The recent improvements and technological advancements in the healthcare industry are dramatically increasing the life expectancy and the quality of life of the general populace. Faster scanning, better image quality, and lower cost of ownership are few of the many reasons manufacturers opt for digital radiography systems. Due to the rise in the population of elderly and increase in number of road accidents and casualties, healthcare industry is steadily adopting digital radiography systems. However, this progress has also left radiography system manufacturers looking to enter this dynamic market space with unnerving economic challenges.
Manufacturers in the digital radiography market find it difficult to identify the right medical device reimbursement pathway in the current scenario. Getting the right coverage for the digital radiography system is a daunting task for manufacturers. Moreover, there are enough limitations placed on the growth of digital radiography market by the existing regulatory procedures. These eminent factors in the radiography industry may hamper the growth prospects of healthcare companies in the longer run.
Infiniti’s team of experts have contrived effective market entry solutions with the help of market intelligence study. Our team of research specialists work closely with device engineers and medical device manufacturers to meet the specific needs of our client. We substantiate recent developments and innovations in the digital radiography market through secondary journals and reach out to relevant stakeholders to understand their views on the current and future market scenario.
The Business Challenge
To develop an effective entry level solution for floor mounted digital radiography systems market, the client – a global manufacturer of diagnostic products, medical imaging systems, and surgical products – approached Infiniti to engage in a market intelligence study that helped the client assess the potential of digital radiography systems market in the US. The scope of this market intelligence study was to understand the market potential and attractiveness for entry level floor mounted radiography systems for the US market.
The primary objective of this market intelligence engagement was to help the client gain clear insights on the market landscape, marketing strategies of its competitors, and major customer segments for floor mounted radiography systems for the target region. This market intelligence assessment also decoded the screening criteria/market definition for entry level radiography systems.
Infiniti’s market intelligence team engaged in interviews with various key stakeholders, responsible for the sales and distribution of digital radiography systems, to understand how the market would grow in the short and long term and to validate the market size and market opportunity study developed for this segment.
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Solution Offered and Impact
By following a blended approach of acquiring information from primary and secondary sources such as annual reports, paid industry databases, media platforms, and research reports, our market intelligence experts devised effective entry level strategies for floor mounted digital radiography systems for the client. Moreover, our research specialists also offered insights into current market segmentations and assessed the trends in the floor mounted radiography systems market.
To assess and address the challenges specific to digital radiography industry, our market intelligence team engaged with industry experts and developed modeling methods needed to forecast the market’s growth. Also, an exclusive project management team with considerable experience was deployed to perform market intelligence studies specific to the radiography systems, medical imaging, medical devices, and allied industry segments.
Towards the end of the market intelligence study, the client – a global manufacturer and supplier of diagnostic products, gained actionable insights on the market landscape, market size, major trends, distribution channels, market prices, competitors and their products, and major customer segments for floor mounted radiography systems.
Benefits of Our Integrated Market Intelligence Approach
In merely five weeks, our market intelligence study helped the client gain numerous benefits in terms of identifying the key product segments and understanding the growth strategies that are followed by the market leaders. Also, this research engagement helped the client learn about the emerging product and service requirements for entry level floor mounted radiography systems. Additionally, our solutions also assisted the client in identifying the dealer and distribution structure for floor mounted radiography systems.
Here are some of the key points appreciated by our clients:
- Dedicated Market Intelligence Portal. A centralized market intelligence platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Interactive Dashboard. Using our portal-based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read market intelligence case study for strategy experts and decision makers looking to develop effective market entry strategies for their medical devices.