Case Study 4. Market Assessment & Valuation Gynaecological Devices - IDR Medical

Case Study 4. Market Assessment & Valuation Gynaecological Devices

Posted on: 17th June 2020

The Client & Business Challenge:
Our client is a leading medical and surgical devices company, with a focus on female reproductive and neonatal health solutions.
Through an impressive expansion strategy our client had evolved and grown its portfolio in the US and were looking to improve their international reach. They identified key markets in Europe and Latin America where they wanted to optimise sales channels and set future priorities for their business.
Our research was conducted in 7 markets over 2 phases; an initial desk research phase and a qualitative interview phase. The objectives of the project were:
• Market sizing: Estimate volumes of key procedures and conditions relevant to the devices.
• Distribution channel audit: Assess client and competitor distributors and potential partners.
• Country target prioritisation: Conduct a country level assessment and prioritisation based on procedure volumes, competitive landscape, regulatory requirements, and channel suitability.

Our Approach:
It was initially hoped that most of the data for this project could be collected via desk research using a variety of sources, including clinical studies, white papers, distributor websites, and online statistical databases. It was collected as raw data relating to the prevalence of conditions and procedures for each device, as well as relevant female populations. This data was consolidated and standardised as far as possible across the markets.
However, few countries publish comprehensive healthcare data, and it is not studied in a uniform manner. Therefore, with serious limitations to the data we could collect, we halted the desk research phase and elected to introduce a primary research element consisting of interviews with leading gynaecologists. 50-minute, telephone depth interviews were conducted, which allowed us to gather insights into the use of these gynaecological devices and the commonness of single-use devices in the markets by private and public sector, with respect to the data that had already been collected. We also took the opportunity to evaluate user perspectives on the devices and their pricing, to understand the likelihood of uptake given these parameters as well. We achieved this within the original budget.

The Results and Impact:
IDR Medical developed individualised recommendations for each of the products for every market.
Using our client’s sales data and comparing this to the prevalence of single-use devices in the market, we were able to estimate the performance of their distributors and make recommendations based on these results. Where possible we were also able to identify the ideal centre types to target in each market based on price points and preference for single-use devices, as well as current regulations, incumbent equipment, and reimbursement/insurance environment.
Our recommendations focussed on engagement with distributors, to confirm our evaluations and follow-up on sales performance, verifying that the appropriate specialties, centres and countries are being targeted in an effective manner.
The client used our research and recommendations as an initial scoping phase, preceding deeper investigations into the most viable markets for each product category. This ultimately helped them to determine the most appropriate commercial structure in these countries, be that direct sales channels, distributors or a combination of both.