Can we successfully enter and win in the over-the-counter consumer diagnostics market?

Our client identified OTC diagnostics as a market they were interested to explore and wanted to know if this was a viable opportunity for them.

Our client asked:

Our client wanted to understand if there was a compelling opportunity space in the OTC consumer diagnostics market. More specifically, they hoped to better understand which segments might offer sufficient reward to overcome the obstacles set for new opportunity spaces.

Our client also wanted to know how they could effectively win in the space, given that to do so would require technology and market knowledge well outside of their core business.

The project story:

We worked closely with our clients to immerse ourselves in the knowledge they had already aquired in this space, before undertaking a program of research that looked at this segment the OTC diagnostics space; the size and growth of other key segments; best in class products in key segments; emerging technology that might compete in these segments in the future; and key players in these areas – including big companies, emerging players and start-ups.

We then narrowed down the opportunity to two key market segments and mapped the key players in these segments, before recommending a possible technology to pursue and partners that our client could work with if they did decide to enter this space.

Results: deliverables and outcomes

Our output identified both a market for the product and a lead partner to work with. Our client went on to establish a joint venture with this partner and successfully entered the market with its product.