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The client is a pharma company based out of the United States. As Canada is known to be one of the most profitable markets for pharmaceutical companies, the client wanted to expand their business operations to Canada. Before investing a huge sum into their expansion plan, they wanted to determine their growth potential and assess market opportunities in the Canadian pharmaceutical industry. They approached the experts at Infiniti Research to leverage their expertise in offering market intelligence engagement.
Other key objectives of the client were:
Objective 1: Understand in-detail the procedure for new drug launch in Canada
Objective 2: Identify strategies to cut down on their production costs and gain a competitive edge
Objective 3: Identify the profitable customers to focus on to drive sales
During the COVID-19 crisis, it is critical for companies in the pharmaceutical market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
As a part of the market intelligence engagement, the experts at Infiniti Research conducted a market scanning and monitoring analysis. In this phase of the engagement, the experts helped the client to understand the regulatory changes in the Canadian pharmaceutical industry. This also involved evaluating the market potential for the client’s offerings in Canada and identifying the capital requirement for setting up new production and distribution units. The next phase of the approach involved a customer segmentation analysis to segregate customers into distinct target segments and identify profitable customer groups.
Business impact of the market intelligence solution for the pharma market client:
By partnering with Infiniti Research, the client was able to devise a sound market entry plan and realize profits of over 29%.
By leveraging Infiniti’s market intelligence solution, the pharmaceutical market client was also able to:
- Succeed clinical trials in their initial attempt
- Automate their operations and reduce production costs
- Reduce the costs of their drugs and better compete with generic drug manufacturers
- Personalize their marketing and sales efforts for them and generate maximum sales
For an in-depth market analysis on how COVID-19 will impact the pharmaceutical market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us