Tag: healthcare industry

Digital healthcare

Digital Healthcare in Canada: What Needs to be Done to Enable Smooth Transition

Although Canadians are keen about implementing digital healthcare, their healthcare system lags behind. To drive improved healthcare outcomes, the Canadian government must focus on adopting healthcare innovations, customer-driven models, and a new regulatory framework that facilitates change and embraces digital healthcare.

What is digital healthcare services?

Digital healthcare services is a simple concept. It encompasses using technology to improve health and wellness of patients. Today, the term digital healthcare includes electronic health (health-related information, resources, and services provided electronically) as well as developing areas such as advanced computing science ( big data that can provide valuable insights into population health) and artificial intelligence (AI), wherein computer systems perform tasks that would normally require human capacities, such as decision-making. With new healthcare solutions constantly changing the way we live, it is fair to say that the future of healthcare is digital.

Adoption and use of digital healthcare technologies have the potential to make healthcare delivery more accessible, convenient, and cost-effective. Request a free proposal to know how your organization can enable a smooth transition to digital healthcare services.

Canada ranks among the lowest when compared to other OECD countries that have universal healthcare systems. Healthcare consumers becoming increasingly empowered by the volume and ease of access to healthcare information, even so, the current model for healthcare delivery remains unchanged fundamentally. A number of challenges will have to be addressed at the national, provincial, and territorial level in Canada to create an environment wherein the current model can incorporate digital healthcare tools. While the journey towards a fully patient and family-centric approach to healthcare will be long, there are some measures that governments could initiate in order to accelerate the process and implement digital healthcare more effectively.

Digital healthcareAdjust fees paid to physicians

The Canadian government must ensure that fair and adequate compensation is given to physicians for virtual consultations. Some provinces such as British Columbia and Alberta have implemented pilots of revised fee structures, albeit a pan-Canadian strategy is yet to be implemented for revised compensation. In such situations, if the physician billing structure has been modified in a particular province to allow virtual consultations, interprovincial licensing and regulations might restrict physicians from being able to employ these changes across provincial borders.

Partner with us to know how you can identify opportunities to make your healthcare system more patient-centric and improve accessibility. Get in touch with us to know more about how our solutions can help your healthcare organization.

Common strategy for adoption of healthcare innovation

A common nation-wide strategy must be adopted by the Canadian government to better implement innovations such as digital healthcare. By establishing incubators and accelerators, the government is currently encouraging and supporting an entrepreneurial culture in the business sector. By incorporating this as a part of a nationally designed vision for the future of healthcare, new solutions for healthcare can be encouraged. Healthcare strategy should largely revolve around the patient, their family, and the caregiver rather than on systems and institutions. A comprehensive analysis of the customer experience of healthcare companies will provide valuable insights into the opportunities of realizing efficiency through the application of digital healthcare solutions.

Policy framework for digital healthcare solutions

The federal and provincial governments in Canada should collaboratively design a policy framework for the effective adoption of secure digital healthcare solutions. Innovative healthcare technologies will ensure secure data oversight through cloud solutions and blockchain, consequently paving the way for shared policies and standards. Through this, providers will be able to take full advantage of the significant data generated by single-payer health care system. Moreover, this will also ensure that all Canadians can use their individual health data in partnership with their health professionals to identify personalized healthcare solutions.

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healthcare investment opportunities

Exploring Healthcare Investment Opportunities in Central and Eastern Europe

healthcare investment opportunity

The healthcare sector in Central and Eastern Europe (CEE) has been transitioning and showing positive signs of growth over the past two decades. This has largely been fueled by the reform of health services becoming a priority on the political agenda. As a result, CEE’s healthcare sector is rapidly emerging as an attractive healthcare investment destination for domestic and international investors alike. So, what are the key factors that are creating attractive healthcare investment opportunities in Central and Eastern Europe? To begin with, rapid demographic changes and rising disposable income across the region is resulting in increased government and individual spending on healthcare facilities. Furthermore, the highly fragmented healthcare market in Central and Eastern Europe provides investors with attractive healthcare investment opportunities such as pursuing a buy-and-build strategy in the region.

