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- 1. Action Learning Project Market Potential in UAE for AlphaMD Analytics Company Global MBA 1 S P Jain School of Global Management Bhumika Kataria Jasleen Sethi Kim Hongrak
- 2. CONTENTS 2 001 Introduction 002 Literature Review 003 Research Methodology 004 Recommendations & limitations 005 Appendix
- 4. 1.1 4 A note on study about the company • AMD Analytics is a start- up focused on providing solutions to life sciences by conducting custom m arket research High quality solution Global site Various projectLife science • In operations since last 1 year and have offices in US & India. They also have presence in Cana da & EU. • The company provides h igh quality solutions to cl ients within life sciences (pharma, medical device , biopharma, diagnostics and imaging). • Executed projects for various companies at different stages of growth. • 20 member team right now & growing. Growing up
- 5. 1.2 5 Objective of study • Detailed study of Pharmaceutical Sector in UAE • Analyzing their current and unmet needs • Proposing a market strategy to approach the right target market
- 6. 2Literature review Action Learning Project 6
- 7. 2.1 7 Study on Pharma Sector in UAE • Local manufacturing Pharma companies - 8 • Most developed Pharma sector • Strong growth in tra ding in Pharma sect or • Investments in Healt hcare sector DHC a nd DuBiotech projec ts • Strong healthcare infrastructure • Huge scope - medic al tourism industry – Dh 1billion revenue i n 2015 • Increment in openin g of pharmacies in g rocery shops • highest per-capita expenditures in medicines • Huge potential for growth – changing lifestyle • Increase in income and aw areness of self-monitoring devices • No. of registered pharma companies - 2688 • Market Size - 53.8 AED • Growth rate – 7.9%
- 8. 2.2 Generic challenges faced by pharmaceutical companies in UAE Market highly relies on imports for hi-tech prescriptions Local manufa cturing sector is small Focuses on basic medicines Pace of regional innovation is slower Prevalence of counterfeit products entering and exiting from UAE 8
- 9. 2.3 Ansoff matrix 9 AMD analytics company to enter new market with existing services(pharmaceutical) • Market Development PESTEL TOWS Categorize business
- 10. 2.4 Ansoff matrix – PESTEL analysis SocialEconomicPolitical Healthcare is regulated at both Federal and Emirate level UAE is benefitting from the health r elated free zones like DuBiotech Both soft and hard infrastructure are a challenge. Increase by 3.3% ,GDP in 2012 Product life cycle cost has shortene d and in-licensing, R&D & marketing costs have risen UAE have an open economy with a high GDP per capita, more than 30. 000 US dollars (according to IMF (2 014)) Substantial annual trade surplus UAE’s population from different cult ural background .Thus, each group has its own set of unique healthcar e needs. The increasing obesity amongst as sociated health risks. Public activism has also increased through the harnessing of new soci al networking technologies. 10
- 11. 2.4 EnvironmentalLegalTechnology Create new business prospects in ter ms of new therapy systems and serv ice provisions. Demand for customized treatments have unleashed new opportunities. Many pharmaceutical companies to work in partnership with IT companie s to improve electronic processing, in crease efficiency, reduce costs, and protect patient confidentiality. Law No. 4 prohibits opening of medic al stores and pharmaceutical factorie s without license. License applicants for pharmacy or medical store can be only UAE natio nals. Imports and distribution of imported pharmaceutical products can only be done if they are registered with the Ministry of Health. Law contains various labelling requir ements. Environmental Impact Assessment ( EIA) program. To minimize environmental impact & to preserve the pre-existing natural heritage. State-of-the-art waste disposal facili ties, to conserve and recycle water and energy. More than 60 events & campaigns t o drive the message of sustainabilit y to all sections of the community. Ansoff matrix – PESTEL analysis 11
- 12. 2.5 Ansoff matrix – TOWS analysis of AlphaMD TOWS Threat Weakness Strength 12 • Nominal amount to be paid as initial payment(20%) • Fixed project pricing (not overcharging) • Follow SLAs and mention KPIs in contracts. • Experts in medical and pharma field • Conduct project globally • Positive outlook for Biotech, Pharma industry • Increase attention of people on health • Huge potential for growth in healthcare sector • Increase in per-capita expenditures in medicine • More than 50 numbers local and global consulting firm in Mumbai • Increasing cost of human capital • Solely focus on pharma industry Opportunity
