Case Study
Case Study: New Markets
- Market Analysis
- Business Intelligence
The Background:
China has transformed from an “innovation sponge” into a global leader in technology and research, annually investing over $200 billion in research and leading in patent applications globally. Despite its burgeoning innovation landscape, Western companies often struggle to penetrate the Chinese market due to regulatory complexities, cultural and business differences, market access restrictions, and concerns over intellectual property rights. These challenges hinder their ability to fully leverage China’s advanced innovation capabilities.
Client's Need
The client, a global healthcare company active in key segments such as analgesics and allergies, has a presence in China but lacks a dedicated on-ground innovation team. Recognizing China’s untapped potential and innovation prowess, they sought to deepen their market engagement specifically for their China-specific brands in consumer health categories. Their goals included:
- Understanding the local innovation ecosystem to enhance internal and joint development strategies.
- Identifying opportunities for transitioning prescription products to over-the-counter solutions.
- Leveraging insights to better navigate and exploit the Chinese market for healthcare products, focusing on areas requiring significant innovation like gastrointestinal and allergy relief.
IDYL's Approach
IDYL commenced with a thorough analysis of the Chinese healthcare market, identifying key consumer demographics driving demand for innovative healthcare solutions. We then selected and analysed the top 30 healthcare companies with a presence in China, considering factors such as turnover, R&D investment, and IP portfolios. Our investigation then proceeded to mapping each company’s innovation network, including academic collaborations, licensing deals and start-up engagements, to uncover prevailing trends and strategic partnerships.
IDYL's Solution
We delivered a comprehensive set of deliverables to inform and guide the client’s strategic decisions:
- Innovative Company Profiles: A detailed report containing a one-page snapshot of each of the 30 healthcare companies, outlining their innovation activities and collaboration networks.
- Innovation Partners Matrix: A visual, colour-coded graphic illustrating the innovation networks, highlighting key partners and the nature of their relationships.
- Strategic Recommendations: Tailored advice for enhancing the client’s innovation strategy in China, identifying potential partners such as CROs, incubators, accelerators, and academic institutions to facilitate growth and innovation within the targeted consumer health categories.
This strategic insight equipped the client with the necessary tools to expand their innovation footprint in China, leveraging local advancements and partnerships to enhance their product offerings and competitive positioning in the market.
Discover more
Sectors
IDYL excels in transforming sector-specific challenges into opportunities for innovation, setting new trends across diverse industries.
Learn MoreOur Company
IDYL harnesses decades of diverse industry expertise to drive your business's innovation and market success.
Read More