Market Assessment

Medical Device 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 need of the increasing number of stakeholders who influence patients’ access to medical devices. An effective and right assessment can help in making right strategies that begins at the device launch phase.

Key Questions:

•  Which is the best market for product penetration?
•  Which factors drive product market performance?
•  How is the market evolving and on what basis?
•  How can company best align their assets, capabilities with the new market scenario and new stakeholders?
•  What parameter impacts 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 assess 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

Analysis Involved:

•  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 where a particular product/brand stands in
•  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 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

Business Impact:

•  Enable client to make effective product, channels and sales strategy
•  Business implications of competitive trends, regulatory changes, and health care reform
•  Enable to identify untapped market
•  Enable client to understand market and patient unmet needs

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