Tag: medical device market

medical device market

Gaining Ground in China’s Medical Device Market

The developments in China’s medical device market is taking place at a breakneck speed. This makes the Chinese medical device sector a highly lucrative market that top medical device companies cannot afford to ignore. The medical device market in the region consists of several tiers, ranging from high-end to mass-market equipment. High-end equipment consists of the latest diagnostic and treatment technologies, which are usually contained only in imported products, while mass-market equipment incorporates older technology used for basic screening and treatment. The ongoing healthcare reform in China is expected to reform and reshape the market in fundamental ways. The medical device industry will largely be dominated by three significant changes over the next couple of years. This includes:

  • Rising importance of the midmarket
  • Growth of local companies
  • Revamping ways in which medical device products are sold

Although these changes will create huge opportunities for medical device companies, they also come with a set of challenges that could affect both MNCs and local players in the medical device market. In order to thrive, international medical device manufacturers must defend their leadership position at the premium end of the market against stronger local rivals while expanding their reach in the fast-growing midmarket. On the other hand, local companies in China’s medical device market must focus on developing the products, skills, and talent required to succeed at the upper end of the midmarket and some premium segments as well.

In this article, our healthcare industry experts reveal some key strategies to survive in China’s medical device market.

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Strategies for MNCs’ in China’s medical device market

Focus more on midmarket

To be in head to head competition with local medical device companies, it is vital for MNCs’ to capture share in the midmarket. To achieve this, companies must start by developing a mid-market portfolio that meets the demands of patients and healthcare providers in China. They can choose to opt for an organic new product development, joint ventures, or acquisitions. Furthermore, building a go-to-market model that is not only sufficient but is also highly efficient can also prove to be helpful. Making changes to the go-to-market model, manufacturing, and sourcing, with a focus to lower costs is paramount for winning in the midmarket.

Stronger skills and strategies in government affairs

Although some top medical device companies have established strong relationships with central and local government agencies in China, it is not so across the board. Stronger skills sets and well-defined strategies in government affairs is paramount to shape regulatory policies on product registration, pricing, and compliance.

The changing landscape in China’s medical device market will create immense opportunities for companies in the sector. Get in touch with our industry experts to gain detailed insights on how we have helped top companies across industries to improve their key capabilities and capitalize on the right opportunities.

Strategies for local companies in China’s medical device market

Make strategic investments

Companies in China’s local medical device market that want to establish their position in the middle and premium ends of the market must upgrade the quality of their existing products and emphasize on developing new and innovative offerings. Local players can also consider partnering with R&D centers or setting up joint ventures with MNCs’ in the medical device industry to gain access to advanced technologies.

Enhance skills and processes

Venturing into the premium products market will require local medical device companies to have a more sophisticated sales and marketing operation than the existing ones in place. The excessive reliance on distributors in many cases must be reduced, instead, direct relationships can be built with key accounts through their own salesforce.

Want to know more about venturing and investing into new markets? Learn more about how our market entry solutions can help your business.

Future of medical devices

How CEOs Can Navigate Digital Disruption in the Future of Medical Devices

The medical device landscape is fast evolving. Quality remains paramount in the medical devices industry despite external pressures changing market dynamics. Apart from the ease of use, clinical efficacy, and safety of medical devices, healthcare providers are now looking for better outcomes, lower costs, and patient satisfaction. The future of medical devices will largely revolve around strategies to meet these changing demands. Designers and usability experts in the medical device industry are already trying to reduce device complexity and variability to attain improved reliability, better patient outcomes, and enhanced overall performance. Recognizing its importance in order to survive in the long run, CEOs of companies in the healthcare industry have declared innovation as a top priority in the future of medical devices. Based on their expertise in working with medical device companies across geographies, experts at Infiniti Research examine how medical device companies can define a winning strategy and design an at-scale digital transformation.

How can medical device companies get started on building better customer experiences and succeed in the future of medical devices? Request a free proposal from our medical devices industry experts to know how our solutions can help.

medical devices (1)Understand stakeholder actions

CEOs of medical device companies have started acknowledging the power of digital and advanced analytics in revamping the future of the medical devices industry. As a result, they are increasingly investing into related capabilities. However, it is important to note in order to execute big changes and for it to deliver the desired results, it needs to be woven into the DNA of the organization. Digital health companies can help provide consistently delightful experiences to key stakeholders including patients, clinicians, providers, and caregivers. This means that in the future of medical devices, creating intelligent and personalized products can deliver improved clinical value. Furthermore, this can also help to reimagine processes and dramatically reduce costs and accelerate the decision-making process. To achieve this, companies in the sector must continuously evaluate stakeholder actions and across the value chain to define the pace and direction of their responses.

