It is estimated that currently around 30% of the global death is caused by cardiovascular diseases – of which heart diseases play a significant part. The growing prevalence of heart diseases and arrhythmia disorders has fostered the adoption of advanced CRM (cardiac rhythm management) technologies for the effective treatment of these conditions. CRM involves the diagnosis and treatment of disorders that affect the heart’s electrical systems; thereby, causing rhythm problems. Elevated cholesterol levels, cigarette smoking, diabetes mellitus, obesity, and hypertension are some of the key factors augmenting the adoption of CRM management devices among end users.
On the contrary, lack of awareness about sudden cardiac arrests and the high cost of medical devices is expected to hamper the adoption of cardiac rhythm management devices among end users. Medications, pacemakers, implantable defibrillators, invasive electrophysiological procedures, and biventricular pacemakers are the possible ways through which heart rhythm disorders can be treated and managed.
The Business Challenge
A global manufacturer of medical devices was facing challenges understanding the market landscape for cardiac rhythm management devices in the target region. Furthermore, to gain more insights into the growth prospects for this market space, the client wanted to assess the competitors’ product portfolio and product positioning in the market space.
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Our Research Methodology
To offer a holistic overview of the market landscape, Infiniti’s competitive intelligence experts followed a two-step research methodology comprising of interviews and discussions with purchase managers, influencers and decision makers from health care group purchase organizations, market stakeholders, and industry experts in the CRM market. Additionally, the experts also collated information from various secondary sources to develop the contact details of key market stakeholders.
Infiniti’s experienced competitive intelligence team tracked recent developments and innovations in the market space through secondary journals and reached out to relevant stakeholders such as industry experts, KOLs, device users, procurement experts to understand their views on market. Our competitive intelligence team also spoke to stakeholders responsible for sales and distribution of these devices to understand how the market would grow in short and long term and also to validate market size and opportunity model developed for this segment.
Our Competitive Intelligence Solution Helped the Client
- Analyze the key features that are required by buyers
- Obtain market and competitive price and sales information on the CRM market
- Identify the potential competitors in the market and their products under focus
- Gain information for each company at single, dual, and triple chamber product levels
Benefits of Our Integrated Approach
In a span of nine weeks, the client was able to assess the market landscape in terms of the total units sold, average selling price, total revenue, and percentage mix. The competitive intelligence assessment also helped the client analyze product positioning categories in terms of the basic, value, core, and premium.
A must-read competitive intelligence case study for strategy experts and decision makers looking to understand the market landscape for cardiac rhythm management devices.
