Pharmaceutical and Bio-pharmaceutical companies must have adequate market assessment to support growth of their existing portfolio. A detailed analysis of potential markets and therapy area can help to decide realistic projections for new products.
Market assessment addresses the needs of the increasing number of stakeholders who influence patients’ access to medicine. An effective and right assessment can help in making right strategies that begins at the product’s launch phase and adds value throughout the product life cycle.
• Which is the best market for our product penetration ?
• Which factors drive product market performance ?
• What is the treatment algorithm of my therapeutic products ?
• What are the treatment options available in the market ?
• How is the market evolving and on what basis ?
• How can we best align our assets, capabilities with the new market scenario and new stakeholders ?
• What impacts my products? Is it switches, source of business, patient share, persistence, or compliance ?
MRA Group with the help of domain knowledge and skilled resources views existing dynamics of market to bring actionable insights for decision making by covering various parameters to access the market.
How We Help ?
• Performance management and key performance indicators (KPIs) framework
• Evaluate market performance, potential and market share of key products
• Understand factors that drive sales
• Analyze patient profiles
• Analysis of leakage of patient in each decision making stages
• Competitor analysis
• Effective product, channels and sales strategy of various players.
• Market Estimation Analysis: Market Estimation encompasses evolution of the market for a product including the analysis of the market trends, assessing the competition and conducting market studies. We evaluate the competitive environment and where a particular product/brand stands in.
• Prescription Analysis: Prescription data analysis help in better understand of the prescribing behavior of the physician in relation to the severity of disease in any particular therapeutic area. Prescription Cost Analysis (PCA) provides analysis on the number of items and the net ingredient cost of all prescriptions dispensed in an assigned geography.
• Market Promotional Analysis: Evaluation of multiple channels of product/brand promotion based on their influencing and convincing capabilities. Our approach involves in-depth analysis of every channel of promotion and the revenue generated out of it.
• Key Performance Indicator (KPI) Analysis: Several Performance Indicators reveal the brand, market and therapeutic level insights. Our unique methodology to decide KPI involves deep-dive understanding of the industry and the relevant growth parameters which keep our clients updated about the changes happening in the market.
• Enable to make effective product, channels and sales strategy
• Business implications of competitive trends, regulatory changes, and health care reform
• Improve investment decisions to support better early lifecycle portfolio decisions
• Enable to identify untapped market
• To enable client to understand market and patient unmet needs