The medical devices market has witnessed promising growth recently due to the increasing prevalence of chronic diseases, technological advancements, and rising demand for innovative therapies. However, the low barriers to entry and rapid innovation are creating an extremely challenging competitive environment in the medical devices market. How can market players gain a significant strategic advantage over competitors? Infiniti’s competitive intelligence solutions enable medical device companies to understand their competitors’ strategies and stay a step ahead. Companies can also develop strategies to reduce costs, enhance quality, and maintain profitability. To leverage Infiniti’s competitive intelligence solutions and gain an unparalleled competitive advantage in the medical devices market, request a free proposal.
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Competitive Intelligence Solutions for a Medical Device Services Provider: Our Approach (Graphic: Business Wire)
"Growing prevalence of chronic diseases, rising geriatric population, and growing surgical procedures are driving the medical devices market growth. However, the rising costs of medical devices and evolving healthcare regulations are expected to restrain the medical devices industry growth," says a medical devices market expert at Infiniti Research.
The client, a medical device services provider in North America, faced growing threats from competitors in product development and go-to-market activities. The client also faced difficulties in anticipating competitors’ activities, understanding past market disruptions, and planning future market opportunities and disruptions. Additionally, the rapid technological advances and low barriers led to increasing competition in the medical devices market. Therefore, the client approached Infiniti’s experts to leverage their expertise in offering competitive intelligence solutions. During the five-week engagement, the medical device services provider sought to anticipate competitors’ activities, assess competitors’ market positioning effectiveness, and gain a strategic advantage in the medical devices market.
Infiniti’s competitive intelligence solutions experts developed a comprehensive approach to assist the client, that included the following:
Competitive intelligence study to uncover the key strategies of relevant competitors, pricing tactics, and relevant strategic partnerships
Company profiling and analysis to gather comprehensive insights from top medical companies, while taking into consideration factors such as competitors’ investments and end-customers
Customer intelligence study to provide actionable insights to the client relating to the key criteria for medical devices vendor selection
Speak to industry experts to gain a comprehensive understanding of how Infiniti’s competitive intelligence solutions help medical devices market players to understand the competitive landscape and strategize for potential market dynamics.
Infiniti’s competitive intelligence solution enabled the medical device services provider to understand the competitive landscape and establish an ongoing intelligence operation that provided strategic agility in the face of rapid innovation. They also identified technologies and processes leveraged by competitors and identified the top medical devices outsourcing companies to help them at the time of immediate requirements. The medical devices company successfully met their immediate priorities and attained faster time to market, consequently reducing operational costs by 23%. Additionally, the client understood their competitors’ investment into R&D and new technologies and anticipated competitors’ strategies. Infiniti’s competitive intelligence solutions positioned the medical devices market client to make more fully informed investment and commercial decisions quickly.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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