LONDON--(BUSINESS WIRE)--#biopharmaceuticalindustry--With a growing geriatric population, increased investment in healthcare research, and increasing chronic diseases, the biopharmaceutical industry is projected to grow in the coming years. However, the COVID-19 pandemic has caused a substantial reduction in healthcare expenditure and had a huge negative impact on all economies. As the pandemic continues to spread, the world is setting high expectations for the biopharmaceutical industry. At this point, companies must evaluate the implications of COVID-19 on their business operations and attempt to recover quickly. Infiniti’s market research solutions help biopharmaceutical companies assess the impact of COVID-19, respond appropriately to recover and prepare for future shocks and changes in the market.
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“The Chinese biopharmaceuticals market is projected to witness substantial growth through 2022. However, COVID-19 has harmed the economy and, therefore, healthcare expenditure, hampering the Chinese biopharmaceuticals market growth. In these unprecedented times, the world is looking towards the biopharmaceuticals and medical-products industry for a response,” says a biopharmaceutical market expert at Infiniti Research.
The client is a biopharmaceutical company based out of China and was facing challenges in preparing for site and distribution issues, supply for raw materials, and introducing new safety measures due to COVID-19. Additionally, the client faced problems in dealing with sudden surges in demand and evaluating appropriate strategic initiatives. The Chinese biopharmaceutical market client witnessed a substantial decline in profits and encountered cash management challenges. The client, therefore, wanted to develop contingency plans for expected launches over the next 6 to 12 months and accelerate productivity improvements to respond to potential pricing and access challenges. They chose to partner with Infiniti Research and leverage our expertise in offering market research solutions. Within the ten-week engagement, the Chinese biopharmaceutical market client also wanted to develop go-to-market models, manage the risk of clinical disruption, and engage constructively on changing policies.
Infiniti’s market research experts developed a comprehensive approach to assist the Chinese biopharmaceutical market client. The three-phased approach included the following:
- Identifying the implications of the COVID-19 pandemic across the value chain
- Developing contingency plans for the coming months and identifying cost-effective technologies
- Shaping new modes of engagement with regulatory bodies and establishing better-equipped trial infrastructure
Infiniti’s custom market research solutions assisted the Chinese biopharmaceutical market client in addressing near-time cash management issues and ensure business continuity. Additionally, with the appropriate technologies and tools, the client was able to engage with healthcare professionals and accelerate their transformation efficiently. With improved collaborations in R&D, the client was able to accelerate the approvals of vaccines and therapeutics. Further, the Chinese biopharmaceutical client was able to increase the agility of operating models to handle demand shocks better.
The Chinese biopharmaceutical market client was also able to:
- Establish trial infrastructure and regulations that are better equipped for future disruptions
- Plan for challenges such as biosecurity hazards and cybersecurity threats
- Develop new contracts and closer relationships within the healthcare industry
Speak to industry experts to gain a comprehensive understanding of our market research solutions for the biopharmaceutical industry..
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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