Our client is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. With the increasing prevalence of non-communicable diseases & collapsing healthcare systems globally, the client is looking to introduce a product in the market which can aid in mitigating the crisis. Therefore, the client is now seeking opportunities to introduce their self-injections in the Chinese & Indian markets.
The client mandated Cedar’s assistance in assessing the Indian & Chinese markets to examine the overall viability of introducing their self-injection products in these high-growth markets.
- Cedar synthesized a Price vs Quality graph in order to ascertain the optimal price and quality relationships of the products specific to the Indian and Chinese markets.
- An internal assessment was carried out in order to understand the existing brand positioning, product utility, operations, value chain, etc.
- A SWOT analysis based on the geographies where the product has been launched was conducted.
- A region-specific external assessment consisting of the number of diabetes, hepatitis, RA, and thrombosis disorders was conducted to pinpoint the market size.
- The conversion rate for Indian & Chinese patients in each of these disorders was ascertained in order to further form a plan of action for market penetration.
Post market assessment, following were the recommendations made to the client:
- It was decided that the Self-Injections would be launched as premium high-quality products, with costs slightly higher than the average market levels for these geographies.
- Various tailored strategies were recommended to the client with a distinctive approach for both geographies.
- Recommendations were made for introducing self-injections for each of the disorders listed, based on the internal & external assessments.
- Cedar helped the client formulate an effective market positioning & market penetration strategy for its successful product entry in the Indian & Chinese markets.