Infiniti’s Product Marketing Strategy Helps a Leading Cardiac Pacemaker Manufacturer to Identify New Product Formulations & Modify Existing Product Promotion Strategy
Types of Cardiac Pacemakers Cardiac pacemaker devices are a vital class of cardiac devices that are used to regulate a patient’s heartbeat. The rapid technological progressions in the healthcare sector have resulted in the production of different types of cardiac pacemaker devices with new product formulations. This is a major factor that is responsible for […]READ MORE >>
Types of Cardiac Pacemakers
Cardiac pacemaker devices are a vital class of cardiac devices that are used to regulate a patient’s heartbeat. The rapid technological progressions in the healthcare sector have resulted in the production of different types of cardiac pacemaker devices with new product formulations. This is a major factor that is responsible for the steady growth of the global cardiac pacemaker devices market.
The different types of cardiac pacemakers include:
- Single-chamber cardiac pacemaker
- Dual-chamber cardiac pacemaker
- Bi-ventricular cardiac pacemaker
Moreover, the rise in cardiac disorders across emerging countries is another factor promoting the market’s growth. Ailments related to the heart have long been identified as a primary health consequence of the economically prosperous lifestyle led by consumers in developed regions. This has led to a rise in government initiatives and support for the development of better cardiac treatment devices, including the cardiac pacemaker.
The Business Challenge
The client– A leading medical devices manufacturer, specializing in manufacturing cardiac pacemaker
Objective– To help the cardiac pacemaker manufacturer identify and understand competitors, alternatives, and validate competitive advantages.
The client, a well-known cardiac pacemaker manufacturer, wanted to identify and analyze market trends to develop new product formulations and refine existing ones. The cardiac pacemaker manufacturer wanted to gain detailed insights into customers’ needs and preferences to ensure that the product is market-fit. Additionally, the client was looking at enhancing their marketing strategy to reach out to the end-users. The client also wanted a detailed report of the entry barriers, new opportunities, risks, and competition in the medical devices market.
Results– Identified new product formulations and modified existing products to suit customer needs and preferences.
The product marketing experts at Infiniti carried out extensive research comprising of interviews and discussions with leading stakeholders across the cardiac pacemaker devices market to help the client improve business efficiency. The experts at Infiniti further compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums to help the client understand the competitive scenario prevalent in the medical devices market.
The Solution and the Business Impact
Enhancing product marketing strategies helped the cardiac pacemaker manufacturer to identify potential areas to advertise and market their products. This engagement also enabled them to identify the product’s market potential and develop new formulations accordingly. Moreover, the product marketing solution offered by our experts helped the client in determining a scalable approach to discover new growth opportunities and to assess market trends. Also, the order increased by 37%.
Cardiac pacemakers have been around since the 1960’s and have increasingly become a cornerstone of treatment for sick sinus syndrome and complete heart block. However, fully self-contained leadless cardiac pacemakers, which are also MRI compatible will be the future of cardiac pacing. This also enables patients to avoid lead-related and pocket-related complications and infections.
Moreover, with today’s complicated market scenario, marketing strategies are no longer optional in the cardiac pacemaker market. A product marketing solution allows for cohesion between what you offer and what your customers want. An effective product marketing strategy will also enable you to align your teams and produce great content to drive sales.
Cardiac pacemaker market trends:
- Leadless cardiac pacemakers– The use of a leadless cardiac pacemaker prevents lead-related complications, which range from lead fracture to extraction challenges, as well as pocket-related complications such as infection and disfigurement. Also, these devices are compatible with MRI and do not require surgical placement; thus, helping patients to avoid postoperative mobility restrictions.
- Improvements in battery life– The improvements in the manufacturing techniques of cardiac pacemakers have resulted in the development of devices with improved battery life and functionality. Also, owing to the advances in integrated circuits and miniaturization of components, modern pacemakers are getting progressively smaller despite more complex operations. Similarly, battery technology has kept pace, resulting in safer and longer lasting devices.
- Programmability– Cardiac pacemakers were initially not programmable, and manufacturers pre-set the functioning parameters. However, with the advances in technology, the function of the programmability of pacemakers has also changed over time. Moreover, it is now possible to program them from outside the body using telemetry.
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