Speech Draft Based On PPT Slides – Essay Example
Diabetes Testing Device; Industry Analysis Diabetes Testing Device; Industry Analysis The firm intends to manufacture diabetes testing device. The devices will provide a competitive edge to the firm owing to its accuracy as well as its convenience. Currently, the Pharmaceutical manufacturing industry offers a wide range of pharmaceutical products. These include oncological products, biological products, respiratory agents, medicinal and botanical products, lipid regulators, antidiabetics, In-vitro diagnostic substances among other pharmaceutical preparations. The pharmaceutical preparations and biological products are the two key players in the pharmaceutical manufacturing segment occupying an estimated 42% and 19% respectively. Subsequently, the segments for the other range of products lies between 6 % and 7%. In particular, In-vitro diagnostic substances occupy approximately 6% of the total industry products, which implies that the market segment has a potential for growth. However, the market has numerous barriers including laws and regulations by the government and a strong variation in the demand for generic and brand-name pharmaceuticals.
Based on the search trend of Diabetic tests through Google, there is a slight growth in the trend from 2013 up to 2015. This signifies an increasing need for people to get access to diabetes testing devices that almost matches the market growth rate of 5.4% per annum. The product will, therefore, firmly aim to capitalize on this trend in its distribution.
Specifically, this search trend further indicates that the need for the diabetic testing device varies across major regions in the country. For instance, Phoenix tops the list in terms of regional interest with nearly 100 searches per day; Philadelphia has 83 searches; Dallas 79 searches; San Diego 75 searches; Atlanta 73 searches; Chicago 71 searches; Washington 68 searches. Overall, when searching for diabetics-related information, users search for four main keywords; Diabetic test strips, Diabetes mellitus, Diabetes Symptoms and Diabetes. In terms of the exact number of keyword searches per month, “diabetes” yields nearly 1,220,000 searches a month; “diabetes symptoms” has 301,000 searches; “Diabetes mellitus” has 246,000; whereas “"diabetic test strips” has 60,500 searches. The firm will regulate its production and distribution based on this data with regions having the highest number of searches per day being the largest target market.