When the senior international business development manager for a publicly traded pharmaceutical group asked me if I knew of any countries which were outpacing the U.S. in healthcare technologies, I hesitated for a while. I just completed a think tank’s market analysis describing in detail different healthcare tech sectors, their potential growth internationally, and how each segment will change. This pharmaceutical manager had inquired about the Total Addressable Market (TAM) in order to implement her strategic plan.
Then it occurred to me that there should market studies for each and every industry, and some are fairly sophisticated enough to guide the investment process for investors or business development managers. And this specific study confirms what I told an eCommerce CEO about the major weakness of his business plan from omitting a TAM study. He claimed that those studies for his market did not exist. Yet these studies help write a business plan, set the metrics for potential markets, or confirm the understanding of the marketplace. No one can write a pitchdeck or a business plan without having a quality third party source for the TAM opportunity. And this eCommerce CEO left that crucial information out.
Returning to the pharmaceutical manager, I did relate to her that other countries will soon catch to the U.S. in the medical applications for nano-technologies as concluded by the study. Nano labs can be small and cost effective, making them financially attractive for smaller laboratories and countries with limited budgets. Besides nano-technologies, the study did review everything from pharmaceuticals to lasers to prosthesis. After sifting through that study, I concluded that one can find studies on any topic, including eCommerce.