According to statistics, currently over 190 million patients are suffering from chronic renal failure and undergo renal dialysis around the world. Rising occurrence of chronic renal diseases, expanding geriatric population, rapid technological advances in the medical devices sector, and increased spending on healthcare in emerging economies are some of the key factors favoring market growth. Urology has been at the forefront of adopting novel medical technologies, such as minimally invasive surgery and robotic surgery, to improve patient outcomes. Although, demographics and the growing prevalence of age-related diseases appear to support continued, even substantial market gains, urology devices suppliers are reasonably concerned about the timing and magnitude of market recovery as competition intensifies for increasingly scarce health care funds. With years of experience in market research, the research experts at Infiniti offer strategic insights into the market landscape of medical devices used in urology, in terms of market size estimation, competitive landscape, and the market segment analysis.
The Business Challenge
A leading multinational developer and manufacturer of medical devices was facing challenges understanding the market for medical products/medical devices being used in procedures specific to urinary incontinence, urological disease, femoral hernia, incisional ventral hernia, inguinal hernia, and umbilical ventral hernia across the target regions.
Our Research Methodology
To derive strategic insights into the medical devices market, our research experts carried out extensive primary research comprising of interviews and discussions with key stakeholders and business executives. As a part of the secondary research, the experts also collated information from proprietary databases such as government reports, company publications, and industry forums.
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Our Solution Helped the Client
- Gain insights into the market landscape in terms of key metrics for each disease, procedure, and product category
- Develop a robust and defendable prototype market sizing model
- Obtain qualitative and quantitative insights on the leading products and services used in urology procedures
Benefits of Our Integrated Approach
In a span of 14 weeks, the medical devices client gained a holistic view of the market landscape in terms of the procedures and disease type. The engagement also provided actionable market insights on specific medical devices used for a wide array of urology procedures.
Here are some of the key points appreciated by our clients
- Dedicated Consumer Research Assessment Portal. A centralized 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.
- Database Access. Access to a patient database containing information about 60+ medical diseases and conditions, such as patients undergoing treatment, untreated patients, and patients with chronic conditions.
- 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 competitive intelligence case study for strategy experts and decision makers looking to understand the landscape for medical devices used in urology.