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opportunity analysis

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. Contact our experts to know more.

About the Client

The client is a Canadian 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 detailed market opportunity assessment acts as a cornerstone of a successful business by helping you capitalize on new opportunities. Request a free proposal.

The Business Challenge

Evolving business landscape

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 client’s declining margins and market position.

Market size for new opportunities

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.

Barriers to market entry

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 clear business strategy and justify their actions. Request a free brochure to learn more about market opportunity assessment and its benefits.

Our Approach

Based on a detailed analysis of the client’s 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 client’s 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.

Outcome

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:

  • The design and development of a product profile
  • In-depth analysis of market needs
  • Quantification of market opportunities
  • Business expansion and portfolio development

How Infiniti’s Market Opportunity Assessment Research Can Help Biotech and Pharma Companies

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 systematically by 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:

  • What are the unmet needs in the market?
  • What is the viability of the new drug formulation?
  • What is the size of the opportunity?
  • How to identify market opportunities?
  • What is the likely demand for the new drug?
  • Where are the growth markets?
  • Who are the competitors?

Our custom market opportunity assessment research offerings include:

opportunity analysis

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.

market opportunity analysis

Market Opportunity Analysis Helped an Industrial Heating Systems Manufacturer Build a Detailed Five-year Business Development Plan

The evolving technological advancements and new market trends have redefined customer demand for industrial equipment across geographies. As such, industrial equipment manufacturers are being forced to find new market opportunities to grow. While industrial equipment companies face ongoing disruptions, most are unaware of how market opportunity analysis and consumer analysis can help tackle challenges and exploit new value propositions to capitalize on market opportunities.

At Infiniti Research, we have an in-house global team of research experts who clearly understand industrial equipment market segments and provide clients with custom market opportunity analysis and research solutions, market entry strategies, and M&A support to help them achieve business goals expand their market footprint. We aim to empower businesses to make crucial decisions and capitalize on new market opportunities to gain an edge.

Business Challenge

A leading industrial process heating systems manufacturer faced major challenges while developing a five-year roadmap aimed at expanding their market footprint and brand reach in NA. Being one of the largest heating systems manufacturers, the client’s business operations were spread across eight countries, including the US, Austria, Ireland, Luxembourg, Netherlands, Norway, Sweden, and Switzerland. They approached Infiniti Research seeking help to conduct market opportunity analysis to better understand the North American market for thermal fluid systems and process bath heaters.

Our success in the industrial equipment market can be traced back to our deep industry expertise and our ability to comprehend business needs. To learn how market opportunity analysis and research can help you succeed in this sector, request a free proposal right away!

Infiniti’s Approach to Market Opportunity Analysis

The client needed help understanding the market to be able to chalk out a detailed five-year roadmap. They also needed insights on strategic steps, investments, and the effort needed to sustain a competitive market position. Market opportunity analysis helped analyze the market and gauge the client’s strategic assumptions across product and service categories.

The research aided the development of global strategies to expand market reach. Over a period of three months, we analyzed the global market scenario and compiled the entire set of action points into a rationalized set of recommendations, including everything from acquisition to introducing new technology and new initiatives.

Got many business ideas and market opportunities for growth but unaware if they are worth pursuing? Fret not!  Request a free brochure to learn how we can help you narrow down your options and capitalize on the highest potential ones for success.

Market Opportunity Analysis and Research Process Flow

market opportunity analysis

For more information on Infiniti’s three-phased market opportunity analysis process, contact us.

Market Opportunity Analysis Process

Infiniti’s market research experts adopted a structured market opportunity analysis process to help the client address their issue and identify new market opportunities. The market analysis study began with the collection of qualitative and quantitative insights by subject-matter experts.

The three-phased research process involved holistic primary and secondary research followed by the analysis of research findings in the second phase. By working hand-in-hand with the client’s internal R&D team, we understood their needs and generated a market opportunity analysis report within a 10-week timeframe.

Outcome

Infiniti’s holistic approach to market opportunity analysis aided the delivery of a market-size matrix reflecting different equipment and heating systems covering five main categories and application areas. The project concluded with a business consumption ready report outlining key findings, particularly new market opportunities and customer needs, and market demand. The insights gained from the market opportunity analysis process also helped the client to-

  • Develop a comprehensive business plan
  • Expand market footprint
  • Target the right consumer groups
  • Improve new product development timeline
  • Achieve goals like profit margin improvements and market share

To gain an edge in today’s competitive business environment, industrial equipment companies must digitally reimagine the products and services they offer. They must innovate to drive value across crucial business functions and ensure higher returns on digital investments (RODI). However, based on our research, a mere 20% have been successful in redefining their services, earning higher than average ROIs. While the others earn an ROI lower than the industry average, irrespective of how much they scale their investments. This implies that simply scaling investments doesn’t guarantee success but requires a more holistic market opportunity analysis process to gain the much-needed market and customer insights.

