Employing experts who combine their expertise in industry analysis with advanced tools, we, at Infiniti Research, offer life science market research services that will help businesses in the life sciences industry optimize their operations, identify new opportunities for growth, and achieve operational excellence.
With global resources and a complete understanding of our clients’ business operations, we help enterprises in various life science market segments realize shifts in customer preferences and identify the most valuable customer segments and make informed decisions that will help them achieve sustainability, improve their operational efficiency, and increase profit margins by reducing their operational costs. Our life science market intelligence reports also help clients stay informed about technological innovations and regulatory changes across various geographical regions.
In addition to assisting clients in understanding the traits shaping the growth of the industry, our market intelligence reports on the global life science market also identify emerging competitors and suggests techniques to gain a competitive advantage. Identifying the most profitable market segments that offer maximum growth opportunities we also aid clients in organizing their sales and marketing efforts.
Effective analysis of health economics data to help companies in the medical devices sector explore future growth opportunities and maximize ROIs.
What is the exact value of human life? This is one of the most fraught questions in public policy as governments across the globe struggle with rising healthcare costs from aging populations. The answer matters not only to patients, taxpayers, and insurers but also to the pharmaceutical manufacturers seeking rewards for the medical advances that have helped double life expectancy globally in the past century. In view of this conundrum, healthcare companies across the globe have started focusing more on health economics data analysis to explore future growth opportunities and maximize ROIs.
Health economics is the connection between health and the resources needed to promote or safeguard it. By resources, we just don’t mean money, but also people, materials and time, which could have been used in other ways. Though our healthcare needs as a population are unlimited, it must be noted that the resources required to satisfy them are not. As a result, healthcare choices have to be made about which needs are the most important and how to manage healthcare requirements with the limited resources.
At Infiniti, our “Healthcare Economics” team understands that the recent scarcity of healthcare resources, therapeutic, diagnostic, and preventive procedures must no longer be analyzed purely in terms of their efficacy but also regarding their cost-effectiveness – the ratio between the resources used and the related effects. This is done with the help of effective health economics data evaluation studies. If health economics data evaluations are to serve as a direct aid in decision-making, prerequisites like the implementation of an effective methodology and transparency will become extremely necessary in the near future.
The Business Challenge
With an eye on exploring future growth opportunities, a leading global company in human diagnostic imaging and laboratory diagnostics approached Infiniti to develop an effective health economics database with country-specific clinical, operational, and financial data sets. The development of such a database would help the client leverage the information gathered to create new ROI calculations and business cases for their product offerings.
The primary objective of this engagement was to offer the client country-specific clinical, operational, and financial data on COF Business Cases, ROI Calculators, and COF Wiki KPI’s. Infiniti’s health economics data evaluation team tracked recent developments and innovations in the market through secondary journals and reached out to relevant stakeholders, including industry experts, KOLs, product users, and procurement experts to understand their views on the market. Our health economics team also spoke to prominent stakeholders responsible for the sales and distribution of these products to understand how the market would grow in short and long term and also to validate the market size and opportunity model developed for this segment.
Solution Offered and Business Impact
By evaluating country-specific clinical, operational, and financial data on COF business cases, ROI calculators, and COF wiki KPI’s, Infiniti’s health economics data evaluation team helped the client leverage the information gathered to create new ROI calculations and business cases for their products. The market intelligence study also focused on calculating KPIs from ROI calculators across regions like the US, China, Brazil, and Japan. Additionally, an analysis of the COF wiki KPI’s to understand the clinical statistics pertaining to the incidence and prevalence rates of diseases like breast cancer, prostate cancer, structural heart diseases, stroke, traumatic brain injury, etc. was also carried out to help the client gain strategic insights into the dynamic demand-supply analysis specific to the market.
In just eight weeks, the client – a leading global company in human diagnostic imaging and laboratory diagnostics – was able to leverage the information gathered for COF business cases, ROI calculators, and COF wiki KPI’s to understand the acceptance of their products across the US, China, Brazil, and Japan.
To assess challenges specific to healthcare data economics, Infiniti’s healthcare research team have developed an extensive proprietary database consisting of information on more than two million industry experts, doctors, physicians, key opinion leaders, medical technicians, payers, end-users, and patients.