New drug market capacity refers to the demand and sales of new drugs in a specific market. Estimating the market capacity of new drugs is an important step in evaluating the market potential of new drugs and formulating marketing strategies. This article will introduce how to estimate the market capacity of a new drug, including methods such as market research, competitor analysis, consumer analysis, and market size estimation.
1. Market research
Market research is the first step in estimating the market capacity of new drugs, and it is also the most basic work. Market research can be conducted through online surveys, telephone surveys, face-to-face interviews, etc. Respondents can be new drug consumers, pharmacists, physicians and other industry professionals. The survey content can include their demand for new drugs, purchasing habits, brand preferences and sales channels, etc.
When conducting a survey, it is necessary to clarify the purpose and scope of the survey, determine the design of the questionnaire, select the appropriate survey method and survey site, and ensure the quality and authenticity of the survey data. The collection and analysis of survey data is an important basis for estimating the market capacity of new drugs.
2. Competitor Analysis
Competitor analysis is an important step in evaluating the market capacity of a new drug. Competitor analysis can understand the product lines, market shares, pricing strategies and promotional activities of the main competitors in the market. Competitor analysis can use SWOT analysis method to analyze competitors' strengths, weaknesses, opportunities and threats in order to formulate corresponding marketing strategies.
SWOT analysis is a commonly used competitive analysis method, which comprehensively analyzes competitors' strengths, weaknesses, opportunities and threats. In competitor analysis, it is necessary to understand the competitor's product line, market share, sales channel, price strategy, promotional activities, etc. Through competitor analysis, companies can understand the competitive situation in the market, discover the advantages and disadvantages of competitors, and formulate corresponding competitive strategies.
3. Consumer Analysis
Consumer analysis is an important part of assessing the market capacity of new drugs. Consumer analysis can understand the consumer groups, purchasing habits and preferences of new drugs. Consumer analysis can be conducted through questionnaires, focus group discussions and in-depth interviews. Through consumer analysis, the target market of new drugs can be determined, and corresponding marketing strategies can be formulated.
In consumer analysis, it is necessary to understand the age, gender, income, and region of consumers, as well as their demand for new drugs, purchasing habits, and preferences. Through consumer analysis, companies can understand the characteristics of the target market, formulate corresponding marketing strategies, and increase the sales volume and market share of new drugs.
4. Market Size Estimation
Market size estimation is the final step in evaluating the market capacity of a new drug. Market size estimation can use methods such as market share method, income method and market method. The market share method estimates market size based on market share and sales volume. The revenue rule is to estimate market size based on sales and market share. The market rule is to estimate market size based on market demand and sales. These three methods are described in detail below.
market share method
The market share method estimates market size based on market share and sales volume. Market share refers to the position of an enterprise in the market, which reflects the market control ability and influence of the enterprise. The basic idea of the market share method is to first determine the market share of the enterprise, and then estimate the market size based on the market share and sales volume.
The determination of market share is usually carried out by means of questionnaire survey, focus group discussion and in-depth interview. Questionnaire surveys can directly obtain information such as consumers' demand for new drugs, purchasing habits and preferences. Focus group discussions and in-depth interviews can gain insight into consumer behavior and psychology, as well as the influence of new drug brands, etc.
Once the market share is determined, the market size can be estimated based on the market share and sales volume. Sales volume refers to the number of new drugs sold by a company within a certain period of time. Sales volume is an important basis of market share, which reflects the company's sales ability and market influence. The estimation of the market size can be calculated using the average unit price and sales volume, or can be extrapolated based on historical sales data and market demand.
income law
The revenue rule is to estimate market size based on sales and market share. The basic idea of the revenue rule is to first determine the sales of a business, and then estimate the market size based on sales and market share.
Sales volume refers to the total revenue of a company selling a new drug within the market time. The key to the Law of Revenue is determining market share and sales. The determination of market share can adopt the market share method introduced above. The determination of sales requires detailed investigation and analysis of the company's sales data, or inferences based on historical sales data and market demand.
Market size can be estimated based on sales and market share. The estimation of the market size can be calculated by using the average unit price and sales, or extrapolated based on historical sales data and market demand.
market rules
The market rule is to estimate market size based on market demand and sales. The basic idea of the market law is to first determine the market demand, and then estimate the market size based on the market demand and sales.
Market demand refers to the quantity of consumer demand for a new drug. Market demand is an important basis of market size, which reflects the market's consumption capacity and willingness to purchase. The determination of market demand can be carried out by means of market research and market analysis. The analysis and prediction of market demand is a key step of the market law, which requires an in-depth understanding and analysis of consumers' needs, preferences, purchasing habits and purchasing power.
Market size can be estimated based on market demand and sales. Sales volume refers to the total revenue of a company selling a new drug within the market time. The estimation of the market size can be calculated by using the average unit price and sales, or extrapolated based on historical sales data and market demand.
It should be noted that there may be certain errors in the above three methods used alone. Therefore, in actual estimation, these methods can be used in combination, and supplemented and corrected through data analysis, field investigation, etc., to improve the accuracy of the estimation and reliability.
5. Obtain relevant data directly through Yaorong Cloud medical data
Features of Yaorong Cloud National Hospital Database: The data amplification model algorithm involves various characteristic parameters such as demography, economics, incidence rate, and distribution of medical resources. It can efficiently investigate the market size of a certain drug and its type, not only can trace the data back to 2008, but also predict the future market trend through data analysis, and provide a basis for market decision-making.
| Yaorong Cloud - national hospital sales data |
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| data base |
Based on stratified sampling of 2,200+ secondary and above hospitals in various provinces and cities (≧100 beds, including 1,795 general hospitals and 473 specialized hospitals) |
| Zoom in on the data |
Covering about 10,000 secondary and above hospitals (≧100 beds) |
| market share |
about 65% |
| Computational model |
Based on the number of city-level hospitals, hospital beds, hospital types, regional diseases, local medical level, etc., hierarchical zoom-in |
| Drug Coverage and Classification Method |
Chemical drugs/biological drugs: based on ATC codes, supplemented by the national essential drug list and medical insurance list classification, covering dermatology, pediatrics, gynecology, digestive system, nervous system, infectious diseases, oncology, psychiatry, ophthalmology, respiratory Systems, etc., involving 14 categories, 90 subcategories, and 5,000+ varieties with common names; |
| Chinese patent medicine: based on the functions and indications and clinical medication, combined with the ATC classification method and the classification of the characteristics of Chinese patent medicines, covering the digestive system, blood and Qi, cardiovascular and cerebrovascular, dermatology, pediatrics, gynecology, nervous system, respiratory system, tumor family, etc., involving 13 major categories, 74 subcategories, and 6000+ varieties with common names |
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| analysis type |
Annual trend; quarterly trend; enterprise sales pattern; variety sales pattern; dosage form sales pattern; specification sales pattern; drug channel sales pattern |
| background data |
From Q1, 2008 |
Image source: Yaorong Cloud data