In this blog, experts at Infiniti explores the key factors fueling healthcare investment opportunities in Central and Eastern Europe.

Looking for an ideal healthcare investment strategy? Request a free proposal and learn how our solutions can help you identify an effective strategy and areas of investment that can help you maximize ROI

Rising healthcare spend

Experts at Infiniti are of the opinion that at the current rate, CEE countries will soon grow leap and bounds in terms of healthcare investments. The healthcare investment opportunities created in the region through increased spending are attracting more and more investors each year. In Poland for instance, total healthcare spending including government and individual spend has surged by over 20% in the last two years. The healthcare spending in CEE regions are primarily increasing due to the aging population due to low fertility rates, emigration of younger population, and the rising life expectancy. Apart from this, the increasing demand for better and more expensive treatments are fueling demand and more healthcare investment opportunities in Central and Eastern European countries.

Scope of consolidation

The vast potential for consolidation in the region gives better healthcare investment opportunities in CEE. Unlike Western Europe, the ownership of healthcare companies in CEE is highly fragmented, giving plenty of opportunities for consolidation through buy and build strategies. In Western Europe, there are only a few dominant players with regional monopolies in the healthcare market. The rest are mostly dispersed independent family clinics. This means that in Western Europe, even if investors acquire some independent firms, it wouldn’t move the needle in terms of market share. On the other hand, in the case of CEE, buying few independent firms can make investors grow rapidly.

Healthcare companies will be required to develop new and different operating models in order to tap into new opportunities. Get in touch with our experts to know how we can help you stay updated with latest innovations and strategies for success in the European healthcare market.

Attractive healthcare sub-sectors

Some healthcare subsectors tend to attract and provide more healthcare investment opportunities than others. For example, biotechnology is one of the most attractive healthcare subsectors right now. This segment is expected to attract a significant amount of healthcare investment during the next 18 months. Furthermore, biotech companies are particularly attractive acquisition targets for larger pharmaceutical companies as they enable to accelerate the development of innovative products and new drugs. Due to the emergence of cluster across the region, Central and Eastern European regions are a highly fertile hunting ground for healthcare investors.

Final thoughts

Although the need for investment in medical infrastructure meets tight public budgets currently in CEE, healthcare innovations and public-private partnerships can play a vital role in improving the status quo. By adopting advanced healthcare technologies such as cancer screenings, electronic patient registries, improving patient mobility and accessibility to healthcare, and following practices like outcome-based reimbursement, healthcare providers in CEE can create a successful healthcare system and attract more healthcare investments.

 

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healthcare quality

4 Trends to Keep an Eye on for Improving Healthcare Quality

Quality and safety are paramount for the survival of healthcare companies. With the gradual shift to patient-centric healthcare and the rising market competition, ensuring healthcare quality has now become more important than ever before for providers. While new medical technologies and scientific advancement will boost quality improvement in healthcare, experts at Infiniti Research believe that innovation in activities such as patient experience and risk management will act as primary drivers in the future of healthcare.

Healthcare quality trends 2019

healthcare qualityHealthcare quality trend #1: Leveraging healthcare data

Data is now the foundation of meaningful healthcare quality improvement initiatives. Providers have realized that the data collected and used plays a significant role in quality assurance in healthcare. As a result, increased importance is being given by top healthcare companies to collect meaningful patient data and turning them into actionable insights to improve healthcare quality.

RFP to know how our solutions for the healthcare industry can help providers improve healthcare quality and ensure enhanced patient satisfaction.

Healthcare quality trend #2: Augmented reality training

Augmented reality is becoming increasingly popular across various industries, but its role is particularly powerful in the healthcare sector. Augmented reality has powerful use cases in medical training. It can help healthcare professionals to see diagnosis and procedures right in front of them, enabling them to learn new skills and expand their knowledge. This helps to overcome the gaps in the training given to medical professionals and thereby improve the quality and safety in healthcare.

Healthcare quality trend #3: personalization of patient experience

With the availability of abundance healthcare and patient data comes the ability for healthcare providers to personalize care delivery and patient experience. Healthcare providers will soon be able to create a complete personalized care plan for each patient. Clinics will be able to use data to see what a patient prefers such as if they like being seen in person or remotely, their health history, and any potential health issues rather than treating every patient in the same manner.

