Tag: consumer health market research

supplement market

Growth Factors for the Global Supplement Market

Today, health is not just a goal but a lifestyle choice. This shift in the preferences of the populace is driving the growth of the global supplement market. It is so evident that the sales of vitamins, minerals, nutritional, and herbal supplements have been on the rise in the last decade or so. Today, the global supplement market is worth billions of dollars and is growing about 5-6%, annually. So what is driving the growth of the global supplement market?

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Aging population

One trend that is worrying the world is the rise of aging population and the declining birth rate. In the developing parts of the world, especially Scandinavian countries, the birth rate has been declining higher than expected. This will bring about a shift in spending in the healthcare sector. As a result, drug manufacturers are focusing on dietary supplements whose purchases have been growing annually.

Consumer awareness

The advertisements of dietary supplement market have bombarded the media, be it TV commercials, magazine ads, or posters. The supplement companies have recruited celebrity doctors to endorse their products, making people believe that supplements are necessary to lead a healthy life. In addition to that, many online articles and forums like Livestrong, bodybuilding, Men’s Health, and Shape give diet and lifestyle advice demonstrating the importance of dietary supplements. Such an abundance of available information has been a key driver for consumer purchasing.

Self-care culture

“Ask your doctor to prescribe you x drug”. An advertising line that is popular across the American media has prompted consumers to be self-aware of the drugs. Today, supplement market consumers are no more relying on doctors for diagnosis, they are looking at alternative channels to identify health needs. This is also driven by the fact that insurers encourage customers to take preventive care measures. Also, many supplement market consumers validate the diagnosis of the doctor by cross-referencing the information available on the internet. This behavior has encouraged the manufacturers in the supplement market to educate customers of the product portfolio. This self-care culture is driving the demand in the global dietary supplement market.

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Channel proliferation

The manufacturers in the global supplement market are highly fragmented and serve a diverse set of customers across the world. The leading manufacturer Living Essentials holds less than 10% market share globally. Additionally, there are many private label brands which account for 10% of the sales. The lack of brand awareness amongst the customers is the reason for such market fragmentation. It comes as no wonder that a majority of the sales happen in supermarkets and hypermarkets, followed by online stores and specialty retailers. Such channel proliferation has significantly driven sales in the global supplement market.

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IR14

Study on the Healthcare Market Access in Middle East, Southeast Asia, and Africa

Business Challenge
A global healthcare consulting company specialized in the delivery of patient-focused market expansion strategies wanted to understand the potential for its market access service portfolio in the Middle East, Southeast Asia, and Africa.
Situation
The client required a comprehensive study focused on assessing the current and evolving healthcare infrastructure in its target markets. It also wanted to obtain insights on how access to healthcare is handled, including insurance, reimbursement, and access programs.
Approach
We adopted a two-phased approach for this study. The first phase consisted of an assessment of the target markets and evaluation of the key needs and concerns of clients/ customers through analyst-led in-depth interviews of shortlisted key stakeholders. The second phase involved the development of insights.
Impact
Based on our insights, the client was able to restructure its service offerings in the specified regions by aligning its strategies with the anticipated evolution of the market over the next 5–10 years, and customizing its services to address the emerging needs.
IR28

Competitive Assessment of Chronic Back Pain Medication Market

Business Challenge
A leading pharmaceutical company wanted to understand the competitive landscape and assess the growth strategies of its top competitors in the global chronic back pain medication market.
Situation
The client wanted to gain insights on its top competitors across offline channels, and to understand its competitive landscape in terms of product offerings, market shares, sales and distribution structure, and future plans of competitors.
Approach
We conducted in-depth primary and secondary research to benchmark the channel-specific sales strategies of the company’s top competitors and analyze the key differentiators in sales planning that helped them achieve higher growth and market share.
Impact
The client obtained insights specific to the future plans of the competitors, which helped it to anticipate the likely next moves of the competitors, and create countering strategies to outsmart the competition.
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Competitive Intelligence on Recruitment Incentives Plans Deployed by Pharmacies in the US

Business Challenge
A global pharmaceutical retailer company wanted to understand the strategies of its competitors specific to recruitment incentives provided to the employees.
Situation
The client wanted to understand the recruitment incentive programs executed by various retail pharmacy competitors to attract the best talent and to retain them for a long duration, thus creating employee goodwill in the long term.
Approach
Infiniti supported the client through a 2 phased research including initial scanning of six competitors and shortlisting of top 3 in phase I, followed by deep-dive study of three competitors in Phase II, for evaluation of the various recruitment incentives offered by various competitors, time-frames related to these incentives and their future strategies for these programs.
Impact
The client was able to develop specific recruitment incentives targeted at pharmacists, and create action plans to enable funding of the programs, thereby increasing the satisfaction and acceptance with respect to these programs.
ir9

