Over the years, the healthcare landscape has been characterized by the growth of relentless technologies in the form of applications and services. To bridge the demand-supply gap while offering specialized medical services, organizations have started leveraging the use of telemedicine to extend patient care in remote areas. Telemedicine involves the use of applications and services in the form of two-way video, email, smart phones, and wireless tools in healthcare institutions to deliver robust clinical care. Also, in case of the non-availability of an adequate number of resources, telemedicine can act as a catalyst in reducing the waiting list of patients requiring specialized healthcare.
To reach out to the niche market segments and target the right audience, leading organizations in the healthcare landscape have started relying on market intelligence studies to assess the penetration level of the telemedicine market. With years of expertise in carrying out similar market intelligence studies, Infiniti’s market intelligence experts helped the client reach out to the diseased aging population and deliver an agile and robust medical assistance. The engagement also helped the client curtail additional costs associated with patient treatment; thereby, maximizing the ROI.
The Business Challenge
A global telemedicine company with branches across leading countries was facing a predicament analyzing the market potential of their products in the telemedicine market. The primary objective of the client was to analyze the key competitors, their offerings, and make informed business decisions. The client further wanted to gain insights on the market landscape in terms of the product portfolios and further understand the patient engagement, along with the advances in technology.
The client further wanted to understand the landscape of the telemedicine market in terms of robust policy changes and reimbursement issues.
To penetrate across niche markets and enhance their offerings, the client approached Infiniti’s market intelligence experts. Infiniti’s market intelligence experts carried out extensive research comprising of interviews and discussions with leading stakeholders in the market. Also, to assess the potential of the telemedicine market, the experts also carried out research across a variety of proprietary sources such as healthcare newsletters, magazines, and hospitals.
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Market Intelligence Solution Benefits
- Monitor the health of patients from their home environment
- Identify the factors, rising prospective opportunities, and key companies instrumenting the growth of the telemedicine market
- Identify the key strategic players and effectively identify the target regions
- Assess the prevailing technologies and future technologies sustaining the market growth
- Effectively segment the market based on types and by end-users
Benefits of Our Integrated Approach
Infiniti’s market intelligence study assisted the client to understand the target segments and devise better healthcare services for the diseased population. The engagement also helped the client segment the telemedicine market in terms of type, technology, specialty areas, and others. Moreover, the telemedicine company was further able to identify potential markets and devise an effective go-to-market strategy.