- 13. 3Research Methodology Action Learning Project 13
- 14. 3.1 14 STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 • Identify SME Pharma & Biotech firms based in UAE. • Parameter Identification and preparation of discussion guide • Identifying the key para meters for prioritized or ganizations through in- depth Interview • Prioritize the list throug h Decision matrix • Identifying the critical Needs and quality drivers for these organizations by taking in-depth interviews with key stakeholders and implementing CTQ Trees model • Assess the performance requi rements for these organization s that AMD can satisfy and pit ch in UAE market. Methodology
- 15. 3.2 15 STEP 1 - Identified 50 SME Pharma & Biotech firms based in UAE
- 16. 3.3 16 STEP 2 - Parameter Identification 1. Product Launch 2. Franchise model 3. Marketing activities 4. Business development 5. Payer Insights 6. Business Analytics 7. Competitive Intelligence 8. Market research 9. Channel and contracting
- 17. 3.4 17 STEP 2 – Interview discussion guide
- 18. 3.5 18 STEP 3 - Qualitative Analysis through In-depth interviews Interviewee 1 Interviewee 2 Interviewee 3 Name Mr. Rajendra H. Bhandari Mr. Benson Dr. Fayyaz Vakil Title Advisor Director Business Unit Manager Company Neopharma Aras Medical Devices and Equipment Gulf Pharmaceuticals Call +971565396926 +971504606805 +971507102311 Interview • Details of interviewees
- 19. 3.5 STEP 3 - Qualitative Analysis through In-depth interviews • Medical reps should be efficient to convince doctors & physicians • Overall Insights from the in-depth interviews • Competitive intelligence is the most important parameter • product launch activities, market research, channel & contracting • For Medical Devices & Equipment companies, delivery time key factors • For R&D companies, product development & selection based on customers’ needs 19
- 20. 3.5 STEP 3 - Qualitative Analysis through In-depth interviews • Consumer insights are gained with the help of IMS health and marketing team (internal or external) • Overall Insights from the in-depth interviews • For medical devices company type, contracting is done mainly for the maintenance of the products • IMS health is a popular research agency working for many organizations to provide them with market data • Ministry of Health is sole regulatory authority to govern the systems & processes of this sector 20
- 21. 3.6 21 STEP 4 – Decision matrix 1 Parameters Product Launch Franchise model Marketing activities Business developme nt Payer Insights Business Analytics Competitive Intelligence Market research Channel & contracting Weighted total Weights. Distribution & trading 3 0 3 4 5 3 5 3 5 Marketing 5 3 5 3 5 3 5 4 5 Manufacturi ng & R&D 5 3 3 3 3 3 4 4 5 Medical Devices 3 0 4 3 3 3 5 5 3
- 22. 3.6 22 STEP 4 – Decision matrix 2 Parameters Product Launch Franchise model Marketing activities Business developme nt Payer Insights Business Analytics Competitive Intelligence Market research Channel & contracting Weighted total Weights. 16 6 15 13 16 12 19 16 18 Distribution & trading 3 0 3 4 5 3 5 3 5 Marketing 5 3 5 3 5 3 5 4 5 Manufacturi ng & R&D 5 3 3 3 3 3 4 4 5 Medical Devices 3 0 4 3 3 3 5 5 3 9 87 654 3 21
- 23. 3.6 23 STEP 4 – Decision matrix 3 Parameters Product Launch Franchise model Marketing activities Business developme nt Payer Insights Business Analytics Competitive Intelligence Market research Channel & contracting Weighted total Weights. 16 6 15 13 16 12 19 16 18 Distribution & trading 21 0 12 12 25 6 45 18 40 Marketing 35 3 20 9 25 6 45 24 40 Manufacturi ng & R&D 35 3 12 9 15 6 36 24 40 Medical Devices 21 0 16 9 15 6 45 30 24 9 87 654 3 21 179 207 180 166
- 24. 3.6 24 STEP 4 – Decision matrix 4 Parameters Product Launch Franchise model Marketing activities Business developme nt Payer Insights Business Analytics Competitive Intelligence Market research Channel & contracting Weighted total Weights. Distribution & trading 45 40 179 Marketi ng 45 40 207 Manufacturi ng & R&D 36 40 180 Medical Devices 45 30 166
- 25. 3.6 25 STEP 4 – Conclusion from decision matrix analysis • Marketing pharmaceutical companies scores the highest and hence has the highest scope. • R&D and distribution and trading pharmaceutical companies have got the next highest weighted score. • Medical devices company type seem to prefer competitive intelligence and market research activities. • The most important parameters for almost all companies types are Competitive Intelligence and Channel and Contracting.