Quality and safety in healthcare are now going mainstream, especially after increased patient awareness due to the advent of technology. Are you facing difficulties in ensuring enhanced patient experience through improved healthcare quality? Get in touch with our experts to know how our solutions can help you overcome such challenges.

Healthcare quality trend #4: Technology will drive efficiency

Healthcare organizations are in the increasing need for an integrated system to protect and defend across the care continuum. Providers prefer smarter integration of disconnected data systems over complex patchwork solutions that seek to gather and analyze information scattered across multiple sources and entities. Furthermore, automating routine tasks such as paperwork becomes easier for healthcare providers using technology.

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Market entry strategies

Infiniti’s Market Entry Strategies Facilitate Profitable Growth for a Healthcare Company

Market Entry Strategies for a Healthcare Company

With continually changing healthcare market environment and policies, healthcare companies are facing challenges in establishing their market presence in a new market. Also, recent studies show that more than half of the healthcare companies have failed while trying to enter a new market. With this, it is becoming imperative for healthcare companies to formulate efficient market entry strategies to make their expansion smoother. To achieve this, companies are partnering with firms like Infiniti Research to leverage their expertise in formulating market entry strategies. Infiniti’s market entry strategies have helped various global giants to successfully establish their market presence in new geographies and achieve maximum market share.

Are you planning to expand your business operations to a new geography? If yes, you must be interested to know whether your products or services will fit in the new market. Request a FREE proposal and learn the benefits of leveraging our market entry strategies.

Business Challenge

The client is a healthcare company based out of Central United Kingdom. As the UK healthcare market was highly saturated, the client decided to expand their business operations across Germany and Belgium. Before entering the new market, the client wanted to analyze the opportunities and challenges in these regions. Also, they wanted to understand the size of the market and growth potentials, identify the right business partners to support their operations, and select the right entry mode to enter the new market. Furthermore, with Infiniti’s market entry strategies, they wanted to evaluate the market entry barriers and take appropriate measures to establish a foothold in the new market.

Solutions Offered

To help the client formulate a market entry strategy, the experts at Infiniti Research followed a three-phased approach. The experts conducted a thorough assessment of the market landscape to understand the market size and opportunities in Ireland and Germany. The experts also analyzed factors such as what’s driving growth in the market, competitors’ market share, and the regulatory environment.

Infiniti’s market entry strategies helped the client to estimate the market potential. Also, the experts helped the client to identify the right business partners to support their operations in the new region. Furthermore, Infiniti’s market entry strategies helped the client to understand the market entry modes opted by other major players in the healthcare industry. With this, the client was able to identify suitable pathways for entering the new market. Consequently, the client successfully established their foothold in the new market. Also, within one year of entering the new market, the client was able to exceed their revenue expectation and achieve millions of dollars in savings.

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Steps to Creating Winning Market Entry Strategies

How to do market segmentation analysis (1)

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US Healthcare Industry

US Healthcare Industry Analysis: A Weekly-Round-up of Popular Articles on the US Healthcare Market

LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their new storyboard series on the US healthcare industry. The article provides curated content on the US healthcare market and also highlights key healthcare industry trends, challenges, and digital disruptions.

The US healthcare industry is a dynamic industry with significant opportunities for business growth. But, with rising uncertainties, cost concerns, and complexities, it becomes imperative for healthcare service providers to constantly watch the market and incorporate effective strategies to achieve business growth. By leveraging strategic business solutions, healthcare companies can stay updated with the latest trends and tackle challenges coming their way. Today, as the US healthcare industry is at a tipping point, leading healthcare giants are partnering with companies like Infiniti Research to explore new avenues and achieve business growth. Below we’ve curated some of our latest articles on the US healthcare industry and have also highlighted how we helped some of our healthcare clients achieve business success.

Emerging healthcare industry trends and transformations will bring about significant challenges in the US healthcare industry. Request a FREE brochure to learn more about our services and on how we can help you tackle new healthcare industry challenges.

