Market Strategy

In cooperation with selected patent attorneys Novumed will analyze the availability of competing technologies and will help to understand the market environment. In many cases competing technologies may only be identified with a closer look at the patent landscape as some patents are hidden from the market by large corporations. Some companies may be willing to acquire competing technologies, whereas other companies own a variety of patents without considering their true commercial value. Novumed supports its clients in analyzing and optimizing their portfolio of patents.

When identifying new markets or when calculating the value of a project or of a company, the evaluation of the technology's unique selling proposition (USP) is considered as crucial. The description and evaluation of the USP is often the starting point for market or portfolio considerations. In addition to selected patent attorneys, Novumed uses a wide network or experts in order to get an additional market opinion.

Approaching relevant stakeholders (MDs, hospitals, health insurances or patients) in order to sell a health care product appears to be an  increasingly difficult exercise. For sales reps it has become more difficult to get the attention of MDs and others. It becomes, therefore, crucial to understand the market and use the ideal marketing and sales mix. Whereas, in some cases, the ideal solution may be to work with a partner, other markets may require using a sales force targeted towards health insurances or  relying on a distributor. When using your own sales force, Novumed helps you to identify the ideal market? size and conducts epidemiological studies for a deeper understanding of the markets' needs.
Novumed supports you to identify and evaluate the adequate sales and marketing approach

The USA is the world's largest market for pharmaceuticals and medtech, representing as much as 50% of world-wide sales in some areas. Through our offices in San Francisco and Munich, Novumed is working for US and European clients and is on top of latest trends in these two crucial markets. Leveraging our presence in the US market, we support you in developing the right strategy, we conduct interviews in the USA and help you understand specific market requirements - before you invest your money.

With an office in Munich, Novumed is also located in the heart of Europe, the largest economy with more than 80M consumers. Our consultants have worked and lived in various countries and are fluent in several languages; thus, they can help our non-European customers understand the specific requirements of European markets.

Additionally, our customers are becoming increasingly interested in the Indian market. The  immense population,common use of English language and approval processes similar to the ones known in Europe and the USA make this market extremely attractive. India, today, is the country with the most pharmaceutical production sites applying GMP standards outside Europe or the USA. Working closely with our Indian sister company, we analyze customer needs and potential of this attractive market for you. We have already conducted interviews in Indian cities and helped identify alternative distribution channels for some of the world?s largest pharmaceutical companies.

In the 1990s, investors were eager to invest in internet and biotech companies. Was this a short-lived trend or the emergence of some completely new industries? Private equity and strategic investors, especially, need to gain an overview of new developments and industries before they start their search for new targets. In addition to market strategy and technology evaluation, Novumed can help you assess the value and the sustainability of newly developing niche markets.

Recurring topics in our work are the analysis and assessment of markets and technologies. Novumed supports you in picking and understanding attractive markets via a toolbox of various methods and sources. These include qualitative interviews with academia and industry experts, screening of press articles and analyst reports as well as video monitoring. Applying a wide range of different tools, we want to help you "look beyond the obvious".

In this quest, we can rely on our excellent network in pharma, biotech and medtech. As we do not disclose our customers' names during interviews and analyses, we can provide you with unbiased data difficult to obtain otherwise. Experience shows that as a "side product" our analyses might even open new specific business opportunities for our customers: Some of them have contacted the surveyed companies after the project and were thus able to build the BASIS FOR COMMON BUSINESS DISCUSSIONS.

Especially in the pharmaceutical industry, KOLs are crucial for a new drug's success. They influence not only physicians with their judgment, but also associations and payers. Novumed's analysts identify KOLs and monitor them over a period of time through collection and analysis of their publications, presentations and other information.

Key Opinion Leader (KOL) / Scientific Leader (SL) / Social Network Analysis (SNA)

Novumed recognizes the importance of leveraging external medical experts to ensure success along the entire  product lifecycle. We help you understand who?s who of scientific leaders, clinical investigators at any point from discovery to post product launch.

We not only help you identify but profile and categorize medical experts, as well as  provide the applications to search, filter and illustrate KOL information and individual intercorrelation.

Epidemiological studies are necessary to assess prevalence, incidence, distribution and causes of diseases. They can help to gain a better overall understanding of certain diseases and to build planning scenarios based on detailed patient flows.

Novumed?s experience in several epidemiological studies in more than 30 indications is an asset that we are happy to share with our clients.

Market estimates of international data agencies are commonly used in strategic planning and in business plan preparation. However, not only are these estimates expensive, they are often also based on questionable assumptions and only available in paper or PDF format.
Novumed can help you to build a detailed state-of-the art forecast model and make it available to you "online". Changes in the market environment and new insights can at every point of time be included in the model, allowing you to keep your market forecast up-to-date. Together with our sister firm in India, Novumed can offer you a unique expertise in planning and implementation of these models.