- 26. 3.7 26 STEP 5 – CTQ Trees Need Driver 1 Driver 2 Driver 3 Requirement 1 Requirement 2 Requirement 3 Requirement 4 Requirement 5 Requirement 6 Identifying critical needs Identifying the quality drivers Identifying performance requirements
- 27. 3.7 27 STEP 5 – CTQ Trees for Alpha MD • Budget friendly quality services • Competitive Intelligence • Channel & Contracting • Market Research • Gather primary intelligence without internal bias • Affectively aggregate primary and secondary info. • Thorough & global view of competitive landscape • Understand reform based needs of customers • Implement value based pricing & contracting • Differentiate by getting a product out of lowest cost for clients • Examine & synchronize activities with regulatory. • Build relationships to assess needs of different players. • Determine specific take-away to capitalize on short amount of time.
- 28. 4Recommendations & Limitations Action Learning Project 28
- 29. 4.1 29 Conclusion • Competitive intelligence >> market research >> channel & contracting. • Marketing pharma companies to focus highly on competitive intelligence data. • The SME companies require to outsource only if the services are cheaper. • The companies do not compromise on the quality at the same time.
- 30. 4.2 30 Recommendations 1. Provide high quality competitive intel ligence with effective Street Combin g 2. Budget friendly services owing to pri ce-sensitive market 3. Efficient contracting → special show er equipment companies→ help des alination 4. Accelerate the usage of Ayurvedic & Naturopathy in UAE
- 31. 4.2 31 Recommendations 6. Build relations with MOH of Dubai → counterfeiting and sales without pres cription 5. Promote medicines dealing with obe sity, diabetes and heart-related disea ses 7. Come up with Me Too Market strateg ies for R&D pharmaceutical compani es
- 32. 4.3 32 Limitations • Revenue and Market Cap not disclosed for most SMEs as they are found to be closed and smaller groups. • Dubai Healthcare City and Dubai Healthcare Authority denied to disclose data for any of the companies as it was against their privacy policies. • Unavailability of responses from the potential SME clients. • Insights based on limited in-depth interviews conducted from three industry experts. • Quantitative(questionnaire) to be conducted is not available.
- 34. 34 5.1 Meeting log • 07/05/2016 – 45 mins – Dr. Kaushik De • 21/06/2016 – 20 mins – Dr. Kaushik De • 04/07/2016 – 35 mins – Dr. Kaushik De • 04/08/2016 – 5 mins – Dr. Kaushik De • 14/06/2016 – 60 mins – Dr. Balakrishna Grandhi • 21/06/2016 – 20 mins – Dr. Balakrishna Grandhi • 03/07/2016 – 60 mins – Dr. Balakrishna Grandhi • 21/07/2016 – 90 mins – Dr. Balakrishna Grandhi • 03/07/2016 - 20 mins – Dr. Dhrupad Mathur • 03/08/2016 - 15 mins – Dr. Dhrupad Mathur
- 36. Thank you Action Learning Project 36
Notes de l'éditeur
- Roughly 2month we work with amd company, and what we have done is to come up with marketing strategy to SME size phama company in UAE
- 01- from first chapter, let s discuss about what AMD company does and explain research objective 02 – understand UAE pharma sector and what sme phama faced, thing is we analyze the market situation with ansoff matrix 03 – let me discuss about how to analyze. What we done was qualitative analysis with framework like CTQ, decision matrix, we also done questionnaire but doesn’t get any responses. 04 – let me explain recommendation and conclusion
- What AMD company does provide commercial research and analytics services to the pharma companies, medical, biotech etc. They have global office, Canada So far they conducted various project & bod member are pharma experts
- Let s come to objective. What is research objective, first one is deep study on pharma sector in UAE. Second thing is understand what SME pharma faced to expand market Last thing is what marketing strategy is proper for them.