Build customer relationships

Customer experience and satisfaction are now vital for the success of any organization. Hospitals and other healthcare organizations are the key customers of medical device companies. To thrive in the future of medical devices industry, it is important to fine-tune commercial engines and optimize the cost-to-serve and cost-to-market models. Companies in the medical device organization can also optimize their microtargeting to reach the right physicians and providers based on volumes, outcomes, risk profiles, and purchasing behavior.

As global companies seek to make their products stand out in an increasingly crowded marketplace, innovation has earned a place on the CEO agenda. Gain more insights on how you can innovate your existing strategies and process to be in line with the changing market demands.

Create risk-sharing relationships

Risk-sharing is a way for medical device companies to build better relationships with providers. Some companies have already begun to embrace contracting, risk-sharing, and subscription-based solutions for providers. This requires robust approaches to measure, track, and underwrite outcomes in the real world.

Reimagine processes

To achieve success in the future of medical devices industry, companies can reimagine and automate end-to-end processes to unlock new insights and achieve greater efficiency. For instance, resorting to a digital supply chain can optimize supply chain costs and help medical device organizations to enhance customer service.

Learn more about our solutions for the medical devices industry.

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Navigating Through the Present and Future of Medical Device Industry: In Conversation with an Infiniti Research Thought Leader

Vivek Sikaria, AVP – Custom Research (Market and Competitive Intelligence) at Infiniti Research has over 10+ years of cumulative experience. He is a thought leader in strategy consulting, market intelligence, and competitive insights. He has extensively worked with Infiniti’s clients in the healthcare and medical devices domain, specifically on topics relating to market entry, market potential, and emerging opportunities assessment. Prior to joining Infiniti, Vivek has worked for McKinsey and Wipro.

The medical device industry is characterized by its heterogeneous, innovative, and dynamic nature. As digital technologies are majorly transforming the healthcare sector, a revolution is underway to disrupt the future of medical device industry. However, introducing a new medical device technology in the market can be highly complex, requiring a clear understanding of premarket preparation and approval to the Food and Drug Administration (FDA). Furthermore, with the advent of various micro and macro medical device industry trends including enhanced buying power of payers or providers, complex regulatory scrutiny, and the introduction of new healthcare delivery models, medical device manufacturers are now struggling to develop effective market entry strategies. The key to dealing with the dynamism of the medical device industry and thrive in the future of medical device industry is to become agile innovators.

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What are the market dynamics affecting the medical devices marketplace?

Vivek: Several market dynamics affect the performance of companies in the medical device industry. Let me list out a few, which according to me, have the biggest impact on companies in the sector. The level of scrutiny in regulations is seen to be increasing with each passing year. This often restricts the full flight of medical device companies. Also, emerging delivery models or business models introduced by competitors make the marketplace even more complex. For companies in the medical device industry, changing patient preferences and the emergence of new markets can undoubtedly create attractive opportunities, but they give birth to new market challenges. The future of companies in the medical device industry will largely depend on their ability to engage in constant innovations.

Although these dynamics often differ from one segment to another, collectively they lay the foundation of every medical device company’s strategy. It’s a no-brainer that every healthcare company needs to be on top of these developments so that they can better participate in this ever-changing market space. However, in my opinion, the biggest challenge is that it is not particularly easy to control or even respond to most of these factors that I have just mentioned. At a macro level, it appears that new product development is the most common response across companies and regions to deal with the market changes. No wonder R&D and new product development are top strategic priorities for most companies. Although innovations have made the medical space interesting, it has also made it extremely crowded. Several technologies are now being touted as the next best thing to hit the market and make it big in the future of medical device industry, but we will have to wait and see which of them will hit the mark.

Medical device companies that adapt to new market innovations will find enormous opportunities to grow and thrive. RFP to know how Infiniti’s solutions can help your business stay updated with the latest market trends and identify market opportunities before it’s too late!

Is it important for medical device manufacturers to track emerging technologies?

Vivek: Absolutely. I think it is vital for forward-thinking medical device companies to keep a keen watch on the developments in the sector. Tracking new or emerging technologies can aid in decision-making relating to organic expansion of existing markets, opening up of new markets, and can even help you identify M&A opportunities. Sometimes, promoters of smaller companies are often looking for cash outs because they lack the setup needed for blockbuster success. On the other hand, sometimes large companies own important innovations but in the areas that are not really important for them. Competitors are often on the hunt to grab such opportunities and the first mover wins. So, it is important to keep track of emerging technologies in the medical devices industry. It is also a fantastic way to identify adjacent categories in the market where you can operate and even supplement the current product lines. Moreover, analyzing emerging technologies can open up a completely new market where you are not present right now.

