Weighing Demand Opportunities in the Pharmaceutical Market
A leading biotechnology company saw a significant opportunity to increase production of a pharmaceutical, but faced the challenges of a long manufacturing cycle, short shelf life and widely varying demand cycles. The need for accurate demand estimation was critical, as overestimation could lead to a glut of product, and underestimation would leave money on the table.
Our client sought to assess the market to gauge future demand, explore effective ways to stimulate demand, and measure the role of public perceptions on demand. To do so, TRC conducted a study with a general adult population, as well as people with one of several chronic conditions.
Successful Results Implementation
Our research determined that demand could be expected to mirror that of the previous year, and that current perceptions of the pharmaceutical's usefulness and efficacy had little impact on demand, except among the at-risk population.