A development partner requires market research and due diligence on manufacturers of medical products
Introduction and project background
The outbreak of the COVID-19 pandemic, first originating in China and then spreading worldwide, resulted in a surge in demand for medical products, coupled with production shutdowns and logistical disruptions. Shortages of a wide range of medical supplies, including personal protective equipment (PPE), essential medicines, and medical devices, have posed significant risks to the health and well-being of citizens. Consequently, in response to the unprecedented demand and widespread bottlenecks, the United Nations (UN) launched a large-scale initiative across its various agencies to urgently and effectively assist countries in their response to COVID-19.
We provided support to the lead UN agency by helping to identify and assess manufacturers of health products and medical equipment needed for national COVID-19 responses. The client sought a vendor with knowledge and an expert network in the EU region, as well as robust market research and due diligence expertise, to promptly identify reputable suppliers for the immediate sourcing of essential health products meeting quality assurance specifications.
Performed research and analysis
We developed a comprehensive methodology and conducted a mapping of the private sector landscape to identify suppliers of priority medical products within multiple EU countries, China and Brazil. A large database of suppliers was established, integrating data from industry databases, leading industry associations, government agencies, and analyst reports. By engaging with public and private sector representatives, we developed a multifaceted outreach approach to initiate the due diligence process on behalf of the client.
Every manufacturer of healthcare products should undergo due diligence to safeguard patient health. Additionally, suppliers must meet specific financial and operational criteria to ensure seamless and uninterrupted product supply, mitigating potential risks. We outlined the due diligence process and conducted comprehensive analyses of every product and company. Our team spearheaded the collection of information and quality assurance documents from potential suppliers to complete due diligence and ensure product quality. We generated reports and analyses on suppliers and product availability, and established a document management system for all approached or contracted suppliers. Collaborating with the agency, we instituted a governance process to align our team efforts with the client's global team across various functions.
Throughout the project, we monitored country-specific and regional trends in the progression of the COVID-19 outbreak, as well as tracked policy responses and temporary trade measures enacted by government authorities in response to the pandemic. This proactive approach enabled us to guide our market research efforts effectively and develop tailored procurement strategies for the client
Why the client valued us
The client valued our expertise and deep understanding of global pharmaceutical and health product markets. Leveraging our extensive experience with WHO norms and standards for medical devices, as well as company financial, we ensured the swift delivery of due diligence for over fifty manufacturers across various regions and product categories.
