Case Example

Market Size Assessment of Advanced Wound Dressings and Pricing of dNPWT and Incision Management Pricing in India

Client Challenge

Client is a medical device company. The company provides clinical solution in wound management, open abdomen management, incision management, epidermal harvesting and animal health. It is planning to launch two new wound care products in Indian market, one used in incision management and second is disposable negative pressure wound therapy. The top management wanted to discover the price of two new products and study the volume assessment of advanced wound dressings in Mumbai and Delhi.

Our Approach

Two different approaches were followed
1. Price discovery of dNPWT and incision management device
● UC team discussed the value proposition and clinical functionalities of both the products with ~ 20 key opinion leaders in Mumbai and Delhi
● The discussion mainly focused on highlighting the advantages of the products and identifying the possible clinical indications in which the products would be used
● Evaluating the price both the products based on the discussion
2. Volume assessment of advanced wound dressings
● Conducted primary research with ~60 respondents in Mumbai, Delhi, Bangalore, Indore, Coimbatore, Lucknow and Chandigarh across various care setting to estimate the market size by examining the adoption, drivers and inhibitors of Advanced wound dressings

Our Impact

UC based on the discussion and research came up with following outcome
● For price discovery of dNPWT and incision management
● For price discovery of new products, UC divided prices in three indexes that would give client a range of product from minimum to maximum. The three indexes were a) the price at which quality would be compromised b) great value for money c) too expensive to use
● The identified applications for incision management were groin surgery, mammoplasty, abdominoplasty, joint replacement surgery
● The identified applications for dNPWT were wounds that discharge 5-40cc exudate per day. These wounds are mostly diabetic foot ulcer wounds, pressure sores, venous ulcer. It can also be used in other cases like Eczema, facial wounds, cavity wounds and abrasions
● For volume assessment of AWD
● Estimated the market size AWD segments like hydrogel, hydrofiber, hydrocolloid, foam dressings and collagen. Estimation was done using primary research data, expert interview and building market model. Market assessment was also done for paraffin gauzes as it is very widely used across all the wounds
● Assessment of AWD market in Mumbai and Delhi was done by evaluating the demand and supply side. Demand side included city wise prevalence of chronic indications, awareness, treatment and prescription rates, its usage healing time and dressing change frequency. Supply side included monthly sales, frequently selling SKU’s and price ranges
● Further, based on competitor sales and volume sales in Mumbai and Delhi, market size of AWD products were estimated for both the cities. PAN India AWD market was obtained by extrapolating Mumbai and Delhi market size
● Analyzed the growth drivers and inhibitors for all the AWD segments