Case Study | 11 October 2024
How a Pharma Company Got an Idea of the Region with Lots of Lucrative Opportunities for Sales?
Posted by : Ipseeta Dash
The market player has a history of successful business in the field of pharmaceuticals. They have developed a vaccine for seasonal influenza and want to analyze the region rendering the most lucrative opportunities. The company executives reached out to Research Nester to help in finding out the solution for their growth.
An overview:
- A leading pharmaceuticals company from the United States, which have a history of successful business, backed by experience in handling various setbacks.
- The organization is striving to raise its market share by a further 6.1% by the end of the year 2023 and reach the highest position in the domain.
- Research Nester offered regional analysis as a business tool to get the idea of the region having the most lucrative opportunities for sales
The Story
Research Nester analysts observed that all over the world, seasonal influenza is anticipated to result in about 3 to 5 million cases of severe illness. Also, about 290,000 to 650,000 respiratory deaths occur each year due to symptoms of seasonal influenza. Although, all age groups can be affected but there are a few who are at greater risk. The pharmaceuticals companies are making influenza vaccines but salespersons are dubious about the region with maximum opportunities.
Our Solution:
Research Nester used its regional and demographic product analysis for getting an idea of the region where there are maximum opportunities. Exhaustive research has been done for finding out the parameters such as:
1- An exhaustive study has been done across the regions and found that:
- United States- 740,472
- Canada- 154,088
- China- 302,127
- Norway- 71,727
2- The health budget of various regions was found to be:
- United States- USD 4.3 trillion
- Canada- USD 198.3 billion
- China- USD 7.7 trillion
- Norway- USD 357.4 billion
More data has been collected on a few more parameters and it was concluded that the US is offering the most lucrative opportunities for the seasonal influenza vaccine market.
Results
With the use of the regional and demogarphicanalysis, Research Nester could incorporate the areas where the sale of seasonal influenza vaccine can get a thrust. This helped the company to fabricate an efficacious strategy and it was able to exceed the sale target. The company also raised its market share to 31.22% during CY2023 from its pre-recorded share of 29.11% in CY2022, a rise of about 2.11% between these years. Moreover, the company also managed to get a high ranking on various platforms for doing incredible work.
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