Case study: Medical Reagents – Strategic Business Review for Diagnostic Reagents

The challenge

A multinational chemical manufacturer planned to enter the diagnostics reagents market in India.

The objectives of the study were to assess India’s market size for diagnostics reagents as well as understand purchasing practices and pricing schemes to facilitate a successful product launch.

The process
Spire undertook secondary research to grasp local certification requirements as well as to identify interview targets.

This was followed by:

On-site interviews with dealers, distributors and manufacturers of diagnostic reagents
Face-to-face and telephone interviews with nursing homes, hospitals and clinical labs that purchased these reagents
Interviews with industry regulators and drug control agencies

The results
Based on Spire’s analysis and recommendations at a face-to-face presentation, our client took a decision on the level and type of investments to be made in order to penetrate the India market.

Project deliverables included:

Market sizing in terms of number of tests and value
Breakdown by product categories (types of reagents)
An analysis of competitors’ pricing and bundling strategies