market strategy
IP Analysis
In cooperation with selected patent attorneys Novumed will analyse the availability of competing technologies and helps to understand the market environment. In many cases competing technolgies 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 variaty of patents without considering their true commercial value. Novumed supports its customers to analyse and optimize their portfolio of patents.
USP Analysis
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 of experts in order to get an additional market opinion.
Sales Force Sizing
Approaching relevant stakeholder (MDs, hospitals, health insurances or patients) in order to sell a health care product appears to be a more and more difficult exercise. For sales reps it is more and more difficult to get the attention of MDs and others. It becomes therefore crucial to understand the market and to 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 to use a sales force targeted towards health insurances or to use a distributor. When using your own sales force, Novumed helps you to identify the ideal size and conducts epidemiological studies for a deep understanding of the markets' needs.
Novumed supports you to identify and evaluate the adequate sales and marketing alternative.
Sales Controlling
How efficient is your sales? What is the realistic market potential? How successful are your sales reps or those of your distributor? How does your product perform on the market? Novumed uses several methodologies and sources to help you with the answers. In cooperation with a partner based in Bangalore (India) we are capable to structure and analyze complex data. You may only control and manage your sales team if you have a certain transparency in order to reach your sales goals on time.
Strategy for USA/Europe, & India
The USA is the world’s largest market for pharmaceuticals and med-tech, representing as much as 50% of world-wide sales in some areas. Novumed can build on a strong relationship with strategy consulting firm in Boston. Comparable to Novumed, our partner’s superb consultants have backgrounds in medicine, in biochemistry or in business administration. Leveraging our cooperation with this partner, we support you in selecting the right distributor, we conduct interviews in the USA and help you understand specific market requirements - before you invest your money.
Novumed is located in the heart of Europe, in the south of Europe’s 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.
Recently, our customers have become more and more interested in the Indian market. An immense population, the 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 partner, we analyze customer needs and potential of this attractive market for you. In projects for some of the world’s largest pharmaceutical companies, we have already conducted interviews in Indian cities and helped identify alternative distribution channels.
Identification of niche markets
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? Especially private equity and strategic investors need to gain an overview over 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.
Market assessment
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, in biotech and in 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.
KOL: Analysis of key opinion leaders
Especially in the pharmaceutical industry, KOLs are crucial for a new drug’s success. They influence not only physicians with their judgement, 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.
Epidemiological studies
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 can look back on several epidemiological studies in more than 30 indications, and we are happy to share our experience with you.
Market share estimates
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 assumption and only available in paper of 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 Indian partner consulting firm, Novumed can offer you a unique expertise in planning and implementation of these models - to a fair price.