market intelligence process Archives - Business Intelligence

Tag: market intelligence process

Pharmaceutical Value Chain + Market Intelligence

Restoring Normalcy in the Pharmaceutical Value Chain: The Impact of COVID-19 and the Next Step to Success

The COVID-19 pandemic has challenged industries, countries, and governments endlessly over recent months. The spread of the virus has led to a range of issues that impact the foundation and functioning of business operations, GDPs’, and supply chains. All industries are now working towards recovery, and the pharmaceutical industry is attempting to regain control and functionality across the pharmaceutical value chain.

The pharmaceutical value chain includes every component and every process from manufacturer to end-consumer. This includes, but is not limited to, manufacturing, acquiring regulatory approval, import and export, distribution, and retail. The safety regulations, nationwide lockdowns, and transportation disruptions caused by the COVID-19 pandemic are among the biggest factors impacting the pharmaceutical value chain.

Pharmaceutical companies have attempted to develop more streamlined processes and taken various initiatives prior to the COVID-19 pandemic due to the pharmaceutical value chain’s fragmented nature. However, few have succeeded, and the different strategies utilized by companies did not protect the value chain from the hard-hitting impact of the COVID-19 pandemic.

As the pharmaceutical industry focuses its effort towards recovering the pharmaceutical value chain, companies must understand the impact of the pandemic. Therefore, in this article, Infiniti’s market intelligence experts detail the effects of the COVID-19 crisis on the pharmaceutical value chain. Additionally, they discuss the best path to recovery for pharmaceutical companies and highlight the value of market intelligence solutions in this attempt to return to normalcy.

The pharmaceutical industry is on the path to recovery and companies need to strategize for the changing market dynamics and impact of the COVID-19 pandemic. Speak to our industry experts to learn how companies can develop the optimal strategies to face these challenges.

Impact of COVID-19 on the Pharmaceutical Value Chain

As is the case with most industries, there have been innumerable problems posed by the advent of the COVID-19 pandemic in the pharmaceutical value chain. However, three major segments have been severely impacted and will need the most focus and recovery strategies from pharmaceutical companies. The impact of the COVID-19 pandemic on the pharmaceutical value chain can be witnessed in the following three segments:

Pharmaceutical Value Chain + Market Intelligence

APIs and the Dependence on APAC Countries

The pharmaceutical industry’s raw material supply chain was disrupted by the high dependence of pharmaceutical companies on China and India. The two APAC countries source a majority segment of the active pharmaceutical ingredients (APIs), intermediates, and reagents required by pharma companies. Since China was the first infected country, the raw material supply chain was slightly challenged. However, the spread of the virus has impacted India severely and caused a major disruption in the pharmaceutical value chain.

While China is on the path to recovery and is attempting to return to normalcy, India has many obstacles to overcome before it can successfully overcome the impact of the COVID-19 crisis. Restoring operations and recovering from the effects of the pandemic will cost the pharmaceutical value chain a substantial amount of time and effort due to this factor.

Logistics and Distribution Challenges

Countries across the globe have announced nationwide lockdowns and severely limited domestic and international transportation. Although this step was crucial for the containment of this deadly virus, it has led to major logistical challenges across industries. The pharmaceutical value chain has been similarly impacted due to transportation and distribution limitations.

The fragmented nature of the pharmaceutical value chain is one of the reasons the transportation restrictions are impacting the industry severely. The process involves the procurement of various raw materials from different locations in the APAC, North American, and European regions. Additionally, the manufacturing, packaging, distribution, and retailing are conducted in various areas. With the continuous spread of the virus and government restrictions on population movement and transportation, pharmaceutical companies need to evaluate their distribution and logistics strategies to maintain business continuity.

Paused Clinical Trials and the Drug Development Process

A large number of clinical trials worldwide have been suspended, postponed, or halted since the advent of the COVID-19 pandemic. Stakeholders consider this the most impacted segment in the pharma industry. Due to the need for social distancing, the limitations on transport, and the requirements of new hygiene protocols, conducting clinical trials and collecting real-world evidence has been challenging for pharma companies. The halting of clinical trials translates into a delay in the development and time-to-market for various therapies and drugs.

