Drive decision-making with IVD Size & Share Plus

Article tags In-vitro diagnosticsGlobalCentralised Diagnostics (CEDx)IVD GatewaySize and Share Plus

Discover how a standardised research and analytical approach allow for high data comparability and consistency across all markets that can be used effectively by regional and global stakeholders to inform business decisions

Challenge

The commercial and strategic analytics team of an international IVD company manages multiple data sources to deliver market insights to various teams across the organisation with interests spanning different regions, countries and product areas. 

The analytics team needed to provide confidence to internal stakeholders that the market intelligence is reliable for business decision-making. Establishing strong confidence in the underlying data to deliver accurate market insights is a key challenge for the team. Verification and validation of each data set, along with cross-comparisons using data from different sources is a complex and time-consuming process for the analytics team.

How IVD Size & Share Plus helped

IVD Size & Share Plus gathers and integrates information from multiple sources covering political, economic, social and demographic information, healthcare policies, reimbursement and infrastructure, IVD technology and in-depth interviews with key opinion leaders, laboratory and trade professionals. With localised data collection from extensive high-quality primary and secondary sources, and a standardised market sizing model with country-specific assumptions applied across all markets covered, the client could use our data with greater confidence.

The client’s analytics team was able to focus on building its forecast model and delivering reports by feeding the relevant, quality market size and share data extracted from IVD Size & Share Plus into internal forecast models. IVD Size & Share Plus data on 100+ IVD test areas in 30+ countries covered the client’s focus areas in molecular diagnostics testing and point-of-care testing extensively, in particular within the infectious disease area and other areas aligned with the client’s projected pipeline of products.

The delivery of IVD Size & Share Plus data on an interactive platform enabled multiple individuals within the organisation to gain access to the analytics, where users outside of the analytics team could quickly view insights on any particular market segment to find the most relevant information. 

Results

Using IVD Size & Share data increased confidence in the market insights which supported stakeholders at global, regional and country level in strategic planning purposes such as forecasting IVD test demand and to demonstrate available opportunities to investors. 

Mon, 06th Feb 2023 Article tags In-vitro diagnosticsGlobalCentralised Diagnostics (CEDx)IVD GatewaySize and Share Plus