What is Market Landscape Assessment?
Billions of dollars and countless years are invested to innovate new treatments. Coupled with increasing pressures on the industry to speed up new developments, and at the same time to decrease their costs, life sciences companies must decide rather quickly whether to go ahead or abandon a product idea. By leveraging insights from internal and clinical experts, trends, technical feasibility and modeling. companies can make these “go/no-go” decisions more quickly and efficiently.
- Determine the true market size (other solutions will often overestimate)
- Recognize potential regulatory and reimbursement obstacles
- Understand distribution channels and how best to establish partnerships
- Knowledge of the clinical environment and attitudes
- Product design considerations
- Document significant cultural issues
- Establish need for companion product or service
Snowfish has worked successfully with multiple companies ranging from multinational to startups to help them make go/no go decisions. Our success comes from paying special attention to the micro-issues, such as varying clinician treatment responsibilities, non-clinical stakeholders, product design issues, regulatory barriers, and cultural issues. We have evaluated dozens of product opportunities over the years for medical device, pharmaceutical and biotech companies.