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“Pharmaceutical companies are under the need to revamp the way they develop and market drugs. As such, leveraging pharmaceutical market access strategy is becoming imperative for pharma companies,” says an industry expert at Infiniti Research.
The pharmaceutical industry has recently become a priority for governments globally. Infiniti’s industry-specific research experts help guide companies through the various challenges posed by this recent development. Request a free proposal and work with Infiniti Research.
Engagement Overview:
Our client is a pharmaceutical company based out of Germany, aiming to expand to the United States. However, access to the US Pharma Industry poses a range of challenges, including rising costs and the proliferation of competing drugs. Additionally, growth of the generic segment and the advent of biosimilar drugs caused further challenges for the client. Having previously failed an attempt to access the US Pharma market, the client approached Infiniti Research in the early stages of their drug development. Infiniti’s experts utilized their expertise in pharmaceutical market access strategy to address and multiple other objectives stated by the client.
Our Approach:
Within the pharmaceutical market access strategy, the experts made use of various approaches and engagements to address the above-mentioned objectives.
The following engagements were leveraged within Infiniti’s pharmaceutical market access strategy:
- Product Research Engagement was conducted so the experts could help the client analyze the complete product development lifecycle, trade-offs and more, to boost value propositions.
- Marketing Strategy Engagement which included qualitative and quantitative market research, to help the client gather comprehensive insights into the market landscape and competitive landscape. As well as devise sound commercialization strategies.
- Price Analysis Engagement was used to analyze the payer’s opinions in the US pharma market, and top pharma companies’ pricing strategies. This helped the client set the ideal price for their product based on demand and sound research.
Pharmaceutical market access strategy was the optimal solution for this client. To learn about more Infiniti’s expert solutions, request a brochure here.
Business Impact:
Infiniti’s pharmaceutical market access strategy assisted the client in developing a new drug that meets the market demand, and payer’s requirement. This also helped the client clear clinical trials in the initial attempt. The pharmaceutical market access strategy helped devise sound commercialization strategy for their new drug and set the right price. Within one year, the client was able to meet their revenue goal and enhance market share by 33%.
The pharmaceutical industry is looking at a bright future ahead, but companies will face various challenges as they attempt to succeed in this highly competitive market. To learn how Infiniti Research can help you stay prepared, efficient, and maintain a competitive edge at all times, 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
