What the Client Wanted
Leverage real world evidence analytics to discover new opportunities and drive value by enhancing their product offerings.
This real world evidence analytics engagement involved the implementation of enhanced strategies to identify and tackle the hard-hitting aspects of the healthcare industry, especially the iron supplements manufacturing segment. A comprehensive real world evidence-based research helped the client to determine the effectiveness of the drug and identify different target groups based on diverse contexts.
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Overview of the Iron Supplements Market
Today, there are a variety of iron supplements available in the market. They are sold under a wide range of brands and are based on twenty different derivatives of iron. Ferric sulphate is one the most widely used compound; whereas, ferric citrate is also gaining popularity as it is easily absorbed by the body.
However, a major challenge for iron supplements manufacturing firms revolves around the development of drug formulations that don’t infringe on patents. In an effort to evade such challenges, companies are increasingly focusing on leveraging analytics solutions and real world data to withstand the growing competitive pressure.
Iron Supplements Market Challenges
- Changing consumer demands: Leading manufacturers of supplements are currently focusing on enhancing their drug formulations to cater to the growing demands of the consumers. This is a major challenge for manufacturers of iron supplements as they are under constant pressure to redefine their manufacturing processes to develop innovative products.
- Targeting the right consumer groups: Identifying and targeting the core demographic segment is important for achieving long-term success. Therefore, it is essential for supplement manufacturers to identify the right target groups and the products that appeal to them the most in order to develop, manufacture, and market the supplements.
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About the Client
A leading iron supplements manufacturing company.
To enhance their product offerings and drive value by discovering new opportunities for drug enhancement, the client – a leading iron supplements manufacturer – approached Quantzig. They wanted to leverage Quantzig’s real world evidence analytics to their advantage and gain detailed insights to boost business growth through the enhancement of their product offerings. The client was facing major challenges arising due to their inability to leverage real world data and devise effective strategies to enhance outcomes.
Benefits of our real world evidence analytics engagement
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With the help of Quantzig’s real world evidence analytics solution, the iron supplements manufacturing client was able to devise effective strategies to identify and tackle the key aspects affecting market growth. Also, it helped them enhance the effectiveness of their drug formulations by transforming the manufacturing process.
Real World Evidence Analytics Solution Insights
As the healthcare industry continues to mature, the iron supplements manufacturing segment is expected to witness a raft of new opportunities and challenges. Real world evidence analytics is the key to enhance patient outcomes and improve drug formulations.