PACE Product Strategy Grows Market Share for a Drug Delivery Device Company

Topics:
Pharmeceuticals
Tags:
Management,
PRTM,
Strategy
Source:
PRTM

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Overview: This division of a large multinational medical device company had a very high market share (greater than 75%) of the worldwide market for its drug delivery devices. The division was facing a major challenge from pharmaceutical companies as they began to develop and market products themselves that integrated their devices with drugs. PRTM guided the implementation of the PACE (Product and Cycle-time Excellence) product strategy process, establishing three product strategy teams and a Strategic Product Approval Committee (SPAC). This dramatically altered their product strategy and initiated feasibility studies for new types of development projects aimed at redistributing the value chain in their favor.

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