The client, since its foundation, leveraged its key technologies such as adhesives and coating and expanded globally across various industries including electronics, automotive, housing, infrastructure, environmental, and medical. The company’s R&D centre developed a point-of-care Microalbumin testing device. As part of its overall growth strategy, the client wanted to launch this device in India and in the UAE
The top management requested UC Strategy to “Develop a Market Entry Strategy for the point-of-care testing device” with the following strategic questions to be answered across India:
- What is the current physician prescription trends for point of care (POC) testing devices?
- What is the current market segmentation for the POC testing devices?
- What is the prescription behaviour of general physicians and their key purchase criteria or barriers to adoption for the same?
- What is current distribution structure and dynamics for the POC testing devices?
- What is the regulatory landscape governing the POC testing devices?
- What is the competitive landscape for the point-of-care microalbumin testing devices and what are the key success factors for the same?
- What should be its entry strategy in these markets (including route to market, in-house vs outsourced manufacturing, etc.)
In line with the above approach, the UC Strategy team conducted extensive primary research with ~100 respondents from multiple tier 1A, 1B, 1C and beyond cities. Respondents included general physicians, diabetologists, nephrologists, personnel from diagnostic labs, distributors and current equipment manufacturers.
The client was provided with a clear understanding of the pros and cons of entry in India. The client’s value proposition received the direction and the strategy to move forward.