Simultaneously, pharmaceutical companies are struggling to conduct clinical trials to develop a vaccine for the SARS-CoV-2 virus, which causes COVID-19. However, they face challenges finding ideal candidates and carrying out their clinical trials despite the various limitations. Pharma companies and governments are working towards digitalizing the clinical trial process with innovative alternatives such as telemedicine and mailing trial drugs. Efficiently digitalizing, and overcoming the various challenges caused by the COVID-19 pandemic will help companies develop a vaccine and fast-track recovery worldwide.

Understanding the impact of the COVID-19 pandemic on the pharmaceutical value chain is a crucial step for recovery in the pharmaceutical industry. Request more information to gain more in-depth insights into the challenges caused by the pandemic and the next step to recovery.

How can Market Intelligence Solutions help Pharmaceutical Companies Overcome the Impact of COVID-19?

Pharmaceutical companies need a series of solutions to assist them in their attempt to recover from the impact of the COVID-19 pandemic. The pharmaceutical value chain has been significantly disrupted through 2020, and by re-establishing normalcy soon, companies can minimize the long-term implications of the pandemic across the value chain.

Infiniti’s market intelligence solutions can provide companies with insights, guidance, and strategies to help their industry recover as quickly as possible. There are various crucial factors that pharma companies must focus on during the process of recovery, and Infiniti’s market intelligence solutions can help them adapt and recuperate as required. Our market intelligence experts can help pharma companies and the pharmaceutical value chain in the following crucial ways:

  • Companies must improve transparency on the various levels of the supply chain and identify alternative sources for the different raw materials or services that are unavailable. Infiniti’s demand planning solutions enable companies to provide visibility into their operations and supply chains required to make real-time decisions and keep stakeholders informed.
  • There is also an increasing need for companies to analyze their inventory, estimate the available inventory across the value chain, and attempt to continue production and delivery to customers. With Infiniti’s inventory management solutions, companies can try to fulfill customers’ demands despite the disruptions caused by the COVID-19 pandemic.
  • Pharmaceutical companies must also focus on understanding and strategizing for the changing demands of their consumers. With social distancing and new hygiene protocols, consumers have been less likely to renew their prescriptions. Infiniti’s demand management solutions can enable companies to predict, plan, and meet customer demands accurately.

The pharmaceutical industry can successfully recover the pharmaceutical value chain with efficient planning, management, and strategizing. Infiniti’s market intelligence solutions provide companies with the data-driven insights and expert guidance they require to efficiently overcome the impact of the COVID-19 pandemic across the value chain.

Infiniti’s market intelligence solutions can serve as the differentiator between a quick recovery and additional challenges for companies attempting to recover the pharmaceutical value chain. Request a free proposal to enter the post-COVID era as a pharmaceutical industry champion with our expert insights and guidance.

Market intelligence services

Market Intelligence Services to Support a Chemical Company in Meeting their Research and Information Needs

“The chemical sector will continue to grow in 2020 and beyond despite a challenging global economy”, according to a market research expert at Infiniti Research.

The chemical industry has had a longstanding presence worldwide and contributes significantly towards the national GDP. However, rapidly evolving market dynamics and rising pressure from competitors have put companies in the chemical industry under a negative spotlight. Such challenges coupled with the rise in governmental and regulatory pressures have made it challenging for companies in the chemical industry to setup strict quality and process control measures and adapt to the fast-evolving market changes.

To succeed in the long-run, chemical companies will need to understand the industry’s fluctuating dynamics, as well as the market opportunities and sources of cost advantage. As such, they are partnering with firms like Infiniti Research to leverage their expertise in offering market intelligence services.

Our well-experienced market intelligence services experts can help you improve your core business activities and achieve significant cost savings. Request a FREE proposal today.

Business Challenge

The client is a chemical manufacturer and supplier based out of Canada.

With technological advancements and constant innovations in manufacturing processes, the client faced difficulties in managing their production and distribution processes. In addition, the lack of adequate insights into the local markets, regulatory changes, and key insights related to end-user segments in the US made market expansion challenging for the company. Furthermore, the company required marketing and operational support to increase pipeline growth and speed up the routine tasks in a cost-effective manner.

