Cases - Business

Using a shotgun to drive customers to your website, might be a bit over the top!

What I’m talking abo

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ut is the shot gun splatter approach to analyzing your market.

I recently saw a video that demonstrat

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

d this technique to me and I found it very useful, but a little difficult to understand using the shot

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

gun analogy.

So here’s a way analyzing your market that I feel more comfortable with.

Look at your

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

arget market as a commercial eco system. Everything is related and in some way reliant on each other

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

n one way or another.

For example: If I am assessing wether to get into the English Language educatio

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

n market. I should look at the eco system surrounding the particular environment.

I could look at the

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

teachers, who need students, the students who need books, the teachers who need books, the book manufa

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

cturers who need teachers and students, the book manufacturers, students’, and teachers who need stati

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

nary.

You get the picture? When assessing a market we should always look for other related products a

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

d services that would interest people in the particular market we are assessing.

Sometimes we’ll noti

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ce an overlap this is good because it can allow us to expand across the different markets and eventual

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

y break into completely different markets all together. We can do this relatively easily because when

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

we advertise to our existing clients we can also advertise other products and services that they might

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

be interested in or someone they know, (like teachers who know book manufacturers) might be interested

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

in. This will give us income from a variety of different sources so that if one of them “dries” up, w

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

e can continue on with the income from the other markets we have established ourselves in.

So to summ

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

rize, it’s important to look at your potential markets in regards to how they can be expanded and deve

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

loped into other allied markets.

This is a great way to help secure a long term income using the powe

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

of the internet and some planning strategies.

I sincerely wish you good luck and happiness

Bill Boy

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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