Analyzing the Market Landscape for Permanent Contraception Through a Market Research Study
The rapid increase in the usage of contraceptives is a result of the unmet need for family planning and is expected to double in the coming years. Over the last decade, the market for contraceptives has witnessed fast-paced growth due to rising awareness of reproductive health, family planning, and a wide array of options available […]
The rapid increase in the usage of contraceptives is a result of the unmet need for family planning and is expected to double in the coming years.
Over the last decade, the market for contraceptives has witnessed fast-paced growth due to rising awareness of reproductive health, family planning, and a wide array of options available for contraception. With increasing government and NGO initiatives to promote contraceptives, significant population growth, and rising global prevalence of sexually transmitted infections are some of the key factors fueling the growth of this market. The adoption of new permanent contraceptive practices instead of tedious family planning procedures is another major driver, especially in low-income countries. Moreover, to augment the adoption of contraceptives, several countries are mandating its coverage by the health insurance companies.
Although the contraceptives market has witnessed considerable growth, it is prone to several unprecedented challenges. The side effects associated with the use of contraceptive drugs and device, rising prevalence of infertility, and the lack of social acceptance are primary challenges hindering the growth of the market. In addition to the prevailing challenges, lack of information and misconception about the use of contraceptives will further curtail the growth of the market. Infiniti’s team of experienced market research experts have an in-depth understanding of the healthcare industry and provide valuable, strategic insights to the client in terms of market analysis, market sizing and forecasts, and competitive assessment and benchmarking.
The Business Challenge
A medical product manufacturing company based out of the US wanted to analyze the adoption patterns of the newly introduced 505 device across the EU and the US by physicians and consumers. The client was facing challenges understanding the impact of launching 505 device in the target regions, patient demand, product awareness, and the expected cannibalization of the current product (305 device). As a part of the market intelligence study, the client also wanted to analyze the pricing structure and solutions to augment patient demand.
Our Research Methodology
Our team of experienced market intelligence experts carried out extensive primary research comprising of telephone interviews, CATI, web-based surveys, and questionnaire to provide strategic insight into the market scenario. Also, through our conjoint analysis framework, our experts created a dashboard of information from physicians, doctors, surgeons, hospitals, and clinics.
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Our Solution Helped the Client:
- Gain insights into the potential adoption pattern and demand for 505 device
- Develop an effective pricing strategy for the target regions
- Identify factors/solutions that would boost patient demand
Benefits of Our Integrated Approach
Within a span of 12 weeks, our market intelligence team got a comprehensive review of the market, products and stakeholders, along with the product attribute analysis. We helped the client to effectively plan the market entry strategy and target most relevant customer segments. Moreover, the client saw clear benefits in terms of their market position and helped them tap potential markets.
Some of the key points appreciated by our clients
- Dedicated Market Assessment. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative Learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Interactive Dashboard. Using our portal-based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated market intelligence team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read case study for strategy experts and decision makers looking to gain insights into the permanent contraception market
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