In recent years, the relentless growth of technologies has brought about numerous innovations in the medical devices manufacturing space. Also, with the growing preference for better healthcare services among the populace, renowned medical implants manufacturers are poised to scale new heights. Furthermore, with the easy accessibility of healthcare services, consumers are looking out for promising healthcare solutions with better accuracy and lower costs. To shift toward service-oriented models and meet the rising demand for healthcare services across niche market segments, leading manufacturers in the medical implants space are facing the need for market opportunity assessments. Market opportunity assessments can help organizations to discover potential market opportunities and evaluate the unmet needs of the customers. Also, companies can efficiently monitor their competitive advantage and allocate adequate resources to meet the needs of the customers.
Infiniti’s market opportunity assessment helps companies analyze the business environment in terms of the legal and compliance issues, economic conditions, and trends. Moreover, companies can analyze the key competitors and create a new market profile to understand different product attributes and its effect on the customer’s decision-making process.
The Business Challenge
A renowned medical implants manufacturer with a considerable number of manufacturing units spread across the globe was facing certain predicaments profiling the target customers and setting sales projections. Moreover, the client wanted to describe key value propositions and gain a better outlook on the market. With the help of market opportunity assessment, the client wanted to identify the impact of new disruptive technologies on the market and find best possible ways to acquire potential customers. Through this engagement, the medical implants client wanted to address the vulnerabilities or limitations that can hinder the client’s growth.
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With the aim of identifying potential opportunities in the medical implants manufacturing space, Infiniti’s market opportunity assessment experts carried out extensive research comprising quantitative and qualitative research with the leading stakeholders in the medical implants manufacturing space. To discover better marketing practices, market opportunity experts also compiled information from a wide array of proprietary sources such as paid industry databases, company presentations, and industry forums.
Benefits of the Market Opportunity Assessment:
- Profiled potential customer segments and differentiated products and services
- Identified the unmet needs of the customers and discovered future opportunities
- Analyzed the strengths and weaknesses of the products and viewed different distribution channels
- Identified the disruptive technologies in the market and their impact on the business
- Established partner relationships and devised an effective go-to-market strategy
Benefits of Our Integrated Approach
With the help of the market opportunity assessment, the client was able to revamp the existing customer base and chase different customer segments. Moreover, the engagement also assisted the client to identify and address competitor threats and analyze potential market opportunities. Also, the engagement further helped the medical implants firm train their sales force to market their products effectively. The renowned medical implants manufacturer was further able to tap different market opportunities and gain better returns on their investment.