Customer Assessment Study for Health Insurance Programs in South Africa

Business Challenge
A leading US-based healthcare company wanted to conduct a customer survey to identify the key concern areas among current and potential customer segments of health insurance programs in South Africa.
Situation
The client wanted to reassess its health insurance program and associated costs in South Africa. It also wanted to refine its business practices based on market insights such as common concerns in potential customer segments.
Approach
We used our database of key stakeholders and also deployed our information source mapping team to identify additional contacts who could provide information specific to the client’s research needs. We then conducted 200+ surveys to obtain the required information.
Impact
Our extensive assessment of the client’s potential customer segments and the insights that we gathered on emerging requirements in South Africa helped the client formulate its business strategies to achieve high customer satisfaction and to expand its client base.
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Competitive Analysis of Personal Care Brands in Indonesia

Business Challenge
A personal care products manufacturer market wanted to evaluate its competitors’ marketing strategies in the Indonesian market, to make changes in its own strategies and improve market visibility.
Situation
The client was a new entrant in the market, and wanted to evaluate the marketing strategies of its major competitors, understand how they were approaching their target customer segments, and the kind of communication strategies used by them, in order evaluate if any changes were required in its own brand communication strategy.
Approach
We mapped competitors’ market growth, marketing strategies, communication channels, advertising messages, and promotion platforms to analyze how they were translated into market growth.
Impact
The client identified and ranked the most effective promotion channels, altered its marketing strategies and reallocated its marketing budget, such that it was able to focus on the best channels of customer engagement, and increase its visibility in the Indonesian market.
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Competitive Analysis of Premium OTC Skincare Brands in Indonesia

Business Challenge
A leading skin care products manufacturer wanted to assess the competitive landscape for its skincare products.
Situation
The client wanted insights on its top three competitors in Indonesia, covering their strategic focus, market expansion plans, sales expectations, and marketing initiatives.
Approach
We conducted a detailed competitive assessment of the specified competitors, covering their sales and distribution structure, advertising spend, partnerships with vendors, and future strategies.
Impact
Based on our insights, the client gained a comprehensive understanding of its competitors’ upcoming strategies and was able to restructure its own sales and promotion programs to subvert competitive threats.
Answers to the questions

Product Promotion Strategy and Benchmarking for Dermatology Products

Business Challenge
A leading pharmaceutical company wanted to assess the effectiveness of its competitors’ promotional activities and also to assess their growth strategies.
Situation
The client wanted to understand how its competitors are performing and assess their key strategies for product promotions, positioning, and marketing efforts.
Approach
We conducted in-depth primary and secondary research to understand the market position and sales and marketing strategies of the company’s competitors and also did an assessment of their current and future promotional strategies.
Impact
The client was able to streamline its approach based on the insights we provided regarding the performance of its competitors and their segment-specific promotional mix and marketing and sales strategies.
IR29

Market Entry Strategy Planning for Launch of Dermatology Products in Asia

Business Challenge
A leading Europe-based healthcare firm wanted to evaluate potential markets to assess the possibility of entering the Dermatology market in Asia.
Situation
The client had gone through a corporate strategy overhaul, and as part of its global expansion strategy, was planning to enter Asia. In-depth research was required to understand which market segments to focus on, in which order, and further, to establish a market entry plan for various Asian markets.
Approach
We conducted country-specific studies spanning 10 Asian markets and ranked the top six potential markets based on opportunity, complexity, regulatory environment, number of competitors, growth rate, available sales channels and key success factors, in order to provide recommendations on market entry and route-to-market plans.
Impact
Based on our insights, the client was able to identify the go-to-markets in Asia, design a strategy for thought leadership for market entry, and launch its services in the top two markets with the greatest revenue potential.
IR13

Assessment of Global Urological Diseases Market

Business Challenge
A leading healthcare firm was interested in the assessment of the prevalence of urological diseases in several countries so that it could create targeted marketing strategies for its products.
Situation
The client wanted to understand the prevalence and spread of urinary incontinence, urological disease, femoral hernia, incisional ventral hernia, inguinal hernia, and umbilical ventral hernia and their treatment procedures across 20+ countries/regions to evaluate the demand for its urological products.
Approach
We conducted extensive secondary and primary research covering doctors, care givers, and clinic managers to assess the prevalence and spread of urological diseases by number of cases, treatment procedures, and understanding the type of urological equipment used for treatment.
Impact
Based on our insights, the client was able to identify the major potential markets and design a strategy for targeted marketing of its products in these markets to achieve  high revenue growth and market share.