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Seven Key Success Factors In Market Opportunity Assessments

Best Practices In Opportunity Assessments Pave The Way For Successful Drug Development

 
• By Amanda Micklus

In conducting pharma market opportunity assessments, there are several best practices that exist and common mistakes to avoid. In Vivo shares expert learnings from Pharma Intelligence’s Custom Intelligence leaders.                    

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• Source: Alamy

Market opportunity assessments are a critical tool that biotech and pharma companies use during the drug development process to gain a deeper understanding of the potential clinical and commercial differentiation, competitive landscape and overall market dynamics for a new product. These assessments provide an early window into perceptions of a company’s product in development, answering key questions including whether it will address an unmet need, where it will fit in the treatment paradigm, the intent to prescribe, and uptake and sales forecasts.

Opportunity assessments enable a company to envision their product in the marketplace, particularly with the patient in mind. When performed well, the process connects an idea, hypothesis or pipeline program...

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