#1: US healthcare outlook for 2019

With healthcare companies moving from volume-based to value-based model, care delivery and patient centricity are becoming mainstream in the US healthcare industry.  Also, in the US healthcare industry, relentless focus in being given to offering quality services and ensuring patient-care. With this, companies that have not yet adapted to value-based models are finding it quite difficult to engage in better decision making. Various other digital and technological transformations are also being witnessed in the industry. To gain more insights into the US healthcare industry and key trends, read the complete article here.

The US Healthcare Industry Analysis 2019

#2: Infiniti’s competitive benchmarking analysis for a US healthcare industry client

With the entry of new players and rising competition in the US healthcare industry, competitive benchmarking analysis has become necessary, especially when it comes to strategy and planning. One of our clients, a well-known healthcare company wanted to leverage competitive benchmarking analysis to analyze their competitors’ key strategies and outweigh peers. By following a comprehensive approach to competitive benchmarking, our experts helped the client to drill down their performance gaps and identify areas of improvement. To know the other benefits of leveraging our solution, read the complete story here.

Fostering a Competitive Culture Using Competitive Benchmarking Analysis – A Case Study on the US Healthcare Industry

#3: Why is market research a must for the healthcare industry?

Market research helps companies in the healthcare industry to stay abreast of market changes by identifying profitable opportunities and performance gaps. Furthermore, by leveraging market research solutions, healthcare companies can gain a better understanding of the healthcare policies and regulations in other countries while making market expansions. To learn more about why market research is important for healthcare companies, read the complete article here.

Why Market Research is Instrumental in the Healthcare Industry

#4: How to improve patient care in the US healthcare industry?

Delivering quality care has become a common norm in the US healthcare industry. Quality care involves delivering convenient care, quality service, and improved patient experience. Moreover, as major healthcare companies in the US healthcare industry have started embracing patient-care strategies, it becomes imperative for other healthcare companies to focus on improving the customer experience. Learn 5 ways to improve patient care in the healthcare industry. To gain more insights, read the complete article.

8 Easy Ways to Improve Patient Care in the Healthcare Industry

By offering custom market intelligence solutions, we help our client meet their business goals and address market challenges. Request a FREE proposal to know how our solutions will help your business.

#5: Infiniti’s marketing strategy helped a US healthcare industry client to improve ROI

The US healthcare industry is constantly evolving. Also, companies in the healthcare industry are facing stiff competition. With this, if healthcare companies need to reach and engage more patients, it becomes vital for them to ensure their brand visibility. Also, constantly refining marketing strategies can help. One of our healthcare clients was also facing similar predicaments. They approached us to leverage our marketing strategy solution. The solutions helped them develop robust marketing campaigns that resonated with their target audiences. This helped the company gain a leading spot in the US healthcare market and improve ROI. To know more, read the complete success story.

Marketing Strategy Helps a Healthcare Industry Client Improve Their Marketing Campaigns

#6: Quick steps to improving staffing in the healthcare industry

Although ensuring patient satisfaction and care are the main agendas for healthcare firms, achieving this will become difficult without having sufficient workforce. Employees play a major role in the overall growth of a healthcare company. Also, with US healthcare industry facing widespread talent gaps and shortages, it makes it even more difficult for healthcare organizations to retain their top talent. To help you out, we’ve curated 4 powerful tips to improve healthcare staffing. By integrating these tips into your recruiting strategy, you can lower workforce turnover rates. To gain more insights, read the article here.

4 Quick Tips to Staffing Just Right in the Healthcare Industry

#7: Technology trends in the healthcare industry

The healthcare industry remains largely unpredictable. The technology trends and transformations have uplifted the traditional care delivery models. According to recent studies, the next decade will be focussed on preventive care. And here the new technology trends come into play. Wearable tracking devices, cloud-based electronic health records, and telehealth are some of the technology trends to be expected in the US healthcare industry for the coming years. To know more about these trends and on how they will impact the US healthcare industry, read the complete article here.

Top 3 Technology Trends in the Healthcare Industry

#8: Top US healthcare industry challenges for 2019

The US healthcare industry is poised to experience major disruptions in the future. Although fast-paced technological innovations and developments open up new opportunities for healthcare companies, it even brings about major threats. For healthcare companies to sustain their market share, it becomes important to analyze challenges associated with the sector and tackle them effectively. To know some of the key challenges facing the US healthcare industry, read the complete article here.

