Despite robust sales of rheumatology drugs and the positive impact of expanding geriatric population, the market for rheumatology therapeutics is undergoing a lean period due to the advent of biosimilars.
Rheumatology is essentially a sub-specialty of internal medicine dedicated exclusively to patient care, research, and education in the avenues of rheumatic arthritis and autoimmune diseases. Hectic lifestyles, unhealthy eating habits, and a dearth of physical activity has led to an increasing number of individuals around the world suffering from joint and connective tissue problems. Experts believe rheumatic diseases are caused by a combination of genes and environmental factors. In general, having certain gene variants can increase a person’s susceptibility to rheumatic diseases, and factors in the environment may trigger the onset of the disease.
Rheumatology centers are medical centers committed to the treatment of rheumatic diseases and problems related to joints, soft tissues, and autoimmune and heritable connective tissue disorders. Some of the major rheumatic conditions are neck pain, back pain, osteoarthritis, and bursitis. Globally, rheumatology centers provide advanced and rationally based care to its patients and are involved in the research and developmental activities concerning early diagnosis and treatment. It provides a multidisciplinary setting for patient care, including physician and nursing services, diagnostic and therapeutic radiology, and physical and occupational therapy. Moreover, many rheumatology centers offer special programs for patients with osteoarthritis, rheumatoid arthritis, gout, and metabolic arthritis.
The Business Challenge
With an aim to identify future market opportunities, the client – one of the largest pharmaceutical companies in the world – approached Infiniti to engage in a market opportunity assessment to identify and profile the top rheumatology centers across North America and Europe. The scope of this engagement was to help the pharmaceutical and medical devices company develop a database of rheumatology centers within the target regions, which would be updated on a regular basis. The insights offered through this market opportunity study would function as a country-specific market map to identify potential market opportunities in specific countries.
The key objective of this market opportunity assessment was to develop a master database of major rheumatology centers across the US, Canada, UK, Germany, France, Italy, and Spain. The proposed master list of rheumatology centers would serve as a market map for each country and act as a decision support tool to determine the marketability of their medical devices and services in each country.
Additionally, Infiniti’s “market opportunity assessment” team tracked recent developments and innovations in the medical devices industry through journals and reached out to relevant stakeholders, including product users, industry experts, KOLs, and procurement experts to assess their views on the market’s landscape. Our market opportunity assessment team also spoke to key stakeholders responsible for the sales and distribution of medical devices to gain insights on how the market would grow in the short and long term to validate the market opportunity assessment model developed for this segment.
Why Infiniti Research is the preferred partner for more than 55 Fortune 500 Companies
Solution Offered and Business Impact
To meet the specific category requirements of the leading pharmaceutical and medical devices manufacturer, our industry experts – who have extensive experience in healthcare, medical devices, and pharmaceutical verticals across the globe – followed a two-step research methodology. The approach involved an analysis of the major rheumatology centers for each country under focus and an assessment of the major profiles for rheumatology centers. Infiniti’s strategy experts also referred to a variety of healthcare information sources to gather quality insights during each step of the research engagement. The insights garnered for this market opportunity assessment were obtained from an assessment of the rheumatology market and allied healthcare industry reports, medical databases and patient statistics, hospital reports, white papers, magazines and publications, publications of traders and distributors, and case-studies.
In a mere span of 14 weeks, the pharmaceutical company was able to gain insights into the market landscape for rheumatology centers within North America and Europe. The information obtained through this engagement also helped the client develop an effective market map to identify potential market opportunities.
To assess and address challenges specific to healthcare market space, Infiniti’s research specialists have developed a scrupulous proprietary database consisting of information on more than two million industry experts, physicians, key opinion leaders, doctors, medical technicians, end-users, and patients.
What do the clients appreciate about our approach?
In a relatively short period of time, just 14 weeks, the client saw clear benefits from our market opportunity assessment. The market opportunity services offered by Infiniti helped the pharmaceutical and medical device manufacturer augment their revenue potential by providing insights into how they can identify potential market opportunities for their products and services.
Here are some of the key points appreciated by our clients
- Dedicated Market Opportunity Portal. 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 experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Database Access. Access to a patient database containing information about 60+ medical diseases and conditions, such as a patient undergoing treatment, untreated patients, and patients with chronic conditions.
- 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 client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.