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Pharma and medical market research

The Ukrainian pharma market is rapidly developing. According to expert forecasts, this intensive growth will continue in the future. At the same time, the pharma market has certain peculiarities. This market is poorly regulated due to weak legislative ground. Operator roles are often interchanged, the market is dominated by generic products, with quite severe competition between producers. In this emergent market relevant information becomes vital.

Analytical support at each stage of product life cycle

GfK Ukraine has a number of unique techniques which can be combined to suit particular business tasks at any stage of the product life cycle. Our experience enables us to carry out research in any segment of the pharma and medical market, with varying target audiences: doctors, providers, pharmacists, distributors, and consumers.

Market description and evaluation of market opportunities

Understanding of the market, proper segmentation, research of target audience needs, and successful positioning are key grounds for growth and development of the producer. At the stage of product launch, we will provide you with analytical support mitigating the risk of ineffective solutions and wasted money.

Product concept development and its testing

For many pharma companies a key part of their development strategy consists of introducing new products or modifying existing ones, as well as altering product positioning strategies. Each of these cases calls for specific concepts of product promotion in terms of its target audience (doctors, pharmacists, and final consumers) and perfect estimation of the new remedy’s market potential. The right approach to market research minimizes risks of product launch failure. GfK methods can be used both, for generating ideas of concept development and evaluating the market share that could be earned through active promotion.

Price studies

Price research for the medical market slightly differs from price research for the consumer goods market. This especially concerns prescription medicines. In this case the patient, as a final consumer, does not make his own decision in regard to purchasing medicine. At the same time, doctor’s recommendations are not critical for the consumer. That is why we developed an analytical model envisaging the purchase of prescription medicine as a function of three factors: doctor’s prescription, pharmacist advice, and the price. This model estimates how the price and recommendations made by medical employees influences purchasing decisions for different types of medicine, taking into other important factors which might affect these consumer’s decision.

Evaluation of company’s performance

Analyzing the efficiency of product promotion is an important task for the company, especially at the stages of product development and maturing. A team of medical representatives is a very costly element of the marketing complex. To minimize marketing research costs, such tools as message recall tests are used for evaluating activity and effectiveness of medical representatives, and are the most popular techniques among pharma companies. It is equally important that companies with large share of OTC medicine carry out advertisement effectiveness research and testing of different ad tools in the pre-advertisement period.

In order to research the described issues and other features of the medical market, we apply a wide range of quantitative and qualitative methods, combining them in order to suit each particular case.