Market and competitor deep dive into the global digital diabetes service market for a pharmaceutical company

Project Background:

One of the top global diabetes service providers approached R2G to conduct a market and competitor analysis of the digital service market targeting more than 400M people with diabetes globally. The company wanted to find out:
• How big the market for digital services including premium content, coaching, connected devices and technology licensing currently is and will be in the next years
• Which regions and countries offer the best market conditions for launching digital diabetes service offerings
• Which are the main competitors in each region
• What is the service offering and performance of the main competitors and what is their perceived strategy
• What is their own market positioning and how can they improve it

What we did:

The thorough digital diabetes market research was divided into two workstreams: competitors’ insights and global diabetes app market screening.

Competitors’ Insights: The in-depth diabetes digital solutions market research uncovered global key market players, their diabetes app portfolios, product pipelines and key performance figures. We reviewed and analysed competitors’ diabetes app strategies, strategic partnerships and revenue streams. The goal was to draw attention to top market players’ strengths and weaknesses and show the market opportunities and strategies that will help our client stay ahead and distinguish even further its diabetes solution offering.

Diabetes App Market Screening: This workstream evaluated top 10 diabetes app service providers within each of the region. The team of two consultants analysed their service portfolios and its performance in the market. For each of the competitors the team developed a detailed profile evaluating current performance, revenue streams, key strength and challenges as well as expected further developments of their service offering.

Results have been presented and discussed in a series of workshops with an extended team of decision makers and digital team members from the client side.

R2G engaged 3-4 consultants on the project. The project time-frame was 5 months.

Results:

Based on the results of the market and competitor deep dive, the company was able to adjust their market entry strategy for their own digital service offerings addressing people with diabetes. The company has also decided to execute the deep dives on a yearly basis to be able to see changes of the market and the impact of their strategic and tactical moves on their market position.