Over the years, the healthcare landscape has become more sophisticated with the presence of numerous competitors. Consequently, to retain their foothold in the market, large organizations across the healthcare sector have started devising effective market strategies to penetrate new and niche markets. Also, with the rising demand for healthcare services, businesses have started capitalizing on this opportunity to identify the potential customers and their specific needs. To identify opportunities across different target segments, organizations have started opting for effective market opportunity analysis solutions. Market opportunity analysis helps organizations gain a track of the market attractiveness and dynamics of the cardiovascular device market. Moreover, market opportunity analysis helps businesses perform a robust SWOT analysis and identify the presence of substitute products that are readily available and are good enough to satisfy the customer’s demands.
The market opportunity analysis solution offered by Infiniti Research helps the client assess and quantify the market to choose the right products and services. Also, the solution further helps the client understand the characteristics and purchasing ability of potential customers in the market. Consequently, the solution helped the client estimate the price of the products and services and provide value-added services at reasonable costs.
The Business Challenge
A leading cardiovascular devices manufacturer wanted to gain insights in terms of the usage of their solution in the healthcare environment. The primary aim of the client was to identify their competitors, benchmark their offerings, and tap potential markets. The client wanted to analyze the market for the cardiovascular device and devise effective strategies to penetrate different markets.
Our Approach
To gain an in-depth understanding of potential market opportunities, the client approached Infiniti to identify the custom market to be analyzed. To analyze the market scenario, Infiniti’s market opportunity experts carried out a blended research approach comprising of interviews and discussions with leading stakeholders in the medical devices sector. Also, Infiniti’s market opportunity experts compiled data across secondary sources such as hospitals, and healthcare reports. The experts also collated information through a set of presentation slides with analyst recommendations and breakdown of the markets by solutions, vendor names, and projected growth rate.
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Market Opportunity Analysis Solution Benefits
- Identify the list of major competitors and their solutions in the market
- Devise robust market strategy, sales plan, and benchmark the market performance
- Gain a comprehensive overview of the market, products, and stakeholders
- Identify the potential opportunities and capture near-term benefits
- Access relevant opportunities in the market and develop winning strategies
Benefits of Our Integrated Approach
In a span of eight weeks, the client was able to gain actionable insights on the use of cardiovascular devices within the healthcare segment. Also, the market opportunity assessment was able to help the client analyze the current technological landscape as well as assess alternative technologies in the cardiovascular device market. Moreover, the client also able to create robust market sizing models to enter niche/emerging markets.
