As the prevalence of cardiac diseases is slowly outpacing the need for conventional devices, manufacturers in the market have started shifting towards innovations to monitor the intensity of the diseases effectively. Electrocardiography is one of the most prominent medical devices, which is used to monitor the muscular and electrical activity of the heart within a stipulated timeframe.
The increasing incidence of cardiovascular diseases, technological advancements, and rising preference for home care treatments are some of the factors augmenting the adoption of cardiac rhythm monitoring and management devices. Though the market is witnessing a surge in the adoption of such medical devices, it is hampered by the lack of skilled healthcare professionals with expertise in electrocardiography and limited reimbursements for remote cardiac monitoring devices. With years of expertise in carrying out effective market assessment studies, Infiniti’s industry experts offer actionable insights into the market landscape in terms of the market share, competitors, and average selling prices.
The Business Challenge
A multinational biomedical technology company was facing challenges assessing the market landscape for cardiac rhythm monitoring and management devices in the target region. The client wanted to understand the market landscape in terms of sales units and revenues, average selling prices, and the market share.
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Our Research Methodology
To gain an in-depth understanding of the market’s landscape, Infiniti’s industry experts carried out a market assessment study comprising of interviews and discussions with group purchase organizations, purchase officers, buyers, vendor managers, channel partners, end-users, and members of regulatory bodies. The market assessment experts also relied on proprietary and other open secondary sources such as paid industry databases, media platforms, news aggregators, industry forums, and company presentations.
Our Market Assessment Helped the Client
- Estimate the average selling price for the devices by value chain
- Evaluate the total sales units and market shares
- Identify key decision makers for the purchase of devices
- Assess key purchase drivers for GPOs
Benefits of Our Integrated Approach
In a very short timeframe, the client gained a holistic overview of the market in terms of the product segments such as implantable cardioverter-defibrillators, cardiac resynchronization therapy, and implantable cardiac monitors. The market assessment study also offered insights into the market landscape in terms of the sales units and revenues, average selling prices, and market share.
A must-read market assessment case study for strategy experts and decision makers looking to assess the market landscape for cardiac rhythm monitoring and management devices.
