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Medical imaging market

Market Opportunity Mapping for a Client in the Radiography System Medical Imaging Market

Radiography system medical imaging market overview

The radiography system medical imaging market in the United States is poised to witness unprecedented growth over the next few years. According to experts at Infiniti Research, the growth of this market is fueled by factors including the rising demand for early disease diagnosis,  widening scope of clinical applications, rapidly growing geriatric population, the subsequent growth in the prevalence of related diseases, technological advancements in diagnostic imaging industry, and increasing investments, funds, and grants by both public-private organizations.

Top segments: Our US radiography system medical imaging market analysis suggests that approximately 12% of the 4500+ hospitals in the United States are expected to procure new floor-mounted X-ray machines annually.

Top Markets: The United States and Western European nations like the UK, Germany, France, Italy, and Spain are the key dominant regions in the global radiography system medical imaging market. Furthermore, experts at Infiniti Research predict that the market in the Asia-Pacific (APAC) region will witness steady growth through 2025, especially in countries including China, Japan, and India. 

For more insights on the volumes, growth technologies, opportunities, and distribution network in the medical imaging market, RFP and we will get back to you within 24-hours.

Key radiography system medical imaging market challenges faced by the client

A top company in the US radiography system medical imaging market approached experts at Infiniti Research to help them identify solutions to the following business challenges:

  • Challenge #1: Client needed to understand radiography system medical imaging market to identify untapped opportunity areas of diversification in small and medium size hospitals in US, UK, Italy, and Germany
  • Challenge #2: Hospital specific insights in the target regions was not available in secondary domains and reaching out to hospital stakeholders to extract the information was difficult for the client
  • Challenge #3: Pricing was dynamic and dependent on multiple factors hence an efficient tracking and estimation model was needed to ensure a competitive advantage
  • Challenge #4: Multiple distributors’ presence made it difficult to design an effective sales strategy

 

Our Integrated Approach

Experts at Infiniti Research used a combination of their market opportunity assessment, market research solutions, and their growth consulting model to help the client solve critical radiography system medical device challenges and also identify new avenues for revenue generation and growth.

As a part of the market opportunity assessment and the market research solution, the client was provided with:

  • Forecast models to assess the changing trends in the radiography system medical imaging market
  • Access to high-quality internal and external published content
  • Information gained from secondary research interviews and validated the findings through 50+ industry experts and B2B interviews to provide deeper insights on the opportunities for growth across products, services, and solutions
  • Competitor analysis to analyze key competitor strategies and understand how they fared comparatively
  • Industry best practices assessment to understand how other players curtailed similar challenges
  • Quarterly updates and regular monitoring was conducted to ensure a regular track of purchase price ranges and affordability of hospitals

Furthermore, Infiniti’s growth consulting model for the radiography system medical imaging client entailed:

  • A growth pipeline to determine opportunity prioritization
  • A deep-analysis of the prioritized opportunities through market opportunity evaluation
  • Building a go-to-market strategy
  • Planning and implementation of specific plans with appropriate targets and deadlines
  • Market strategy optimizationmedical imaging industry

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Results obtained

By leveraging Infiniti’s market research solution and growth consulting model, the radiography system medical imaging company was able to:

  • Gain actionable insights on emerging and untapped potential in the target regions within small and medium hospitals
  • Use Quarterly price trackers to keep a tab on hospital preferences and purchase trends
  • Enter into long-term, service-based partnerships and identify the most feasible type of contract with the right vendors and distributors in each region based on the regional strength scorecards provided, which in turn created a promising business continuity
  • Identify key industry best practices related to regulatory compliance and sustainability

Infiniti’s market intelligence solutions are designed to cater to the needs of companies across regional and global markets. Learn how we help global players with superior leadership strategies, technological innovation insights, customer service best practices, and strategic product development knowledge.

Customer Intelligence Assists a Leading Medical Imaging Client to Target Potential Customers in the Latin American Market

In the current healthcare landscape, growing health literacy is motivating the patients to seek medical information to make accurate and informed healthcare decisions. Also, with the growing concern for innovations in healthcare, it makes good sense for the healthcare organizations to remain abreast of the changes in the technological space. To realign their operations and make prompt delivery of timely healthcare services to the patients, healthcare providers in the medical imaging space are facing the need for a customer intelligence solution. In the medical imaging space, customer intelligence helps companies gain real-time information on customers’ preferences and tap opportunities to create short-term financial impact. With the aid of customer intelligence, renowned medical imaging companies can address concerns of the customers and make effective and intelligent business decisions.

To gather relevant insights into the customer buying patterns, organizations in the medical imaging space are approaching companies like Infiniti. With expertise in offering a variety of services, Infiniti’s customer intelligence solution assists the patients to get timely and accurate insights on their diagnostic and treatment patterns and effectively respond to the treatments. Also, companies in the healthcare industry can acquire new customers and retain the existing customers.IR_Brochure

The Business Challenge

A renowned medical imaging devices manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments profiling the potential customers in the Latin American region. The client wanted to gain relevant insights into the customer buying patterns and tailor products and services based on customers’ usage patterns. With the aid of customer intelligence, the medical imaging client wanted to shift from the conventional product-focused business model to a more customer-centric enterprise.

