Market potential study (Pharma)
The client, one of the leading pharmaceutical MNC, is planning to launch medicinal patch in India for palliative pain management for cancer patients. The molecule under study falls in restricted category of drugs & hence its procurement, manufacturing, sales and marketing is quite tedious.
The client wanted to understand the scope of medicinal patch in palliative pain management for cancer patients. Also how it is currently being used. The study was conducted to estimate potential market size, current competitors, distribution channel and potential users.
They also wanted to capture regulatory landscape of the medicinal patch market.
Face to face interviews were conducted with target respondents using structured questionnaires. Target respondents were Oncologists, Hospital purchase managers, Palliative care centers, stockiest and distributors.
From the insights of the study, we were able to identify type of medicine preferred for treatment of cancer, general practice observed in government as well as private hospitals. In addition to it, competitor brands used for cancer pain management were also identified.
Current market share of medicinal patch among other prescribed medicine for cancer treatment was derived. Also the inhibitors and motivators for the medicinal patch in India were found out.