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Consultant - Strategic Analysis of Diagnostics Market & Consumer Behavior (North India)

  • Full Time
  •  On-Site - Mumbai / Navi Mumbai
  • 2 months
  • Project posted on: 11/07/2024

Consultant - Strategic Analysis of Diagnostics Market & Consumer Behavior (North India)

  • Strategy and Business Development
  • Strategy development
  • Business planning processes
  • Corporate Strategy

On-Site - Mumbai / Navi Mumbai

Full Time

2 months


Assignment Details

Commercial DD scope-
The scope of work for the proposed engagement is as follows:
A. Assessing attractiveness of the lab and imaging diagnostics space in 5 selected cities in North
B. Commercial diligence of the Target business plan.
C. Understanding consumer behavior with respect to purchase of diagnostics services and practices
prevalent in the selected markets, along with survey of quality of services provided by Target.
Detailed scope of work for each module is outlined below:
A. Assessing attractiveness of the lab and imaging diagnostics space in 5 selected cities in North India
Key elements of work include:
1. Demand Assessment for routine lab and imaging diagnostics space in the selected cities:
Key elements will include
i. Overall size of the out of hospital lab diagnostics market; growth rates witnessed in the past
and drivers of this growth
ii. Size of various segments within the same – imaging – by modality (PETCT, CT, MRI, X-Ray,
Ultrasounds etc.), lab diagnostics (pathology, microbiology, hematology etc.)
iii. Growth rate of the market and key drivers for the same
iv. Potential size of the market – for the relevant population; to be estimated using
utilization rates per 1,000 people, typical payout by patients per test etc.

2. Understanding industry structure - quantum and quality of supply
This module includes mapping industry structure and supply in the selected cities where the Target has
presence - across National players, well established large regional and local players, stand-alone small
1. Key players and details of their network – main center, main lab, collection centers, satellite
centers etc.
a. Quality of the network, geographic spread, modalities offered across centers
b. Owned versus franchised network
2. Volume of work undertaken for both lab and imaging diagnostics and sources of the same – for
a few specific centers in the geographies that the Target has presence in
a. Walk in patients
b. Referrals by GPs/ specialists (key contributors)
c. Referrals from hospitals / polyclinics
d. Lab samples collected from smaller labs
e. Online aggregators / digital channels

3. Pricing – to be compared for 20-25 key investigations / imaging modalities
4. Drivers of volume
a. Partnerships with poly clinics, doctors, hospitals, other smaller labs etc.
b. Referral incentives if any offered; mode of payment – how is this different for imaging
versus lab diagnostics
c. Marketing / awareness activities undertaken
d. Tie ups if any
5. Perception of players amongst referring consultants and consumers
6. Financial performance of key players (where available in the public domain)
3. Competition benchmarking of Target vis-a-vis the Industry players in the whole region- shall
covers targets market presence, its perception, service prices etc

B. Commercial diligence of the Target business plan
The objective of this module is to undertake commercial diligence on the Target and recommend a Go-
No Go decision to the Client. Key elements of work include:
a. Understanding business model of the Target
i. Services offered (product mix) – key focus segments for lab and imaging diagnostics
ii. Referral lab available (key equipment, technology), key imaging equipment available in the
main center; network size and distribution
iii. Model of engagement with customers, consumers and referral labs
iv. Model of engagement within hospitals (billing/revenue share/cost allocation)
v. Engagement model with key professionals – lab personnel
vi. Positioning – pricing, target segment, positioning with respect to competition
vii. Growth and expansion plan – new locations, new services, export potential
b. Assessing performance of the Target
i. Volume of work being undertaken
ii. Mix of high end and “routine” investigations; volume of work undertaken in key imaging
iii. Financial evaluation (over the last 3-5 years; to be undertaken at a center level)
1. Revenue build up
2. Operating costs
3. Corporate team costs

5. Capital expenditure
6. Acquisition / partnership costs
7. Working capital requirements
iv. Perception amongst referring consultants, consumers and partners
c. Validate the business plan of the Target and make a base case adjusting the Target assumptions with
the assumptions seems realistic to the advisor.
d. Assessing Management Capability and Capacity
i. Current capability – operational, research, project management, marketing, partnerships
ii. New addition required for and post expansion; current gaps in bandwidth available
iii. Process compliance
e. Key risks and challenges
C. Understanding customer behavior and market practices
The objective of this module is to understand prevalent market practices and customer buying
behaviour. The same would include the following:
a. Market Practices:
1. Share of B2B versus B2C business for key players in the lab diagnostics space – and the drivers of
the same
2. For B2C business
a. Share of B2C revenue in the overall revenue
b. Drivers of B2C business – collection center network, advertising – digital and offline,
campaigns, packages offered etc.

3. For B2B business
a. Types of B2B partnerships – doctor practices, small labs, others
b. % of discount offered to the above
c. Mechanism of sample collection – by owned collection centers, by franchisees, others
d. Share of revenue by channel
b. Understanding Consumer Behaviour
4. Understanding referring consultant behavior
a. Quantum and quality of referrals
b. Key drivers of choice of player to whom samples are referred
c. Terms of engagement – payouts, mode of payment, other services offered
d. Importance of NABL/ other accreditation while referring patients

e. Perception of key players – quality, TAT, pricing, service, others
5. Understanding behavior of smaller labs which are customers for the Target
a. Drivers of choice of lab for sending samples
b. Discounts offered by players
c. Others terms of association – collection model, TAT, service, any other
d. Perception of key players – quality, TAT, pricing, service, others
6. Understanding behavior of consumers
a. Frequency of usage
b. Drivers of choice for a lab / imaging center – is there a difference between labs and
c. Preferred labs and imaging centers and Perception of key labs / imaging centers in the
d. What drives awareness of labs and imaging centers
e. Price sensitivity amongst consumers
f. Key expectations from labs and imaging centers
g. Importance of NABL / other accreditation as a key factor driving choice
c. Survey of quality of services provided by Target- shall cover feedback from customers
(individuals, corporates), Hospitals, Doctors etc.

Skills Required

- Prior experience in market analysis
- deep understanding of consumer behaviour
- Prior experience in strategy making

About the Client

A Consulting Firm


Professional Services - Consulting

Minimum Experience:

14+ years

Additional Skills:

  • consumer behaviour
  • strategy
  • market diagnosis

No of open positions:


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