We connect clients to subject-matter experts who can provide tailored solutions and real-world insights to make informed decisions. Request more information now.

Market Opportunity + Telemedicine Market

Identifying Market Opportunities and Adapting to Change in the Telemedicine Market

Telemedicine Market Overview

Technology and medicine are the most rapidly evolving fields globally, and with advancement, they bring about significant change. As the two fields grow, they become increasingly intertwined. Medical devices, diagnostic devices, cloud-based electronic health records (EHR), and digital consultation platforms are some of the examples of technology and healthcare working together. Since widespread digitization has become essential across industries, the healthcare industry has witnessed various market opportunities and expanded to include various digital platforms, leading to the development of telemedicine. Telemedicine services include offering consultations, guidance, support, information, reminders, and other medical services over online platforms, such as mobile applications or websites. Although these services have been offered for decades, recent advancements have created the need for market opportunity analysis and propelled substantial growth.

The inevitable incorporation of digitization in healthcare has propelled the industry forward and created a crucial niche market. Request a free proposal to learn how your business can capitalize on opportunities in the telemedicine market with Infiniti’s market opportunity analysis.

Market Opportunity Engagement Overview

As consumers become increasingly dependent on, and comfortable with, technology, mobile devices, and internet services, the market continues to grow. In a rapidly evolving and highly competitive market like the telemedicine market, understanding various dynamics, identifying profitable opportunities, ensuring market readiness for all offerings, and staying ahead of the curve is imperative. Therefore, telemedicine market leaders are leveraging market opportunity analysis solutions for clarity regarding barriers to entry, ideal distribution channels, competitors, and other market dynamics.

Business Challenges:

The client is a telemedicine services provider based out of Europe, that provides consultations, prescriptions, and advice for various non-emergency medical issues. The service provider sought to launch a new set of features to accommodate for the COVID-19 pandemic, including audio and video-based conferencing, and remote scheduling features for physicians. However, the company wanted a detailed report of competitors with similar strategies, consumers’ needs and demands, market readiness for these features, and significant profitable market opportunities to help their business grow. Therefore, the telemedicine market player sought to leverage Infiniti’s market opportunity analysis solutions and gain unparalleled clarity into the European telemedicine market.

Telemedicine services have become increasingly important during the COVID-19 pandemic, and ensuring your offerings meet consumers’ needs is crucial. Speak with our experts and learn how you can differentiate and improve your new offerings with market opportunity analysis.

Our Approach:

Market Opportunity + Telemedicine Market

Infiniti’s market opportunity experts developed a comprehensive market opportunity analysis engagement to help the telemedicine market player that included four phases. In the initial phase, Infiniti’s experts conducted a customer segmentation analysis to identify profitable segments of the market, identify and categorize customers as per their needs, preferences, spending behaviors, and demands.

During the second phase, Infiniti’s market opportunity analysis experts provided the client with in-depth insights into their competitors’ offerings, strengths, weaknesses, and upcoming initiatives with a competitive intelligence study. This step aimed to help the telemedicine services provider gain clarity regarding other offerings in the market and ensure differentiated offerings.

For the third phase, our experts conducted market opportunity identification study, and offered the client relevant data regarding upcoming trends, changing market dynamics, significant market developments, and recent technological advancements. With insights into these factors, the telemedicine market player identified upcoming profitable market opportunities, adapted their offerings, and developed comprehensive strategies to accommodate for upcoming changes.

Business Outcome of the Market Opportunity Analysis:

With the insights gained from Infiniti’s market opportunity analysis solution, the telemedicine market player gained insight into their consumers’ needs and demands, evaluated their competitors’ strategies, and developed strategies for profitable market opportunities. The customer segmentation analysis helped the client understand their consumers’ needs, identify target profitable customer segments, and adapt their services to meet crucial demands and previously unmet needs.

Additionally, with the relevant data regarding key competitors’ strategies, the telemedicine market player could keep abreast of their offerings. The client also identified competitors’ weaknesses, and strengths, and adapted their services and new features to differentiate their offerings. The competitive intelligence study also helped the client stay a step ahead of their competitors and industry leaders. Further, the market opportunity identification study helped the client understand upcoming changes in the market, evaluate them, and develop offerings or strategies to mitigate potential risks and capitalize on profitable market opportunities.

With insights from Infiniti’s market opportunity analysis the client successfully launched their new features, with various adaptations, and gained significant positive feedback from target consumer segments. Additionally, the telemedicine services provider continued to provide novel offerings to their consumers, stay a step ahead of their competitors, and capitalize on relevant market opportunities.

