A pharmaceutical major was eager to understand the prevailing market dynamics in the cardiovascular segment to create an informed expansion strategy for Philippines and Indonesia. Its final aim was to build on its strengths in the cardiovascular therapeutics niche and explore new market opportunities within the segment. However, they needed a research partner to provide them with effective market assessment and penetration analysis to guide their way forward.
Objective
Our client, a pharmaceutical major, wanted to evaluate the market potential of varied cardiovascular segments in Philippines and Indonesia. With the goal to broaden its market share, it was eager to undertake an intensive market assessment study in cardiovascular therapeutic areas, especially in product lines that it had yet to venture. However, planning to leverage its current strengths in cardiovascular therapy, it wanted to bolster its niche rather than venture into new therapy areas such as anti-infective, cold and cough, etc.
Solution
In order to provide the client with a detailed market analysis and recommendations backed by tangible insights, Netscribes undertook a blend of desk and primary research that helped distil strategic considerations.
The team conducted an extensive market assessment employing secondary research to understand the cardiovascular market in Philippines and Indonesia. This activity offered a solid base to craft an intelligent questionnaire which was approved by the client.
Next, we identified the key influencers and stakeholders across major segments viz. key competitors, key opinion leaders (Philippine Heart Association, Philippine Society of Vascular Medicine, Indonesian Heart Association, and The Indonesian Society of Interventional Cardiology). We engaged with them through in-depth interviews to understand the current market scenario and procure highly-analyzable data to emerge with sound recommendations.
Read more: Conducting a Market Expansion Study for Business Growth
Results Delivered
After running the data through a host of analytical parameters, Netscribes provide the client
with:
- Insights based on in-depth analysis on the existing market dynamics
- Recommendations for a strategic approach to boost the market share of their products in Philippines and Indonesia
Read more: Market testing a medical device prototype
Benefit
Our analysis fortified the client with a comprehensive understanding of the cardiovascular market landscape. We also helped the client in refining its strategy on market penetration and developing a road map for success in the cardiovascular market in Philippines and Indonesia.
