Analyzing Trends in Pharmaceutical Industry
Rising healthcare costs and economic uncertainties have put US pharmaceutical companies in a state of turmoil. However, on the brighter side, with biosimilars gaining popularity and new drug pricing and reimbursement approaches, pharmaceutical companies will witness rapid transformations over the coming year. Hence, pharma companies are under the pressure to stay abreast with the latest market innovations and trends in pharmaceutical industry. This is where companies realize the need to leverage market trend analysis solution.
The client is a Canadian pharmaceutical company. The client was looking to expand their operations to the United States. With rapid transformations happening in the US pharma market, the client wanted to identify the trends in pharmaceutical industry and keep pace with the market innovations. The client, therefore, partnered with Infiniti Research to leverage their expertise in offering market trend analysis solution.
Furthermore, the client wanted to:
Analyze the market potential
By analyzing the trends in pharmaceutical industry and understanding the market innovations, the client wanted to understand the market potential for their product and services in the United States.
Understand technological trends in pharmaceutical industry
With the industry-wide proliferation of cloud technologies and artificial applications (AI) driving pharmaceutical industry growth, the client wanted to analyze all the technological trends in pharmaceutical industry in the United States.
Understand rising demand for biosimilars
With biosimilars gaining popularity in the US pharmaceutical market and providing cost savings for payers and patients, the client wanted to analyze how biosimilars are changing the US pharma market.
Analyze rising drug pricing
With the US government tightening up conditions for drug pricing and related instruments such as rebates and discounts, the client wanted to analyze the trends in pharmaceutical industry related to drug pricing.
As a part of the trend analysis engagement, the experts at Infiniti Research conducted a thorough US pharmaceutical industry analysis and market sizing analysis. This phase of the trend analysis engagement helped the client to understand the recent market developments and estimate the market potential for their products and services. Also, the client was able to identify the market size of pharmaceutical industry in the US.
The experts also leveraged product research engagement to help the client analyze the complete product development lifecycle, trade-offs, and gain insights on product-specific revenues to boost the value proposition. Furthermore, the experts analyzed technological trends in pharmaceutical industry and monitored how the client’s major competitors employed the latest technological trends in their business processes.
Furthermore, by leveraging Infiniti’s expertise in conducting industry trend analysis engagement, the experts helped the client to understand how biosimilars are transforming the US pharma industry and analyzed how top US pharma companies are spending on biosimilars.
By leveraging Infiniti’s expertise in offering market opportunity analysis, the experts also helped the client to review potential barriers to market entry and assess markets’ readiness for their product and service offerings.
With Infiniti’s market trend analysis engagement, the client was able to efficiently analyze the trends in pharmaceutical industry and stay abreast with market innovations. Also, tracking emerging trends in pharmaceutical industry and assessing the regional market developments helped the client to devise a market entry plan to enter the US pharma market. Furthermore, within two years of entering the new market, the client was able to achieve a leading edge in the US pharma market and become one among the top 20 pharma companies in the United States.