Ready to become a telemedicine market leader? Request more information to learn how Infiniti’s market opportunity analysis solutions can help your business grow.

Market Opportunity Assessment for the Specialty Chemicals Market

Specialty Chemicals Market: Why is a Market Opportunity Assessment the Best Way Forward?

The specialty chemicals market is highly complex and competitive. The most prominent segments of this market are specialty polymers, surfactants, flavors and fragrances, electronic chemicals, and industrial and institutional cleaners.

Specialty chemicals are in high demand and have a high growth rate due to the purpose they serve in industrialization, which is a widespread global phenomenon currently. As a crucial addition to the cleaning, disinfectant, and food industries, it is also seeing higher demand due to the current COVID-19 global pandemic.

As emerging markets are proliferating, the largest contributors to the specialty chemicals market are Germany, North America, Netherlands, China, and India. The highest consumers over the past few years have been China for antioxidants, construction, water management systems, and more; North America for agriculture, food, cosmetics, oil field chemicals, and more. Other countries with high consumption rates are India, Japan, and other developing countries and emerging markets due to rapid industrialization.

Emerging markets reflect a higher growth rate because they are calculated from a lower base and are growing rapidly in both demand and consumption. As of 2018, the highest consumption of specialty chemicals was found in the automobile, food, aerospace, agriculture, textile, and cosmetics industries, in no order.

However, as every market does, even the highly demanded specialty chemicals market is faced with various challenges, and key players are attempting to adapt efficiently. Currently, specialty chemicals market players need to identify the ideal opportunities to grow with the growing demand. In this article, industry experts from Infiniti Research discuss the major factors affecting the specialty chemicals market and the solution to identifying market opportunity.

Speak to Infiniti’s industry experts to gain more in-depth insights into the fast-growing specialty chemicals market.

Factors Affecting the Specialty Chemicals Market

The specialty chemicals market is highly influenced – positively and negatively – by various factors. Before employing a solution, it is crucial to gain a comprehensive understanding of the challenges and opportunities within the market. The following two factors majorly affect the specialty market.

High Demand:

With the constantly developing supply chain management systems, eCommerce purchasing, and strategic sourcing, transparency has increased. Therefore, higher consumer awareness has led to the exponential rise in demand for specialty chemicals across industries. Specialty chemicals have now become a commodity-like addition to every industry that it plays a role in. While this is beneficial for the market, the higher demand has led to a rise in R&D, raw material, and energy costs. To recover these high costs and improve their margins, specialty chemicals producers have raised the prices of their product.

Additionally, the demand for cleaning agents, sanitization, and hygiene has risen over recent months, due to the COVID-19 pandemic, making specialty chemicals a crucial commodity in the industrial and institutional cleaning industry. Apart from the increased demand for cleaning agents at an individual are family level, major spaces like hospitals, hotels, and community living spaces are in constant need of proper cleaning agents. Further, long-lasting food items with preservatives are in higher demand due to long durations of quarantine across the world.

Emerging markets and developing countries:

The increase in industrialization, trade liberalization and the growing demand for technological advancements in developing countries across the world largely contribute to the growth of the specialty chemicals market. The demand for electronics has grown vastly over recent years of change, and specialty chemicals play a crucial role in the development process of the same. Similarly, construction chemicals and fuel are in high demand across developing countries, which in turn increases the growth of the specialty chemicals market. However, a challenge posed by emerging markets and developing countries is the continually changing regulations regarding additives to food, and chemicals for other manufacturing industries. This could be detrimental to the global growth of the specialty chemicals market.

Understanding the market is the first step towards succeeding in it. Get more information on the factors affecting the specialty chemicals market to strategically prepare for the forecasted growth.

Preparing for Forecasted Growth

As the specialty chemicals market continues to grow at a substantial rate, market players need to prepare strategically. This requires understanding the upcoming market trends and changes and their risks and opportunities. While high demand and global market growth are positive news for specialty chemicals producers, strategically analyzing the challenges and ideal opportunities for growth and equipping their companies for the same is crucial. An unplanned approach leads to higher risks and may lead to losses in terms of opportunity and revenue.

Market Opportunity Assessment for the Specialty Chemicals Market

More importantly, for new entries, the market holds a range of challenges and potential barriers to market entry. Infiniti’s market opportunity assessment allows businesses to plan a comprehensive approach to all potential barriers and assess the market’s preparedness for new offerings. With the specialty chemicals market, as the industry continues to grow, some players are creating barriers for new market entries by focusing on service rather than products. With competitors focusing on building relationships and good customer service, the challenges of entering with new offerings and attempting to build new relationships are much more. Infiniti’s research experts offer the appropriate data, approach, and actionable strategies for businesses to successfully deliver their new offerings into a highly competitive and challenging market such as this.

