- Understanding current and future industry standards (e.g. clinical practices, etc.), or current therapies limitations as well as potential game changers in a therapeutic field or market, critical to prioritize research and/or clinical development programs.
- Designing clinical trials to meet the minimum FDA or EMA requirements is not sufficient to ensure product approval and market adoption, managing optimally available resources.
Make decisions grounded in unique market insights. Would it be, for example:
- Understanding treatment guidelines and practices,
- Identifying drivers and barriers of adoption of current standard of care,
- Evaluating burden of proof necessary to maximize market access,
- Or even identifying the key users and payers of the product and understanding how they will evaluate the new product, including the level of performance along several dimensions such as safety, efficacy, ease of use, etc., that will be required to move them to change current practices,
- Defining the value of an innovation, for a new application of a technology or an improvement of an older technology or product, critical to secure competitive pricing and/or market access.
- Understanding which attributes are grounded in your technology, product benefits,
- Will treatment guidelines change over the planning period? Will reimbursement guidelines be amended in the same planning period? Which competitive technologies do we expect in the next 5 years? How big is the market for a product if it misses expectations and only demonstrates a 20% improvement over gold standards? What will payers consider when deciding on reimbursement?
Due Diligence for Financial and Strategic partnerships
- We work with our clients to assist in understanding the market opportunity for the products or services involved in the deal. The ability to quickly tap into clinical, scientific and business experts through our Experts network, allows Life Science Praxis teams to provide high quality insights in a timely manner.