Pharmaceutical
Industry
India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK. With 70 per cent of India’s population residing in rural areas, pharma companies have immense opportunities to tap this market.
Medicine spending in India is projected to grow 9-12 per cent over the next five years, leading India to become one of the top 10 countries in terms of medicine spending. Going forward, better growth in domestic sales would also depend on the ability of companies to align their product portfolio towards chronic therapies for diseases such as cardiovascular, anti-diabetes, anti-depressants and anti-cancers that are on the rise.
In the Indian Pharma market, Market Search had the opportunity of servicing some of the leading companies like Bristol Myers Squibb, Zydus Cadila, Novartis, Sandoz, Johnson & Johnson, Pfizer, Wyeth etc. We specialised in the product categories of Prescription, OTC, Ayurvedic & Diagnostic/ Medical devices.
Key elements of a market entry research study
At Market Search, we specialise in the field of pharmaceutical industry and one of the leading healthcare market research companies of advanced analytics, technology solutions, and contract research services.
We assist companies gather and analyze information about the market, competitors, and customers. This information can be used to make informed decisions about product development, marketing strategies, pricing, and distribution.
Our Key Role
Market sizing and forecasting: We can help pharmaceutical companies understand the size and growth potential of different markets, as well as forecast future demand for products.
Competitor analysis: We help pharmaceutical companies identify their key competitors, analyze their strengths and weaknesses, and develop strategies to compete effectively in the marketplace.
Customer insights: Our skilled teams of researchers conduct surveys, focus groups, and other research activities to gather insights into the needs, preferences, and behaviors of customers.
Product development: Our consultants can help pharmaceutical companies understand the unmet needs of customers and identify new product opportunities.
Pricing and reimbursement: We help pharmaceutical companies develop pricing strategies that are aligned with customer needs and competitive pressures, as well as navigate the complex world of reimbursement and market access.
Overall, Being a well-known healthcare market research company, Market Search, can provide valuable insights and analysis to help pharmaceutical companies make better decisions and stay competitive in a rapidly-changing marketplace.
Why Choose Us As For Market Research
1. Expertise: We have expertise & experience in the pharmaceutical industry and will have deep knowledge of the market, customers, and competitors. We can provide insights outside of internal sources or general market research firms.
2. Data collection and analysis:We can help collect and analyze large amounts of data from various sources, including surveys, interviews, and secondary research. We can then use this data to develop actionable insights and recommendations.
3. Objectivity: We can objectively view the market, customers, and competitors. This is valuable in situations where internal biases or preconceptions cloud judgment.
4. Customized solutions:We tailor our services to meet the specific needs of our clients. This can include designing research studies, analyzing data, and providing customised recommendations to the client’s specific business challenges.
5. Competitive Advantage: By partnering with us, pharmaceutical companies can gain a competitive advantage by leveraging the latest market intelligence and insights to inform their decision-making.
FREQUENTLY ASKED QUESTIONS
Which are the leading healthcare market research companies in India?
Market Search India is one of the finest healthcare companies in India. We have exceptional experience in providing the best research services and solutions to our clients. Our attention to detail and data-driven approach make us the best for market research.
How to do market research for healthcare?
Market research for healthcare starts with knowing the objective of the client, understanding the healthcare sector, and making a definite plan of action. The market research companies’ plans depend to a very large extent on the area of study and the research model.
What is the role of market research in healthcare?
As per the major Market Research companies, market research in healthcare can drive their business strategy. It can help the companies understand the scope and challenges prevailing in the sector. However, information on the latest market trends in healthcare can help one make strategic decisions.