Many companies in the medical device industry rely heavily on market research reports to study an innovative technology in the market. How reliable is it as a source of data and decision-making?

Vivek: As rightly pointed out, most companies tend to rely on published information, market research reports or internal market intelligence data to gather information on new products or technologies in the medical device industry.

There is nothing wrong in this approach, but mostly, the information attained through these sources can prove to be insufficient and misleading. Often published resources are voiced out to what the technology owner chooses to publish outside mandatory filing. Here, the information is often scattered in bits and pieces and insufficient to deliver a complete picture. Furthermore, this data often fails to provide a country level data distillation. A common misconception is that market research reports cover all the info relating to most of the tech innovations but if u dig slightly deeper, it appears that quality of data is sometimes questionable. As we are part of the market research industry, we are aware that a lot of these reports are an outcome of market models that aim to cover several things at the same time.

Get in touch with our experts to know how we help the C-suite to keep track of emerging opportunities and secure additional revenue growth for their business.

webinar (2)In that case, what is the best way to study the market for a new technology in the medical device industry?

Vivek: When starting the study of the market for an innovative technology that has the potential to disrupt the future of the medical device industry, the very first step should be to understand the lifecycle stage of the technology. It could be a very new technology that has been just been commercialized, or a more mature but recent technology which off late has started seeing some tailwinds. This categorization is important to plan the analysis, methodology, and information sources. It also helps understand the different variables that need to be studied, the kind of questions that need to be answered, and several more other areas. In the case of a new product that has only been partially commercialized, real data that has been reported in public or private domains must be collected. This data can be in the form of patient/disease data from public registries, data from physicians’ practices, or even microdata published by global health ministries. Inputs from MedTech companies can also be collected to get supply-side information.

Learn more about Infiniti’s solutions for business.

medical device packaging

Debunking Three Common Myths About Medical Device Packaging

The lifecycle of launching a new medical device into the market includes a significant number of milestones that can either facilitate or hinder the launch date of the product. One of these milestones that has a critical impact on the time-to-market strategy is medical device packaging. Although it may seem that medical device packaging is the last thing on the mind of manufacturers, this is not the case. Packaging is a highly crucial element of the final output of medical devices. This is largely because the packaging not only ensures that the medical device is protected from any external damage, but it also plays a vital role in upholding the quality standard of the product till the time they are put to use.

In this article, we put some common misconceptions about medical device packaging to rest and also explain the key best practices involved in an ideal medical device packaging.

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Medical device packaging only needs to be tested once

If a particular medical device packaging pouch or box is already in use, there are chances that you tend to ignore testing this packaging again. Although it might be possible to leverage the previous testing results partly, it is important to re-perform these tests. This is because there is more to testing medical device packaging than merely testing whether the pouch seals meet a minimum peel strength requirement.  It is also vital to test the chances of the device puncturing the pouch or whether the packaging can damage the medical device. In addition, while undertaking transit testing, if your device is sterile, it must be proved that the device packaging will maintain sterility for the shelf-life of the device.

Medical device packaging is easy

It is a common misconception that medical device packaging is easy and does not require a lot of thought. But the truth is, if medical device companies wait till the end to decide on their packaging strategy, chances are that their time-to-market is going to be delayed. Medical device manufacturers must understand that packaging it is critical to keep the device sterile and functional, and packaging plays the most important role here. The first design drafted for the medical device packaging might not pass testing or may be cost-prohibitive. It may require several complex iterations.

Medical device packaging decisions can wait until the end

It is a common misconception that since packaging is one of the last stages before launching the product, the decisions relating to packaging can wait till the end. However, as mentioned earlier, medical device packaging decisions might not be as easy as you expect it to be. Pushing these decisions to the last minute could delay the product launch. Furthermore, for the US as well as the European market it is imperative for medical device packaging to adhere to ISO 11607-1 and ISO 11607-2 standards.

Facing difficulties in identifying a good packaging strategy and meeting packaging standards in the industry? Request a free proposal to know how our solutions can help you solve such roadblocks.

