CASE STUDIES

Identifying Market Opportunities and Adapting to Change in the Telemedicine Market

Jan 11, 2021

Telemedicine Market Overview

Technology and medicine are the most rapidly evolving fields globally, and with advancement, they bring about significant change. As the two fields grow, they become increasingly intertwined. Medical devices, diagnostic devices, cloud-based electronic health records (EHR), and digital consultation platforms are some of the examples of technology and healthcare working together. Since widespread digitization has become essential across industries, the healthcare industry has witnessed various market opportunities and expanded to include various digital platforms, leading to the development of telemedicine. Telemedicine services include offering consultations, guidance, support, information, reminders, and other medical services over online platforms, such as mobile applications or websites. Although these services have been offered for decades, recent advancements have created the need for market opportunity analysis and propelled substantial growth.

The inevitable incorporation of digitization in healthcare has propelled the industry forward and created a crucial niche market. Request a free proposal to learn how your business can capitalize on opportunities in the telemedicine market with Infiniti’s market opportunity analysis.

Market Opportunity Engagement Overview

As consumers become increasingly dependent on, and comfortable with, technology, mobile devices, and internet services, the market continues to grow. In a rapidly evolving and highly competitive market like the telemedicine market, understanding various dynamics, identifying profitable opportunities, ensuring market readiness for all offerings, and staying ahead of the curve is imperative. Therefore, telemedicine market leaders are leveraging market opportunity analysis solutions for clarity regarding barriers to entry, ideal distribution channels, competitors, and other market dynamics.

Business Challenges:

The client is a telemedicine services provider based out of Europe, that provides consultations, prescriptions, and advice for various non-emergency medical issues. The service provider sought to launch a new set of features to accommodate for the COVID-19 pandemic, including audio and video-based conferencing, and remote scheduling features for physicians. However, the company wanted a detailed report of competitors with similar strategies, consumers’ needs and demands, market readiness for these features, and significant profitable market opportunities to help their business grow. Therefore, the telemedicine market player sought to leverage Infiniti’s market opportunity analysis solutions and gain unparalleled clarity into the European telemedicine market.

Telemedicine services have become increasingly important during the COVID-19 pandemic, and ensuring your offerings meet consumers’ needs is crucial. Speak with our experts and learn how you can differentiate and improve your new offerings with market opportunity analysis.

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