Outsource2india Developed a Forecasting Model for a Healthcare Firm
The client was a U.S.-based healthcare company. The company is well-known for its medical devices, diagnostics, branded generic medicines, and nutritional products.
They requested to develop updated forecasting models that can help them better estimate the potential of in-licensing candidates and pipeline products quickly.
The client was facing certain challenges before they approached our team at O2I to develop the forecasting model. Some of the major challenges were
- The current order of entry models was developed using small molecule historical sales and do not reflect the changing market dynamics and the key global markets that are of high interest to the client.
- By using an updated "order of entry" model to more accurately estimate potential market share and potential sales, the company could provide internal source-relevant forecasts to ensure better decision-making.
Keeping the client's requirements and challenges in mind, our team at O2I developed a streamlined project plan and devised the following solution -
- OOE-based forecast approach was used to evaluate and develop a detailed share analysis of multiple products in multiple therapeutic areas launched during the past defined number of years. The approach can be explained in the following steps.
- Developed a new forecast tool for "Order of Entry" (based on historic IMS sales data) patient share for specific therapeutic areas to help in forecasting for new products and in-licensing candidates.
- A forecasting tool using "Launched Products Attributes" to help Clients to refine their forecasting for pipeline products based on specific product attributes.
- Excel-based, an automated user-friendly dashboard for, "New Order of Entry" and "Launched Products Attribute" based forecast models.
The client was highly impressed by the results delivered by our team. This project demonstrated a combined client requirement for accurate research and a fast turnaround. Both qualities (accuracy and speed) were delivered using an experienced research team. The project was completed within a 6-week timeline.
We offered high-quality results - our research analysts monitored and cross-checked research work continuously to deliver precise data.
Outsource Pharmaceutical Research Services to Outsource2india
Outsource2india has been a leading pioneer in providing the best quality pharmaceutical research services and a series of other research services to clients around the globe. We have a team of highly qualified and certified researchers on board who can take care of all your needs with ease. We leverage the power of the latest and the best research tools and software while delivering top-notch services to clients.
If you are looking for a reliable and cost-effective pharmaceutical research service provider, then you have come to the right place. Get in touch with us today!