How we Used Market Opportunity Assessment to Enhance Small Molecule Drug Development For a Pharma Client
Given the rapid advancements in technology, there are plenty of growth opportunities across markets, but not all businesses have the capabilities required to identify and tap into them. This often presents a fundamental challenge to businesses in the biopharma industry. Identifying and capitalizing on new market opportunities in an ever-changing environment like pharma requires a research-backed market opportunity assessment.
Irrespective of the market position, i.e., start-ups or well-established firms, not many businesses have the research expertise, time, and resources to conduct an in-depth market opportunity assessment. At Infiniti, we leverage a realistic approach to conduct a market assessment study customized to meet the needs of our clients and the markets they operate in. Our tried and trusted research methodologies are bolstered by a comprehensive understanding of global markets and the strategies of leading businesses in every industry.
The recent advancements in pharma have impacted the pharma landscape leading to drug development delays and diminished R&D productivity. Conducting an in-depth market opportunity assessment can help you thrive amid such uncertainties.
The client is a North American mid-sized pharma company specializing in small molecule drug development. The company is also known for developing and manufacturing therapeutic prescription drugs. As drug development involves huge costs, it requires businesses to analyze the demand for their product at an early stage in drug development. Infiniti Research leveraged market opportunity assessment and portfolio prioritization metrics to help the client identify and capitalize on market opportunities. Identifying and tapping into new market opportunities is essential for businesses to succeed in the long run. A detailedmarket opportunity assessmentacts as a cornerstone of a successful business by helping you capitalize on new opportunities. Request a free proposal. Over the past few years, several factors have impacted pharma companies, including growing competitive pressures from new market entrants, the evolution of drug development methodologies and drug formulations, and the growing market needs. Many of these factors significantly contributed to the clients declining margins and market position. Evaluating the market size for opportunities is crucial for pharma companies to successfully launch their product. Our client wanted to analyze the market size for their new drug by conducting a market opportunity assessment. They wanted to leverage this insight to create a product launch strategy and impact the lives of patients across geographies. Analyzing barriers to entry can
help businesses develop a strategy that meets both business and market
requirements. In this case, our client wished to gauge the competitive
landscape and analyze similar offerings that could potentially impact their market
success using market opportunity analysis. Lack of market insights and visibility posed a major challenge for the client in this study, as they were unable to define a clearbusiness strategyand justify their actions. Request a free brochure to learn more about market opportunity assessment and its benefits. Based on a detailed analysis of
the clients challenges, we recommended a three-pronged qual-quant research
methodology to capture and validate real-time market insights. We began the
project with a qualitative exploration of the clients industry perceptions and
drug development approach. We then conducted robust quantitative research by
leveraging online surveys to explore unmet market needs and analyze the market
opportunity for novel compounds. The three-pronged approach to market opportunity assessment offered critical research insights around the competitive landscape, market opportunities, drug development, and market positioning. In the initial phase of market opportunity assessment, both primary and secondary market data from various sources were leveraged to identify in-market and evolving players who could be future competitors. Product profiling based on market segments was also conducted parallelly to understand the offerings of leading market players. Our global market research team also analyzed the pricing strategies of similar products and created price benchmarks to accelerate the creation of new pricing policies for the client. Market opportunity assessment empowered the client with in-depth research insights covering various factors like competitor offerings, market opportunities, regulatory timelines, administration routes, technologies employed, and new formulations.Using these insights, the client devised a robust drug launch strategy that helped them find a stronger niche in the market. Market opportunity assessment also enabled our client to improve decision making and drug development by driving improvements through: Drug development timelines and new drug launches are crucial factors impacting the growth of biotech and pharmaceutical companies. To address these issues, businesses must analyze market opportunities at an early stage of drug discovery and development. We at Infiniti help pharma and biotech companies assess and evaluate new opportunities systematicallyby offering research-backed market insights using market opportunity assessment studies. Our approach to market opportunity assessment research is comprehensive and can help pharma companies find answers to the following: A must-read case study for
strategists and decision-makers looking to identify new market opportunities. Request
more information to gain comprehensive insights into our approach to market
opportunity analysis. Our strength lies in the unrivaled diversity of our international market research teams, innovative research methodologies, and unique viewpoints that merge seamlessly to offer customized solutions for your every business requirement. Introduction to PFAS Per- and polyfluorinated alkyl substances (PFAS) are a large family of over 9,000 human-made chemicals found in everyday items such as non-stick pans, grease-resistant pizza boxes, and waterproof clothing. These chemicals first appeared in the 1950s and are known for their persistence in the environment and in the human body, earning them […] Introduction Gene editing, an advanced technique in molecular biology, allows scientists to modify, eliminate, or replace mutated genes at the DNA level. This field has experienced remarkable progress due to precision tools like CRISPR and TALENs, which act as molecular scalpels to perform targeted genetic modifications. Precision Tools and Technologies CRISPR-Cas9 is a standout among […] What is the report about? Liquid filters are essential equipment used to separate suspended solids from a fluid stream, typically through a physical barrier called the filter medium. This process is crucial in various industries, particularly in the production of goods intended for human consumption such as beverages and drinking water. Market Segmentation The global […] Nonwoven fabrics, traditionally used in wipes and medical textiles, now span a broader range of industries, including automotive, geotextiles, and architecture. Their adaptability makes them essential in air and liquid filtration, agriculture, and beyond. Sustainability and Eco-Friendliness Growing environmental consciousness drives the future of nonwoven fabrics. Sustainable innovations in sourcing and manufacturing integrate biodegradable and […] Generative AI leverages algorithms to create content, ideas, and solutions traditionally reliant on human creativity. It trains models to learn patterns and generate new content, benefiting industries like banking, retail, and healthcare. Generative AI enhances creativity by crafting art, composing music, and writing stories, while AI tools assist content creators by automating tasks, suggesting ideas, […] Written By: Vishesh Kumar Where has the pricing strategy model gone wrong and how to fix it? How much to charge for my product or service? What is going to be my strategy of pricing? Those are key questions staring at senior executives responsible for making decisions around the pricing model at any enterprise. In […]About the Client
The Business Challenge
Evolving business landscape
Market size for new
opportunities
Barriers to market entry
Market Opportunity Assessment: Our Approach
Outcome
How Infinitis Market Opportunity Assessment Research Can Help
Biotech and Pharma Companies
Our custom market opportunity assessment research offerings include:
We help our clients make smarter decisions to achieve rapid business growth
Insights
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Why the Pricing Strategy Model Needs a Makeover in Dynamic Markets?