Entering a new market is challenging, especially one that is growing as exponentially as the specialty chemicals market. Infiniti’s market opportunity assessment can offer you strategic insights on all opportunities and actionable solutions for all potential barriers when entering this market. Request a free proposal to learn more about the readiness of the specialty chemicals market for new offerings.

market assessment framework

Decoding the real importance of market intelligence services in 2019

Expansion is the sign of a healthy business. And with the aid of market intelligence services, business expansion is no longer a distant dream for emerging companies. 

Recruiting more staff, expanding into new markets, and building industry reputation are all exciting developments that come with growth. But in today’s competitive market space, growing businesses face a host of different challenges. As the company grows, business leaders start realizing that there is no “one size that fits all” approach – every new opportunity and problem will eventually start demanding different solutions. What worked a year back may not work this year and may not be the best approach. Identifying and mitigating challenges associated with market entry is essential if the business is to survive. Effective leadership will help business leaders make the most of existing opportunities but leveraging market intelligence services can unlock the doors to a lucrative new market segment.

With the rising pressure to sustain profitability and brand image in the market, companies have started facing the need to outpace their opponents when it comes to retaining and acquiring new customers. There’s nothing more depressing to the stakeholders than slow sales or high competition. Companies of today need to be on their toes and constantly think about ways to attract, serve, and retain their customers. Consumers change with every generation and companies need to be agile enough to serve the market as it stands in any given year. Whether you’re in the healthcare, automotive, manufacturing, or retail industry, market intelligence services are still essential for survival. With that being said, let’s take a look at what is market intelligence below and how it can take your business to the next level. (more…)

market opportunity

Step by Step Guide to Conducting an Effective Market Opportunity Analysis

Business growth strategies include the evaluation and assessment of new markets and products lines or suggesting new ways to reach existing markets and better meet the needs of customers. In today’s business environment, sustaining growth is a major challenge for companies.

Scientific and technological advances shorten the life cycle of products and services, changing business models and giving the scope to new competitors to enter the market. This constant instability makes it important for every market player to seek new business opportunities. But the question that arises here is how to do market opportunity analysis in such conditions?

The first thing you need to do is, define a framework to help search for opportunities. To do this, it is important to understand the business direction of your company and to have knowledge of the strengths, resources, and capabilities of your company. Once you develop a comprehensive understanding of your company goals and areas of expertise, the next step involves analyzing the market and assessing the needs of your customers and how they are being met by companies.

Contact our research experts to learn more about the business benefits of market opportunity analysis.

For an effective market opportunity analysis, it is necessary to evaluate the business model as a whole by identifying customers and companies and other factors such as direct and indirect competitors, brand value propositions, existing regulations, supply chains, and the general business environment. In this article, we have examined how to analyze these factors in detail.

Market Opportunity

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Fast food industry analysis

5 Reasons Why Your Business Needs Market Opportunity Analysis

Today, in this competitive business environment, constant growth and profitability are never a guarantee. With advancements in technology, life cycles of products and services keep shortening. Additionally, business models keep changing and new competitors enter from various industries. This persistent instability makes it very crucial for businesses to seek new market opportunities to grow and stay ahead of the competition. It is in this context that the real importance of market opportunity analysis comes into the picture. It helps businesses to examine various factors like direct and indirect competitors, brand value propositions, existing regulations, supply chains, and the general business environment. Ask An Analyst_IRAll these factors help frame winning business strategies and allow your business to flourish positively amidst the competitive environment.

With the help of the market analysts at Infiniti, we have highlighted a few reasons why market opportunity analysis is important for any business. But before delving into those factors, let’s understand a bit about market opportunity analysis in simple terms.

What is a Market Opportunity Analysis?

Market opportunity analysis is a tool to determine and access the desirability of a business opportunity. It forms a portion of the business strategy; wherein, before launching a new product or service, the market is analyzed to identify the anticipated revenues and profits from it. Forecasted demand is one of the most important factors that should be considered and analyzed during opportunity analysis. There are a few important questions that can be answered through this analysis. Therefore, these questions must be considered by businesses that perform market opportunity analysis:

  • What are the most profitable segments of the market?Request Proposal
  • What is the rate at which the opportunity is growing?
  • What do competitor and gap analysis mean?
  • What are the major sustainable differentiation points?

Why Market Opportunity Analysis is Important?

#1. Market opportunity analysis helps identify the needs of the customers and accordingly plan, design, and deliver the products or services to derive customer satisfaction.

#2. It helps the company to stay ahead of the competition due to the introduction of customer-oriented products.

#3. It also allows the firm to make optimum use of resources.

#4. It helps the business to accomplish goals like profit margin improvements and market share etc.

#5. It also enables an organization to extend and spread its business in new as well as existing markets.


To know more about how market opportunity analysis can aid in business growth 

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