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Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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EMEA Thought Leadership
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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Finding and understanding the voice of the customer in MedTech
Following a series of acquisitions and product developments, a leading process chromatography technologies company needed to better understand how customers viewed the newly expanded business and portfolio. IQVIA MedTech’s comprehensive Voice of Customer (VoC) capabilities were called in to help.
Feb 25, 2025
In the competitive world of MedTech, understanding your customers’ needs is crucial. Recently, a leading company in process chromatography technologies embarked on a journey to uncover valuable insights that would refine their market positioning. This journey was supported by IQVIA MedTech through a comprehensive Voice of Customer (VoC) project.
The Challenge
The client's chromatography portfolio had expanded through acquisitions and product developments and they found themselves with a need to better understand their new market position, identify strengths, weaknesses, and opportunities. This required a deep dive into the market landscape and customer needs, led by IQVIA MedTech.
The Approach
Mapping the Landscape: The project began by identifying seven key modalities, including recombinant proteins, peptides, antibodies, and viral vectors across North America, Europe, and APAC. The team clustered target products and defined direct competitors for each group.
Gathering Insights: A total of 32 interviews were conducted with field experts in upstream and downstream protein purification technologies. These interviews provided insights into the technologies used, benchmarking practices, and the needs of both customers and non-customers.
Anastasia Chernyatina, a senior consultant at IQVIA MedTech, emphasized the importance of stakeholder diversity and technical depth in these interviews. "We had to balance conflicting needs,” she explained, “such as breadth of the topics covered versus in-depth understanding of each aspect, and navigate regulatory constraints and technical jargon."
Applying the Data: The gathered data was applied to the company's portfolio, highlighting where their products stood against competitors and what technologies were used for each modality. This structured knowledge enabled them to understand their market positioning and make informed decisions about their portfolio.
Key Benefits and Results
Tailored Data Collection: The team used a tailored data collection strategy to gather detailed feedback from a diverse range of stakeholders. This approach ensured that the data collected was relevant and actionable, addressing the unique needs of each VoC project.
Balancing Stakeholder Needs: The experience in primary market research and analytical skills helped navigate conflicting needs in a timely and cost-efficient manner. Engaging stakeholders early and continuously ensured that all perspectives were considered.
Global Market Adaptation: The VoC projects were tailored to the global market, considering regional differences and guidelines. This adaptability was key to addressing the diverse needs of the client's global customer base.
Structured Approach: The methodical process, from clustering products to regular expert consultations, ensured critical points were identified and addressed. This structured approach saved time and budget for the client.
Expertise and Collaboration: The technical expertise and close collaboration with the client maximized the project's value, fostering trust and transparency. "Our early and continuous stakeholder engagement was crucial," Anastasia noted. "We had regular calls with the technical teams to ensure we were aligned and addressing the right issues."
Conclusion
This collaboration highlights the importance of understanding customer needs and the value of a structured, expert-led approach. By providing actionable insights and strategic advantages, the project enabled the client to navigate the complexities of the market effectively. The outcomes of this work underscore the significance of partnering with experts who can guide you through the intricacies of the MedTech landscape.
If you would like to explore the voice of your customer and better understand where you sit in today’s MedTech market hit the Contact Us button now.