and untapped regions for the market. The study was conducted in different phases, starting from understanding the client’s detailed requirements and exhaustive primary and secondary research tothe study of market parameters.
As the pharmaceutical industry is competitive, sales and marketing strategy is the most critical for players. Our research team monitored the market competition, availability of raw material, labor cost, pricing, detailed cost structure, and government regulations, helping our client to expand their business.
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.
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:
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: