Our client, a UK-based medical device manufacturing company, wanted to grow its revenues. For this purpose, our team offered actionable insights into the interconnections between client’s clients and their clients. Our team defined and solved a series of problems for the client to tap into new revenue opportunities and secure existing ones. One key problem solved during the engagement was:
We started by providing detailed intelligence into the interconnected ecosystem for identifying latent opportunities. Further, our analysts expanded the understanding of the geographic opportunities that have unmet needs and the highest market potential.
Revenue Shifts Identified
Recent years have seen considerable developments in the delivery of injectable medications. Modern patients, demanding drug therapies that are both effective and convenient to take are increasingly eschewing hospitals and infusion centers in favor of medications that can be self-administered at home. Consequently, the medical device and pharmaceutical industries have invested significant efforts to address these challenges and demands, paving the way for major advances in the wearable drug-delivery industry. The growth of this industry is offering new opportunities with patient-centric solutions that allow for easy self-administration, which will continue to develop in the coming years.
This increased competition is expected to result in drug manufacturers placing greater emphasis on ‘around the molecule’ offerings, namely through devices and data. While the blockbuster drug itself will remain unchanged, pharmaceutical companies will use lifecycle management strategies for market differentiation with patient-friendly devices, in addition to perhaps a smartphone application for the patient or a desktop version for healthcare providers. Thus, 2020 and later years will be a year of growth, competition, and improved access to key therapies.
While 2019 saw significantly more oral medications enter the market in comparison with injectable drugs, an examination of the development pipelines for pharmaceutical and biopharmaceutical companies reveals increasing numbers in favor of injections. This trend is expected to continue into 2020 and later years. Of injectable medications, biologics specifically are playing an increasingly central role in modern medicine, offering treatments for a range of serious and chronic illnesses.
Revenue Impact (RI)
Our client services team helped the client to devise go-to-market strategies as well as identified customers for potential opportunities in the ~USD 1 billion market during the next five years. Our insights are poised to offer an incremental revenue impact of over USD 10 million during the next one year.
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