Medical device packaging best practices

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3 Key Medical Device Reimbursement Challenges Manufacturers face Globally

Medical device reimbursement is the payment made by a third party private or public insurer to a health care provider in exchange for the costs or payments incurred by the provider for performing the required procedure or using a medical device. There are three goals for any medical device reimbursement strategy, universal coverage from all insurers in all patient care settings, adequate physician and institutional reimbursement, and unambiguous coding. Reimbursement is the primary issue on every investor’s mind, and it is one of the first things healthcare companies think about when developing new products or medical devices. If the coverage under medical device reimbursement has no certainties, it becomes very difficult for companies to analyze the return on investment. This obstructs venture funding and also limits innovation. Consequently, it pulls back the patients from leveraging the benefits of advanced and new technologies. Thus, medical device reimbursement and coverage of payers play a very important role in making or breaking a medical device. There are several challenges associated with medical device reimbursement for manufacturers, which varies from countries to countries. In this article, we hGet More Infoave listed down some of the most common challenges that every manufacturer faces in medical device reimbursement. Also, we have suggested a few solutions to deal with those challenges.

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Market Entry Strategies

Future of Medical Devices – Technological Advances in Healthcare

With the rapid pace of technological advancements in the healthcare industry, the future of medical devices looks promising.

The new-age medical technology has transformed the way doctors and patients participate and interact with each other. Obtaining real-time information, tracking past health records, identifying potential health issues, and devising a treatment plan are allAsk an analyst signs of the gradual shift from traditional methods to smart medical devices. The future of medical devices is influenced by technological trends and opportunities that promise to revolutionize the operations of the healthcare providers and the medical technology companies. The medical device market space is driven by innovation, and the development of state-of-the-art medical devices and technologies has shown an unparalleled growth and advancement in the healthcare services industry.

The Future of Medical Devices Impacted by the Changing Market Dynamics

A medical device is an apparatus that helps prevent, diagnose, detect, restore, or treat diseases. According to our specialists, the future of medical devices is affected and influenced by the ever-changing market dynamics and other factors such as innovation, growth of emerging markets, advent of new business models, evolving healthcare delivery models, health information technology (HIT), and rapidly changing regulations and compliance standards.

future of medical devices

 

Today, the medical device market is driven by innovation, which has coerced the medical device manufacturers to invest in research and development. As a result, the medical device manufacturing companies are contemplating new business models and market expansion strategies in emerging markets such as the APAC, Africa, and LATAM. With the technological advancements and revolutionary changes in the medical device market, manufacturers and healthcare service providers have started offering personalized patient care and access to complete end-to-end medical device products and services. Med-tech companies are also focusing on new medical device development and are expected to invest a significant amount of the organization’s revenue on research and development. However, the future of medical devices looks interesting but crowded as manufacturers and med-tech companies are launching several new technologies and products.

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Medical Device Manufacturers and Emerging Technologies

Medical device manufacturers are seeking to develop and enhance product prototyping, minimize operation costs, and be responsive to product developments and latest market trends. Emerging technologies in the medical device space have revolutionized the way surgical tools and medical equipment is formulated, improved, and manufactured to cater to the demands of the healthcare service industry. Why should medical device manufacturers track the development of emerging technologies, you ask? Here’s why:

  • By tracking the development of emerging technologies, med-device manufacturers can enhance existing product lines or create adjacent product categories, thereby offsetting the potential impact on existing product lines and categoriesmedical device manufacturers
  • Targeting new markets is the future of medical devices and manufacturing that allows companies to expand market and devise market entry strategies for emerging markets. A medical device manufacturer can either enter a new product category or a new region. Companies can leverage the benefits of low-cost country sourcing and manufacturing, thereby reducing operational costs and providing the highest quality products at the best possible price
  • The emerging technology market space has witnessed a surge in M&A activities over the past years. Med-tech companies are participating in mergers and acquisitions to gain market shares and acquire patented medical technology. This allows companies to gain the first mover advantage and operate in new areas.

Emerging medical device technologies are driven by the internet of things (IoT) and are equipped with wireless communication technologies such as the Bluetooth and internet connectivity to facilitate machine-to-machine communication. Interconnectivity between these tools and equipment with cloud-based platforms that capture, store, and analyze patient data and health information is the next step in the future of medical devices. These systems will enable remote patient monitoring, tracking of previous medical prescriptions and patient locations, monitoring patient progress, and providing access to caregivers.

