How we helped characterize the injectable electrolyte and sterile water market landscape

The challenge

In the absence of any reliable secondary data, our client wished to understand the overall size of the injectable electrolyte and sterile water market, plus reveal its market share and key competitors within each individual molecule. Research was required to calculate the overall size of this market within acute care and homecare, in addition to identifying the incidence of each of the 114 stock keeping units (SKUs) within this diverse space

The solution

We conducted 279 online surveys with Senior Pharmacists (Pharmacy Directors/Supervisors) across acute care and homecare pharmacies, with respondents required to provide the following information:

• Volume of each SKU purchased in past 3 months
• Number of units per box
• Price per box

To ensure accuracy of the data provided, respondents were asked to record the aforementioned information on a downloadable worksheet, which was then subsequently used to complete the survey. Pharmacists are known for their accuracy, so this methodology was very compelling to them vs. “estimating”.

The outcomes

Our client was impressed with the methodology/approach that we adopted, as the data produced similar results to other data sources that had become available during the project. However, the results we provided also contained additional levels of detail. From our research, we were able to provide our client with recommendations on how to prioritize the molecules with the largest market potential, plus could provide recommendations on potential product line extensions to better compete in some particular markets. Furthermore, our research gave clear indications on how our client should focus their marketing activities/efforts. In addition to the report, we also developed an interactive dashboard/simulator, which could be used to either scrutinize market share data or explore SKU/product level information in more detail. The simulator also allowed our client to filter the results and delve into any particular areas of interest.