- - UAE-Most developed Pharma sector in UAE According to a recent study, UAE has the most developed Pharmaceutical market in the Middle-East. - Strong growth in trading in Pharma sector UAE market attracts lots of manufacturers and traders. There has been a strong growth in the trade in the Pharmaceutical sector. - Investments in Healthcare sector by Dubai Healthcare City and DuBiotech projects The widening of Gulf Cooperation Council market integration and also introduction of the integrated healthcare insurance systems, there is a huge scope for the boom in the trading sector in the Pharmaceutical industry in the long-run. Huge investments in healthcare sectors in the UAE region such as Dubai Healthcare City, DuBiotech projects, etc. are great opportunities for FDIs in healthcare sector. - UAE has a strong healthcare infrastructure and highest per-capita expenditure in medicines. - Huge scope - medical tourism industry can be tapped There is a huge scope for the pharmaceutical industry as they can tap the medical tourism industry. Dh1 billion in medical tourism revenues in 2015. Dubai’s 26 hospitals, both private and government, received nearly 630,831 health tourists last year, of which 298,359 were foreigners who came from abroad, accounting for nearly 46 per cent of the total - Increment in opening of pharmacies in grocery shops Increment in the opening of pharmacies in grocery stores will boost the Over-The-Counter sales, which will make the manufacturers as well as traders realize their opportunity for growth. - Huge potential for growth - changing lifestyle, reduced physical activity, increase in obesity and heart related diseases This is on the back of several factors, including a growing population, mandatory health insurance and the growth of regional medical tourism, among others. There is a huge potential for further growth in this sector as lifestyle of people is changing and is hugely influenced by the western lifestyle, hence increasing diseases like obesity. As 80% of the residents in Dubai do not participate in any of the physical activities, therefore there is a huge scope for the pharmaceutical sector to concentrate and target obese and overweight residents in UAE. Heart related diseases and diabetes are also areas where Pharmaceutical industry should concentrate more as these diseases are common and a huge area for growth. - Increase in income and awareness of self-monitoring devices Increase in the incomes and awareness leads to increment in the personal care, which will hence increase the sales of medical devices that help in monitoring the health like blood-sugar levels, heart-rate monitors, etc.. Pharmaceutical products in this area have huge scope for growth. - No. of registered pharma companies in UAE - 2688 - Market Size - 53.8 AED - Growth rate – 7.9% - Local manufacturing Pharma companies – 8 Local production of medicines is done by eight companies in the UAE. These include Julphar, Neopharma, Globalpharma, Medpharma few to be named. Besides supplying the domestic market, they export a share of their products to Middle East and North Africa and South East Asian countries.
- Local manufacturing sector is small Focuses on basic medicines Market highly relies on imports for hi-tech prescriptions Pace of regional innovation is slower Prevalence of counterfeit products entering and exiting from UAE
- Local manufacturing sector is small Focuses on basic medicines Market highly relies on imports for hi-tech prescriptions Pace of regional innovation is slower Prevalence of counterfeit products entering and exiting from UAE
- Let me discuss about research methodology. First step, what s happening is we identify 50 numbers SME phama, biotech, medical device company UAE From step 2, we identified parameters & prepared interview discussion guide and questionnaire Next, step 3, what we did is we scoring parameter through indepth interview and through doing framework, CTQ, decision matrix we decided which parameter is the most important. Finally we come up with marketing strategy and conclusion
- These are the 9 parameters It is based on existing services that AMD company provides
- What we prepare was questionnaire and indepth telephonic interview but we don’t receive any responses from questionnaire. We completed 3 indepth telephonic interview
- Competitive intelligence is most important parameter, what it is how much you can know about competitors product service strategy. Also, product launch activity, market research, channel & contracting activity also important parameter. -Regarding medical device & equipment companies, delivery time is key factor -Medical reps roles is very important here to impact their revenue, they need to properly trained to convince doctor & physicians
- -Ministry of heath has powerful authority. they control most pharma system & process. -IMS health is popular consulting agency for healthcare performance, that is one of competitors to AMD company. -Medical device company type normally make a revenue from maintenance of product that they sell -They get consulting from IMS and get consumer insights