The recent market assessment study by Infiniti Research on cardiac rhythm monitoring and management devices provides actionable insights on the medical device landscape and how to increase market shares by leveraging competitor analysis and pricing analytics.
Medical device manufacturing industry – overview
The medical device manufacturers, across the globe, are witnessing growth opportunities owing to the rising importance and usage of medical devices and surgical equipment in the modern healthcare market. Medical device manufacturers have shifted their focus from transaction based selling to creation of value for providers, payers, and patients. The medical device manufacturing companies are also producing cost effective, innovative and high-quality medical devices and surgical equipment to increase their market shares. According to recent studies, the adoption of cardiac rhythm monitoring and management devices is set to grow with the increasing aging population, rising health concerns, prevalence of cardiac diseases, escalating medical costs, and increasing preference for home care treatments. Additionally, government and regulatory authority are also focusing on improving the healthcare infrastructure; thereby, resulting in the increasing demand for medical tools, imaging devices, patient monitoring equipment, and systems. As a result, it is imperative for medical device manufacturers to identify and analyze the market challenges and drivers to gain a competitive edge over the market players in the region. Infiniti’s expert analysts offer actionable insights into the market and competitive landscape of medical device manufacturing.
In spite of the growth in the industry, the medical device manufacturers face challenges such as lack of skilled workforce, expert healthcare professionals in electrocardiography, and inadequate reimbursement options for remote cardiac monitoring devices, among other surgical equipment and medical tools. Medical device manufacturers often lack the market understanding in terms of sales, revenue, competitor presence and pricing strategy, and market share.
Solutions and recommendations
The market intelligence team at Infiniti Research offers various solutions to understand the current scenario of the medical device manufacturing industry and future growth opportunities. Some of the solutions offered include:
- Evaluating the total sales, market share, and assess key purchase drivers for GPOs
- Identifying the key decision makers for purchasing medical devices
- Estimating the average selling price by value chain for medical devices
- Developing a holistic view of the medical device market in terms of product category and segments
Read our comprehensive case study on how we helped a market assessment study on cardiac rhythm monitoring and management devices.
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