In the recent years, the healthcare industry has restructured its service delivery system to survive in the maturing state of the industry. Also, with the commitment to provide quality services, the healthcare industry is witnessing relentless growth in innovations to diagnose diseases and offer adequate treatments to the patients. Furthermore, with the gradual shift toward a customer-oriented environment, fluid management devices manufacturers are facing the need to deliver intensive medical treatment and personal care while curtailing the costs. Also, to profile the target segments and deliver utmost patient satisfaction, renowned fluid management devices manufacturers are utilizing market intelligence studies. Market intelligence helps companies gather relevant information on the markets and analyze these information to drive accurate and confident decision-making. With the help of a market intelligence study, fluid management devices manufacturers can determine potential market opportunities and design a more defined penetration strategy to improve the current business model.
To gain broader insights into the company’s existing market, leading fluid management devices manufacturers are approaching companies like Infiniti Research. Infiniti’s market intelligence solution helps companies gain a comprehensive view of the market landscape in terms of the customers and product lines. In addition, Infiniti’s market intelligence solution also suggests effective ways for the companies in the medical devices space to devote more resources and enhance their business outcome.
The Business Challenge
A renowned fluid management devices manufacturer with a considerable number of manufacturing units spread across the globe was facing certain predicaments determining relevant market opportunities and tapping into niche market segments. The client wanted to outline the demand for products and services rendered and the most efficient means of introducing products and services to the market. Furthermore, with the help of this market intelligence engagement, the fluid management devices manufacturer wanted to effectively keep track of the competition and identify the competitors’ capabilities, liabilities, and long-term intentions in the Latin American market.
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To add value to the business using market intelligence, Infiniti’s market intelligence experts carried out extensive qualitative and quantitative research methodology with leading stakeholders in the fluid management devices space. Also, to outline the demand for products and services, Infiniti’s market intelligence experts collated information from proprietary sources such as paid industry databases, company presentations, and newsletters.
Benefits of the Market Intelligence Solution:
- Minimized the risk of investments and made informed business decisions
- Kept ahead of the competitors and maintained a distinctive identity
- Effectively tailored products and services based on the customers’ requirements
- Identified the potential buyers and devised effective ways to get the products and services to the market
- Identified the competitors, the market trends, and industry legislation and identified market entry opportunities
Benefits of Our Integrated Approach
The market intelligence solution offered by Infiniti helped the fluid management devices manufacturer to stay ahead of the competition and gain a strong foothold in the market. The market intelligence engagement also assisted the client in developing customized products to distinguish the brand from their competitors. Moreover, with the help of this engagement, the client was able to identify the process gaps and devise effective plans to enter the Latin American market.