Market Access Strategy for an AI-Powered Device (Focus: India)
Authors: A. Shukla, R.M. Dokala, J.R. Philomen
Our EU-based client is developing an AI-driven device for the diagnosis of a common diabetes-related condition. They intend to launch the device in India, which has the second highest diabetic population in the world.
The Business Problem
The client sought our help to devise a market access strategy to ensure the device’s integration into routine clinical practice upon its launch. They specifically wanted to know which pricing strategy to adopt considering the price-sensitive nature of the Indian market.
Like most of our clients, this EU-based client was referred to us by our previous ones. We were engaged based on our reputation for providing successful market access solutions to healthcare companies hoping to establish themselves in the APAC region (Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore, Philippines, Taiwan, and Thailand).
We performed in-depth secondary research to understand the existing and upcoming competition and their strengths and weaknesses, and to identify key stakeholders involved in the diagnosis of the condition. Findings from the secondary research were discussed with the client, based on which the sample populations were finalized.
We collaborated with our subject matter experts to create stakeholder-specific questionnaires. A representative sample of General Physicians, Specialists, and Patients, from across India, were recruited and screened for relevancy. Qualitative F2F IDIs were conducted, with the screened physicians and patients – our field presence allowed us to conduct face-to-face interviews in less than 2 weeks as per our client’s request. The interviews were conducted as per ESOMAR guidelines.
The questionnaire for physicians was designed to understand, among other things, their perception of the condition, AI technology, the utility of the client’s device and how it compares to available techniques. We also discussed physicians’ and their patients’ paying capacity, willingness to pay, and tested various pricing strategies.
The insights allowed us to make recommendations concerning the optimum positioning of the device. With regard to the pricing strategy, we suggested a tiered pricing approach as opposed to the one-size-fits-all approach as is generally preferred.
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