Tracking The Potential of Emerging Technologies

To stay ahead in the market, it is essential for med-tech companies to track the potential of emerging technologies at an early stage. Traditionally, medical device companies relied on internal intelligence and syndicated research reports that provide insufficient data, invalid assumption, and offer findings that often misleads the organization. Besides these, companies scan the web and media such as magazines, trade journals, industry published reports and brochures that provide limited, outdated, and biased information. Organizations who follow the traditional way of assessing emerging technologies and their potential face the following three issues,

future of medical devices

Assessing The Future of Medical Devices, The Infiniti Way

Infiniti’s team of expert analysts understand the shortfalls of the traditional method of assessing the potential of emerging technologies and present new market models that are fine-tuned to track the latest developments and emerging technologies in the medical device market space. The Infiniti market assessment model categorizes product into three categories namely very new, moderately new, and existing products. The process entails extracting real time data, building realistic market models, and validating the models, framework, and assumption with physicians, patients and others in the med-tech industry to provide accurate and relevant actionable insights.

future of medical devices

We assist healthcare service providers and med-tech companies by providing actionable insights that help them in strategic decision making and assess the future of medical devices. These insights enable the companies to answer the following questions,

future of medical devices

 

Read this success story to know how our competitive intelligence solution will help companies in the medical device industry.

Enhancing Sales Rate by 33% for a Company in the Medical Device Industry | Infiniti’s Latest Success Story on Competitive Intelligence Solution

 

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Market Assessment Study – Analyzing the Medical Device Landscape for A Leading Manufacturer

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.

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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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Top 5 Challenges for Medical Device Manufacturers in Emerging Markets

medical devicesAs we look to the future, medical device manufacturers face a new world that’s full of opportunities. However, uncertainty lies ahead as well. New standards and regulations are emerging, reimbursement rules are becoming more complex, healthcare dynamics are evolving, and companies are facing an increasingly competitive scenario. This challenging environment requires that medical devices companies reduce costs, streamline their operations, and innovate more quickly. Additionally, medical device manufacturers are set to witness growth opportunities in emerging markets with the increasing importance of medical devices and surgical equipment in modern healthcare.

Medical devices industry overview

Globally, the medical device manufacturers are shifting from a transaction-based approach to an approach that involves focusing on creating value for providers, practitioners, payers, and patients by providing surgical instruments and medical tools that are highly cost-efficient, innovative, and speak volumes about the product quality. The medical device manufacturing industry is expected to grow by leaps and bounds owing to the rising aging population, increasing health concerns, and sky-rocketing health care costs. As a result, medical device manufacturers are undertaking new product development projects at breakneck speed, especially in the emerging markets such as China and India. However, a key point to remember here is that the medical equipment manufacturing companies would require a proper execution strategy to address the needs and concerns of the key stakeholders in the market.

In the emerging markets, medical devices and surgical equipment are often looked at as cost drivers for limited budget hospitals, although they offer long-term cost-saving opportunities, create effective healthcare practices and offer improved patient outcomes. Despite the trends and developments, medical device companies must take the necessary steps to overcome the challenges pertaining to product quality, regulatory compliance, and data security among several others. Let’s look at the top 5 challenges faced by medical device manufacturers in the emerging markets: 

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#1 Ensuring Product Quality

Medical device manufacturers must warrant top-notch product quality to avoid product recalls. For a medical equipment manufacturer, product recall negatively impacts its brand reputation and the company’s bottom line. Thus, ensuring adequate product safety, security and reliability are extremely crucial to survive the competition in the emerging markets.

#2 Regulatory Compliance and Government Support

Medical device manufacturers must ensure adherence to product safety standards and regulatory compliance. Medical devices include every equipment right from thermometers to magnetic resonance imaging machines. Medical equipment manufacturing companies must pay attention to compliance and regulatory standards that differ from country to country. Besides this, garnering government support in the form of subsidized research and development, expediting approvals, tax and financial support, and offering favorable tax reimbursements are some of the major challenges for medical device manufacturers.

 

#3 Localization of Medical Devices 

In the emerging markets, local medical device manufacturers are more successful as compared to their multinational counterparts. This is possible because the local players offer tailor-made products aimed at resolving local needs and constraints. The local medical equipment manufacturers often indulge in market research and leverage the benefits of local operations and a domestic sales force to bridge the gaps in the market.

#4 I-o-T Integration and Data Security

Internet-of-Things (IoT) enabled medical devices and surgical instruments that are high on innovation pose as a technical challenge for medical devices companies. The growing concern of medical equipment manufacturing companies is to collect, secure, and manage vast amounts of sensitive data that is stored in a cloud-based infrastructure to prevent data theft and breaches.

#5 Cost of Product Development

The major challenge for medical device manufacturers is to overcome the burgeoning cost of product development as a result of the challenges mentioned above. Besides technology and government regulations, medical service providers evaluate new products based on their price as against factors like patient experience.


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Answers to the questions

Market Assessment Study on Urology Devices

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.

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