One of the leading pharmaceutical companies in the healthcare sector aimed to capture the market in the Asia Pacific region by launching its product and entering the Alzheimer Diagnosis and treatment portfolio of the region.
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The pharmaceutical company had its last leg in the research and development of a product- testing kits that helps with Alzheimer’s diagnosis. They wanted to understand how their product will be received in the Asia Pacific region.
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The company aims at less expensive diagnostic kits for measuring the amount of amyloid beta in the blood.
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The company wants to expand its business growth by getting approval for marking and manufacturing drugs in the region.
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However, preparing for the early introduction of the testing kits in the region was a huge challenge
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Moreover, the failure rate of clinical trials in the region is high therefore mapping the progress of the competitors was a major hindrance
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With the help of Research Nester’s consulting efforts, the company was able to understand its prospects and valuable guidance was further offered.
The company plans to geographically expand its business growth by entering the market of Asia Pacific Alzheimer’s diagnosis and treatment. The company’s primary goal was to reduce the price of the medication by authorizing the marketing and manufacturing of the drugs and diagnostic kits in the region itself. Moreover, they intend to introduce minimal invasive test kits into the region. For putting its shoes on Alzheimer’s diagnosis and treatment in Asia-Pacific, the company trusted Research Nester, a top service provider and a pioneer in consultation and marketing strategy research. With the help of Research Nester, the company did a pre-launch of their testing kits in some parts of the region, including India and Singapore. In the span of a 5-month consultation, the company successfully delivered the test kit for identifying the amyloid beta accumulation in the brain in the APAC region.
Introducing Alzheimer’s diagnosis and treatment in Asia-Pacific was quite a task, as the market is already filled with great manufacturers. Besides this, getting approvals for manufacturing and marketing the product for reducing the cost of the kits was another challenge. Research Nester provided the company with detailed research of the market, from knowing about the key players in the market to the problems faced by other major pharmaceutical companies while carrying out the clinical trials. The report covered by Research Nester included the study on 10 key players in the Asia Pacific Alzheimer’s diagnosis and treatment market. This provided a comprehensive overview of the history, present, and future market scenario and the difficulties other companies in the Alzheimer’s diagnosis and treatment industry in Asia Pacific had to deal with. Additionally, the team of Research Nester offered an analysis of similar products at several locations throughout the region.
Through the projections provided by Research Nester, the business put out its new strategy, which entails improved company growth and addressing all of its major objectives, such as creating a safe product and capturing the marketing and manufacturing. In their analysis, the Research Nester team made a growth-supporting prediction about the Alzheimer’s diagnosis and treatment market in the Asia Pacific region for the period 2023–2035. A new product's introduction in an established market is never easy. By placing its trust in Research Nester, the company was able to find a solution for its current problems of starting a manufacturing unit and future problems, such as doing extensive research and development for the minimal invasive kits. The report presented by Research Nester also contained the primary growth drivers- such as the growing geriatric population, rising cases of dementia, higher approvals of the drugs, and government initiatives to help patients suffering from Alzheimer’s dementia. This helped the company derive the right strategy for introduction into the APAC region.
Post the implementation of recommendations and solutions by Research Nester, the company also measured growth of 48.2% in 2022 which is higher than its previous rate of 35% in 2020.
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