They approached the experts at Infiniti Research to leverage their expertise in offering market intelligence services. With Infiniti’s market intelligence services, the client also wanted to:

Focus on core competencies – The client spent huge capital into targeting non-profitable customers and on developing products with low market demand. As a result, they witnessed a huge dip in their sales rate. With Infiniti’s market intelligence services, they wanted to efficiently focus on core business activities and pursue profitable market opportunities and maximize efficiency in their core business activities.

Get reliable information support – With constant changes in the market and unexpected demand fluctuations, the client’s corporate strategy team faced difficulties in making well-informed business decisions. Also, lack of insights into the US chemical industry made it more challenging for the company to successfully establish a foothold in the US chemical sector. With Infiniti’s expertise in offering customer market intelligence services, they needed support on gathering insights on various competitive products, local markets, regulatory changes, and target customers. In addition, with Infiniti’s market intelligence strategy, they wanted a country-level assessment report to identify profitable markets for expansion.

Implement structured and hassle-free process – The client also needed support in product comparisons and benchmarking. Furthermore, with Infiniti’s market intelligence services, they wanted to enhance demand forecasting accuracy for their products. In addition, with Infiniti’s market intelligence services, the client wanted to set up a structured process to streamline all requirements and meet customers’ demand in a flawless manner.

Are you facing challenges in managing multiple vendors and processes? Our experienced market intelligence services experts can help. Contact us to leverage our market intelligence services.

Solutions OfferedMarket Intelligence ServicesOur market intelligence services followed a four-phased approach. The initial phase involved understanding the client’s business objectives and analyzing their requirements. The second phase of the market intelligence services engagement involved a pilot study, which helped the client to estimate the capital and resources required for the market expansion plan.

The third phase of the market intelligence services engagement involved qualitative and quantitative market research and interviews with leading players in the chemical sector. The last phase of Infiniti’s market intelligence services engagement involved process standardization, where the experts helped the client to incorporate structured process and standardize quality and process control measures.

Furthermore, the experts at Infiniti Research provided a detailed country-level assessment report to the client. The report covered detailed insights into the chemical sector, regulatory changes, export-import tax details, and value chain updates. In addition, the experts also provided detailed insights into their key competitors at a global level. Also, by conducting a competitive benchmarking study, the experts helped the client to understand how well their product will compete in the market compared to their competitors.

Results Obtained

The insights obtained from Infiniti’s market intelligence services helped the client to gather complete insights into the market and pursue profitable business opportunities. This helped them to structure their processes and focus on their core business activities. This further helped them to enhance efficiency in their decision-making process.

In addition, by gathering complete insights into the new market, they were able to devise a sound go-to-market strategy and make smooth entries into untapped areas. This further helped the client to enhance their market share and achieve a huge increase in their sales rate.

Entering into successful joint venture and partnership further supported them in expanding their operations across various regions. And, our research team supported the client in meeting their research and information needs across all the stages of market expansion in a cost-effective manner.

Request for more information to know other benefits of market intelligence process for your business.

Why Businesses Choose Infiniti’s Market Intelligence Services?

Infiniti Research has over 15 years of experience in working with leading companies across the globe. With experienced, trained, and dedicated analyst support, we provide timely, actionable, and quality insights to help organizations focus on core business activities and succeed in today’s competitive marketplace. Our market intelligence services also assists sales and marketing teams in enhancing pipeline growth and dealing closures. Moreover, our market intelligence services help functional teams to optimize and speed up routine tasks in a cost-effective manner.

Request a FREE brochure to gain detailed insights into our market intelligence services portfolio and know their benefits for your business.

Our market intelligence center of excellence covers the entire gamut of research and analytics services for your in-house research and corporate strategy team. Here’s an overview of our industry-leading engagement models.

Infiniti’s Market Intelligence Center of Excellence: An Overview of our Industry-leading Engagement Models

Infiti Logo

Hello there!

Contact us to know more about our cost-effective custom market research offerings to support efficient market penetration, new product launch, and devise strategies to monitor and outperform your competitors.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice