Case Study: Market entry strategy
Investigating market entry channels in the European healthcare sector
Demonstrated strength of our network to find sales partners
Offered support during the ISO certification process
Conducted interviews with key opinion leaders
Health expenditure in China doubled in 2018 compared to 2010 to €256 per capita. Due to the persistently high NCD* mortality, these expenses will tend to increase. An increase in the life expectancy of the Chinese population from 44 years to 77 years in the last 60 years shows the importance of the flourishing health sector.
Challenges & Objectives
The client required our support for the expansion of its business to the European market. The client had two objectives: selling its Chinese goods in Europe and building a manufacturing site in Germany. As its products had not yet been certified by European regulators, it further required help for the product's approval procedure. Additionally, sales channels and product requirements had not been identified which created the need for relevant key opinion leaders and potential customers to be contacted.
How our service helped
Using our extensive network within the healthcare industry, we created valuable connections between our client and their future customers. Performing interviews with both relevant physicians and established hospitals allowed our time-to-market analysis to reveal strengths and weaknesses of the client's product. Their products were successfully introduced in Italy and Spain and a German department was subsequently founded.
The client gained a nuanced understanding of the European healthcare market within their specific segment and established sales channels for the successful distribution of their products. With our help, the client successfully entered the European market and gained valuable insights about legal requirements and their customers' expectations of their product.
OUR CONSULTING APPROACH
... for your entry into the healthcare market in China
... complements our in-depth knowledge of the Chinese healthcare system
... are part of our approach and setting us apart from generic consulting
... on the healthcare system and China ensure high-quality advice
We enable and support your China-related plans
Providing profound understanding of the Chinese healthcare ecosystem
Continuous market monitoring and close exchange with key opinion leaders and policy-makers
Identification of relevant partners, important decision makers and political contacts
Development of customized business plans using an extensive, high-level network and China-based consultants
Identification of business and growth opportunities in the relevant health care segments
Initiation of partnerships with relevant companies and organizations
Management of license and certification process
Management of supply chains and regulatory compliance
OUR SUCCESS STORY
A selection of our previous projects:
Analysis of marketability
Analysis of an OTC medicament for the treatment of mouth and throat Infektione in order from a German pharmaceutical company and the study of market access requirements.
Execution of a go-to-market analysis on behalf of a leading global insurance company.