Treating Challenges in the Healthcare Industry

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new product launch strategy

A Weekly Round-Up of Popular Articles on the Healthcare Market

LONDON: Infiniti Research, a leading market research services provider, has recently announced the release of their FREE downloadable series of resources based on the global healthcare market. These FREE supplements provide comprehensive insights into key healthcare industry trends, healthcare market research, and digital disruptions in the healthcare market.

With digital transformation, financial sustainability, care delivery, patient centricity, and regulatory compliance at the top of the agenda, the future looks sharp for companies in the healthcare sector. This growing healthcare market offers several new opportunities but also poses some critical risks for companies in this sector. Moreover, the healthcare market is at a tipping point which demands the need to constantly watch the market and implement effective strategies to build revenues in real time. Infiniti has helped companies in the healthcare sector including medical devices, pharma, diagnostics, and home healthcare providers to gain actionable insights into patient care, mitigate risks, and improve payment accuracy. We’ve collated some FREE downloadable resources which will give you more insights into the global healthcare market.

Request a FREE brochure to know more about our portfolio of solutions for the healthcare industry.

#1: Why is ‘healthcare market research’ the new norm for providers? As tech giants make healthcare market entrances, traditional healthcare companies face increasing pressure to remain competitive. Healthcare providers need to prioritize on keeping pace with innovation and constantly update their systems to avoid being left behind. Therefore, healthcare companies are partnering with market research companies to gain comprehensive insights into technologies and marketing strategies adopted by their rivals. Market research helps healthcare firms to remain innovative and updated on the most profitable ways to enhance their product/service offerings. This FREE supplement from Infiniti Research highlights some of the best practices for healthcare providers to improve healthcare market research and create better patient outcomes.

Healthcare market

#2: What are the latest healthcare industry trends? The health care industry is evolving more rapidly than ever before. Policy changes, industry innovation, and the evolution of information are ushering providers in a new era of healthcare. Today, in this era of technology, the use of business intelligence in healthcare has become a prime necessity not only for the better utilization of patient data but also for offering the best healthcare services.

Another crucial element involved in effective healthcare management is to keep up with the changing healthcare industry trends. This can not only help healthcare industry companies to be in line with the advancement in the field of medicine, but also improve their operational and service efficiency to provide better treatment and patient care. This FREE resource provides more insights into the top 5 healthcare industry trends to expect in future.

Healthcare market

If you are still not convinced why your organization must invest in healthcare market research, request a FREE proposal to understand how we can help your organization engage in data-based decision-making.

#3: What are the best healthcare market research strategies? With personalized healthcare plans becoming common, market research has become important for healthcare providers to become successful in today’s evolving environment. The more healthcare providers know about their target audiences, higher are their chances to create platforms and communication avenues for their products and services. Effective market research helps organizations in the healthcare market to suitably adapt to the evolving market. This FREE supplement from Infiniti Research will give you more insights on why market research is important for healthcare providers and some of the best healthcare market research strategies.

Healthcare market

#4: What are the digital disruptions in the healthcare sector? Digitalization has opened new opportunities and challenges for companies in the healthcare sector. In this digital era, companies that fail to introduce digital innovation in the healthcare sector would fail in their attempt to enhance patient care and experience. So, it has become crucial for healthcare providers to examine new pathways for innovation. To help you out, we’ve collated a few technology trends that would disrupt the healthcare sector in the near future.

Healthcare market

Get in touch with us for unparalleled healthcare market research solutions.

IR26

The US Healthcare Industry Analysis 2019

The US healthcare industry is increasingly moving from volume-based to a value-based model wherein the key focus will be on improving patient health and ensuring that they are given good care. A value-based model in the healthcare industry would mean lesser revenues/profits for the providers. However, our healthcare industry analysis reveals that treating patients like members of the healthcare system will eventually increase the brand loyalty, help improve goodwill and brand reputation, and thereby enhance the overall health of the nation.

Why is strategic healthcare industry analysis important for providers? Read this blog to find out.