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Our Approach

To better understand the customer’s motivation and buying preferences, Infiniti’s customer intelligence experts carried out an extensive qualitative and quantitative research with leading stakeholders in the medical imaging space. Also, to understand specific geographies and analyze the customer’s spending habits, the customer intelligence experts at Infiniti compiled information across a wide array of proprietary sources such as paid industry databases, company presentations, industry forums, and media platforms.

Benefits of the Customer Intelligence Solution:

  • Proactively identified risks and opportunities with the customer base
  • Assessed the health of customer relationship in the short and the long run
  • Profiled the potential customers and determined the customers who are at the risk of defection
  • Understood the product preference in terms of the key attributes
  • Gained recommendations on the next best actions to acquire, grow and retain customers

Benefits of Our Integrated Approach

The customer intelligence solution helped the medical imaging client understand the buying behavior of customers and generate better ROI from their marketing campaigns. Moreover, the engagement offered by Infiniti also helped the client create an accurate and effective marketing program for the medical imaging firm and tailor the resources based on preferences. With the help of this engagement, the medical imaging client was further able to analyze the customers’ data and devise effective strategies to reduce customer churn and launch products in the Latin American market.

A must-read case study for strategy experts and decision makers looking to target potential customers in the healthcare industry.

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Market Segmentation Analysis for an MRI Manufacturer Helps Improve Competitiveness and Profitability

The current medical imaging industry environment is vibrant and diversified with manufacturers retaining a strong foothold through partnerships, relationships, and joint venture initiatives. With the prevalence of robust compliance issues, the industry has started shifting from an input-based approach to a robust value-based approach with the outcome of improving health care for the patients. The transformation is paving the way for implementing robust healthcare initiatives in the form of advances in medical devices. To become more competitive, manufacturers are implementing an effective market segmentation analysis. Market segmentation analysis helps companies tap potential market segments and effectively reduce healthcare expenditure. Market segmentation analysis further helps companies revamp their existing models and create a value proposition for customers. In the medical imaging industry, manufacturers are relying on market segmentation analysis to gauge through the potential market and develop new products to gain higher returns on investment.

Infiniti’s market segmentation analysis helps clients segment the products based on consumer preferences and target their potential market segments. With our help, the client can identify the potential trends and opportunities in the medical imaging industry and optimize current offerings to improve their operations.

The Business ChallengeIR_Brochure

A leading MRI manufacturer was facing predicaments improving their competitiveness and profitability for their products across the target region. The client wanted to devise effective strategies to identify pathways to accelerate product development without comprising on the quality of the product. Moreover, the client wanted to enhance patient safety while minimizing their resources and maximizing the ROI.

The primary objective of the engagement was to revamp the existing business model and benchmark their product offerings against the competitors. Moreover, the client wanted to deliver robust products and services to the customers to meet their increasing demands.

Our Approach

To keep costs down and remain competitive, the client approached Infiniti Research to devise robust initiatives to drive operational costs while maintaining profitability. Infiniti’s market segmentation analysis experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in the MRI manufacturing space. Also, to analyze the competitiveness among the leading competitors in the medical imaging  industry, the experts also collated data from various proprietary resources such as hospitals, healthcare platforms, newsletters, and publications in the medical imaging industry.

MRI Manufacturer

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Market Segmentation Analysis Solution Benefits:

  • Segment the potential customers into sub-segments based on their preferences
  • Help marketers tap distinct groups and segment them accordingly to develop targeted marketing programs
  • Develop products, services, and marketing strategies to address the specific needs; in turn, improving customer retention
  • Help companies tap potential niche markets segments and identify ways of approaching the market
  • Implement real-time marketing campaigns and decide the data inputs to use
  • Identify segments that are easier to target and accordingly allocate resources

Benefits of Our Integrated Approach:

In a span of eight weeks, the client was able to identify target groups and aggressively benchmark their product offerings with that of competitors. The client was further able to penetrate across new potential markets and venture new segments within the medical device industry. The engagement also helped the client develop an effective marketing plan.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the medical imaging industry.
IR_RFP

 

Price Benchmarking Analysis for Computed Radiography X-Ray Equipment Business in the APAC Region

Business Challenge
A Europe-based medical imaging systems manufacturer wanted to benchmark its costs, price, and service agreements against those of its competitors in the computed radiography X-ray equipment business.
Situation
The client wanted to stay ahead in the computed radiography x-ray equipment business, and was looking for advise on the costs, latest prices, and service agreement options adopted by its top three competitors in the APAC region.
Approach
We conducted telephone interviews (CATI) with market stakeholders to gain insights into the current and future cost and pricing scenarios and performed comparative evaluations of the identified competitors to understand the pros and cons of their strategies.
Impact
Based on our insights, the client was able to understand its competitors’ pricing strategies and prioritize service agreement aspects that are essential to obtain cost benefits, while restructuring its own cost and pricing strategies.
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