Commercial story: Components of Market access analytics - Strategy & regulatory (Story: CA 11/13 - Read other posts in the series by visiting the 'All Posts' section)

Commercial story: Components of Market access analytics - Strategy & regulatory (Story: CA 11/13 - Read other posts in the series by visiting the 'All Posts' section)

The key aspects of strategy & regulatory are: 

1. Market segmentation involves dividing the market into distinct groups based on characteristics such as demographics, psychographics, behavior, and geography

2. New Market Entry Strategy: Entering new markets requires a strategic approach to ensure success. Key strategies include:

> Partnering with Local Entities: Collaborating with local pharmaceutical companies or distributors to navigate regulatory and market dynamics.

> Understanding Market Needs: Conducting thorough market research to identify unmet needs and tailor products accordingly.

> Pricing and Contracting: Establishing competitive pricing strategies and negotiating favorable terms with payers.

2. Regulatory compliance is crucial for market access. It involves adhering to laws, guidelines, and standards set by regulatory bodies such as the FDA, EMA, and other regional authorities. Key aspects include:

> Good Manufacturing Practices (GMP): Ensuring high-quality production standards to prevent contamination and ensure product consistency.

> Clinical Trials: Conducting rigorous clinical trials to demonstrate safety and efficacy.

> Post-Market Surveillance: Monitoring drug safety through adverse event reporting and periodic reviews

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