Benefits of Strategic Analysis in the Healthcare Industry

An effective healthcare industry analysis helps providers to stay updated with the latest trends and challenges coming their way. Request a free brochure to know how healthcare organizations can leverage Infiniti’s solutions to stay abreast of the dynamic market.

Top healthcare industry trends 2019

As the healthcare industry makes the shift towards a value-based system, here are some of the key US healthcare industry trends to watch out for:

Healthcare Industry analysisWant to know more? Download free resource from Infiniti Research to gain comprehensive insights into the top trends for 2019 based on our latest healthcare industry analysis.

The future of healthcare industry

The aging population, rising rate of chronic diseases, and exponential advances in innovative, but costly, digital technologies continue to increase health care demand and expenditures. Based on our healthcare industry analysis, here’s our take on key events that would redefine the future of healthcare:

Creating financial sustainability

The performance of the US healthcare ecosystem is greatly being impacted by the increased use of advanced technologies, the rising popularity of personalized medicine, and the demand for expanded care delivery sites. Furthermore, a closer look into the results of recent healthcare market research studies shows that healthcare spending is expected to rise over 5% annually from 2017-2022. Companies in the healthcare sector are now stressing rigorous financial management, efficient operational performance, outcomes-based care, and development of innovative solutions. As a result, there could be improved care provision, reduced costs, declining margins, and aligned cost structure and care models. We can also expect to see developing public-private partnerships and companies in the sector learning from industries outside of healthcare.

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Our healthcare industry analysis suggests that three out of five healthcare providers face difficulty in maintaining financial sustainability. Request a free proposal to find out how we can help you overcome this challenge.

New care delivery models

As discussed earlier, as the healthcare sector in the US is moving from volume to value based delivery models. This will require building an outcomes-based financial model and data infrastructure that will facilitate and maximize value-based care reimbursement pathways. Factors including patient preferences, clinical innovations, and changes in government program payment policies are pressurizing healthcare organizations to shift to alternative points of care. Stakeholders across the healthcare ecosystem must collaborate around new approaches to funding and delivering sustainable healthcare. Investments in advanced technological capabilities such as telehealth could expand services while also helping organizations bend the cost curve.

Regulatory compliance and cybersecurity

Data is the new healthcare currency. So, it is vital for providers to protect healthcare data. The rising market complexities and increase in the number of data breach cases have amplified the need for stringent regulatory and risk management-related government policies. Apart from this, it is critical for healthcare providers to strengthen their focus on compliance and ethics. Focus must also be provided to driving awareness throughout the enterprise.

Cybersecurity is an ongoing issue in the healthcare sector. Read Infiniti’s blog to discover five great ways to improve cybersecurity in healthcare.

5 Great Ways to Improve Cybersecurity in Healthcare

Infiniti’s healthcare industry analysis solutions

The growing healthcare market offers several new opportunities and risks for companies in this sector as well as for those that operate in the broader healthcare value chain. Today, the healthcare industry is at a tipping point, due to which leading market players are now partnering with best-in-class healthcare industry analysis providers such as ours. We provide comprehensive healthcare industry analysis and explore new avenues and markets for growth.

 At Infiniti Research, we help healthcare players to address market challenges by delivering in-depth healthcare industry analysis that highlights the key factors that drive undercurrents of change in healthcare. Our expertise in the field of market research enables us to offer tailored and incisive market intelligence solutions that empower healthcare leaders to gauge how prepared and well positioned they are for the future.

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Market Intelligence

Medical Devices Competitor Analysis: An Infiniti Research Success Story

Competitor Analysis for Medical Device Manufacturers 

About the Client 

The client is a leading player in the US medical device industry. The company is well-known for developing innovative medical devices and drugs.

The Business Challenge                                         

Medical devices manufacturing companies are set to witness growth opportunities in emerging markets. Moreover, as the new standards and regulations are emerging, and healthcare dynamics are evolving, the medical devices companies are facing an increasingly competitive scenario. This challenging environment compels medical devices companies to reduce costs, streamline their operations, and innovate more quickly. Thus, it has become extremely difficult for traditional medical device companies to compete with other firms in their areas of specialization, in terms of cost, quality and capability.

Companies in the medical device industry are exploring ways to stay competitive in the market by distinguishing market disruptions, analyzing competitive activity, and developing intelligent business strategies.

