Can we successfully enter and win in the over-the-counter consumer diagnostics market?
Our client identified OTC diagnostics as
a market they were interested to explore
and wanted to know if this was a viable
opportunity for them.
Our client asked:
Our client wanted to understand if there was a compelling opportunity space in
the OTC consumer diagnostics market. More specifically, they hoped to better
understand which segments might offer sufficient reward to overcome the
obstacles set for new opportunity spaces.
Our client also wanted to know how they could effectively win in the space,
given that to do so would require technology and market knowledge well
outside of their core business.
The project story:
We worked closely with our clients to immerse ourselves in the knowledge they
had already aquired in this space, before undertaking a program of research
that looked at this segment the OTC diagnostics space; the size and growth
of other key segments; best in class products in key segments; emerging
technology that might compete in these segments in the future; and key players
in these areas – including big companies, emerging players and start-ups.
We then narrowed down the opportunity to two key market segments and
mapped the key players in these segments, before recommending a possible
technology to pursue and partners that our client could work with if they did
decide to enter this space.
Results: deliverables and outcomes
Our output identified both a market for the product and a lead partner to
work with. Our client went on to establish a joint venture with this partner and
successfully entered the market with its product.
Our consultants, scientists and engineers redefine what’s possible and help R&D groups across the medical, industrial, consumer and food and beverage sectors achieve commercial return from their opportunities.
We have completed over 10,000 projects for start-ups and global market leaders alike, from understanding the market & technology landscape through to developing and delivering complex products.