Medical Market Research and Country Analysis
Before entering a new (geographic) market, especially one unfamiliar to you, it is vital to know the sales potential for your product and create a market entry strategy. Unfortunately, many companies skip this step in their rush to introduce a new product.
A well executed market scan can yield valuable information on competing products already in the market, competitor pricing, market opportunities, sales channel strategy, reimbursement levels and more. When we perform country analyses, we gather high quality information by interviewing local end users, distributors, and industry or product specialists in addition to desk research.
On average it takes four to six weeks to complete a detailed country analysis. Note that this services is optional and not necessary if you have a good understanding of the potential for your product(s) in a given market and can provide us with a clear distributor profile.
Our country analyses services are performed for a fixed fee that varies depending on the size of the national market or region, and the scope of the total project.
The following issues may need to be researched:
- Geographical markets that should be entered first.
- Competing products on the market.
- Regulatory compliance requirements.
- Reimbursement assessment (Europe and Japan only)
- Ideal medical distributor profile.
- Optimal service and logistics structure (Europe only)
This results in a distribution strategy for your products and a substantial initial list of potential medical distributors that match the distributor profile.