Business Case: The rising number of medical devices manufacturing companies have drastically increased the level of competition in the market, making sustainability a key challenge for companies. Thus, the client wanted to devise a competitor analysis framework to develop robust marketing strategies that would help them gain a competitive advantage over other market players. Additionally, the medical devices manufacturer wanted to profile major competitors in the industry and understand their current marketing initiatives to make the required changes in their business plan.

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Top Challenges Faced by the Medical Devices Manufacturer 

Problem Statement 1

With the recent technological advancements in the medical device industry, the client was facing difficulties to propel their business forward. Hence, the medical devices manufacturer wanted to assess the performance and capabilities of their peer groups to make better business decisions.

Problem Statement 2

The medical devices company faced increasing demand to adapt to a fast-evolving marketplace by efficiently catering to the needs of the growing population.

Problem Statement 3

Medical devices manufacturer faced significant challenges in identifying long-term savings opportunities and areas for cost reduction to facilitate product design and development.

Problem Statement 4

They needed to achieve comprehensive insights into their competitors’ strengths and weaknesses to develop effective plans to become market leaders in the US region.

Mastering these challenges are easier than you think with Infiniti’s customized competitor analysis solutions. Want to know how? Request for more info!

Solutions Offered and Value Delivered 

To address the client’ challenges, our competitive intelligence experts developed a competitor analysis framework to measure competitiveness in the global landscape.

Phase 1: Identifying competitors within the medical devices sector

The initial phase of the competitor analysis solution involved conducting extensive researches to gain an understanding of the key competitors of the client.

Phase 2: Categorizing competitors

The second phase involved categorizing the key competitors of the medical devices firm based on competition –Their competitors were categorized into direct, indirect, and substitute competitors.

Phase 3: Analyzing competitors’ strengths and weaknesses

The next phase included analyzing common marketing patterns and the competitors’ strengths and weaknesses. This helped the medical devices firm to differentiate themselves by offering products and services to fill gaps that their competitors have not addressed.

Phase 4: Devising a competitor analysis framework

By leveraging market information and data obtained from competitors, a competitor analysis framework was devised. This included the detailed company profiles, competitors list, their current activities and future industry developments.

With Infiniti’s competitor analysis, the medical devices firm was able to analyze competitors in terms of market penetration and product developments. This helped them gain a better picture of the current market space and build new business strategies. The medical devices company was also able to identify profitable markets and offer a differentiated set of products. Also, they dynamically fine-tuned their marketing efforts to gain a competitive advantage over their competitors.

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Future of Medical Device Industry

The future of medical devices industry is largely influenced by technological advancements and opportunities that promise to revolutionize the operations of medical companies. The development of state-of-the-art medical devices and technologies has shown unparalleled growth and advancement in the healthcare industry. Furthermore, the emerging technologies in the industry space have revolutionized the way medical devices are formulated and manufactured to cater to the demands of the healthcare industry. Hence, companies in the medical devices industry are seeking to enhance product prototyping, minimize operation costs, and be responsive to product developments to stay competitive in the market.

Why Partner with Infiniti Research? 

With a team of highly skilled market research professionals, we offer customized solutions that will help medical devices companies to magnify their competitive advantage by improving their speed-to-market. Our solutions have been proven to deliver insight-driven outcomes at scale, to help businesses improve their business performance.

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Product research

Healthcare Market Access: The Present and The Future

The current state of the U.S healthcare market is characterized by continuous flux and uncertainty. When compared to the overall healthcare costs, the drug costs have grown at a slower rate. Companies in the U.S. healthcare system are now exploring ways to combat these challenges and survive the mounting healthcare market access pressure.

Healthcare market access assists the right patients to get timely and easy access to medical services and products at an affordable price. Accessibility, availability, affordability, adoption, and willingness to pay (reimbursement) should be achieved while ensuring equity and quality at each level. Furthermore, multiple challenges and inefficiencies and uncertainty in healthcare systems lead to unnecessary delays in access to innovative technologies, slow adoption of new and effective technologies, and inequalities in guaranteeing that patients receive the best-in-class treatment.

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Challenges in successful healthcare market access 

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