New entrant in Ultrasound guided breast biopsy device market (Europe)
Client
A Swedish Medical Technology Company dedicated to advancing diagnosis and care of breast cancer. The company has an innovative biopsy system in late stage development.
Business Objective
  • Market assessment for launching its product in regions -Europe, USA, China
  • Analysing the current and future demand for breast biopsy devices
  • Competitive mapping in Europe, US and China
Challenges/Focus areas
  • Knowing Potential demand and usage pattern of breast biopsy devices in different regions
  • Understanding the key criteria considered by end-user for breast biopsy devices selection
Solutions
Unmet need analysis
Unmet need analysis – Provided key unmet needs by each stakeholder
Patient – Reducing the number of repeat biopsies
Physicians – Challenges faced with respect the detection of small lesions
Payers – Standardization of reimbursement for diagnosis and screening procedures
Market forecast
Market segmentation focused on Biopsy device type and end-user.
Market forecast based on breast cancer incidence trends, usage pattern/preference, pricing.
Epidemiology analysis
A detailed epidemiology-based model was used to arrive at the market size.
Key parameters considered in the model were breast cancer incidence, volume of biopsies performed, and usage pattern of devices at a country level.
Primary and Key Opinion Leader (KOL) input
Extensive primary research was carried out to validate the analysis
Demand Side – Radiologists, oncologist and lab technicians in Tier 1 & 2 hospitals in all countries
Supply Side – Product Managers, VPs, Marketing managers, and distributors in all countries.
Business Recommendations
The Analysts gave business recommendations to directly have a positive impact on the business objectives, including:
  • Invest in key growing segments such as core needle biopsy devices
  • Driver, restrains and opportunities for the overall market
  • Focus on launching biopsy devices with higher accuracy, specificity and sensitivity
  • Focus in geographies with high growth potential such as US, Germany, and China.
Impact
The client invested in US, Germany, UK and China With all the business recommendation and information given the client is planning to launch the biopsy device
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Biopsy device
Breast Biopsy Device
Biopsy needle
Breast cancer
Core Needle device
Diagnosis
Breast Biopsy