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.
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 prioritise 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 scrutinise 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.