Since you are specific on Pharma focused consulting :
1 You need to map all Pharma companies in your traget locations
2 Map your strengths on consulting areas- like GMP, R&D , Sales and Marketing or Just Marketing ?
3 Do you have certifications in any of them or deeper expertise? if not can you hire those expertise.
4 Do you have expertise in international or specific country market.

Doing a SWOT analysis will support your decision :
Stregths
Weaknesses
Opportunities
Threats.
I think you should start writing your thoughts, discuss them with experts and create a strategic plan.

Experience:
Certified Financial Modeling & Valuation Analyst (FMVA) with 15+ years in financial strategy, risk management, and business structuring. Founder of AUROCKS Finance, advising startups on market entry, cost modeling, and regulatory setup.

Answer:
Starting a consulting and market-research company in pharma is absolutely doable, but your biggest challenges will be credibility, specialization, and compliance.

The below specifics are estimates for the US-market and differ in other markets.

From a cost perspective, plan around:
• Initial setup: $5K–$20K for incorporation, accounting, website, and branding (depending on your region).
• Compliance & data protection: $2K–$10K for GDPR/ISO documentation and client-data security — critical in pharma research.
• Tools & data access: Expect recurring costs for databases (IQVIA, PubMed, Statista, etc.) and survey software — typically $500–$2,000/month.
• Marketing & credibility: Building authority (white papers, LinkedIn outreach, partnerships) usually takes 3–6 months and $2K–$5K in spend before conversion.

Main concerns:
1. Establishing domain authority — clients in pharma only trust specialists with traceable expertise.
2. Ensuring data compliance and confidentiality.
3. Avoiding underpricing — pharma clients expect high quality and are skeptical of “cheap” consultants.

If you’d like, I can outline a lean cost-structure and positioning strategy based on your focus area and location (e.g. market access, clinical research, or go-to-market analysis).