LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on growth strategy engagement. This success story highlights how the experts at Infiniti Research helped a medical imaging market client meet rising quality expectations from both patients and regulators, enhance operational efficiency, and reduce downstream costs by 22%.
The global medical imaging market is expected to witness substantial growth over the coming years owing to technological advancements in diagnostic imaging devices and rising incidence of chronic diseases. In addition to this, increase in the number of medical imaging procedure and rising awareness for early diagnosis of clinical disorders are also expected to boost the medical imaging market growth. However, factors such as high cost of imaging modalities and unfavorable reimbursement scenario may hamper the medical imaging market growth. As such, identifying untapped markets and growth opportunities are becoming imperative for medical imaging companies to sustain a competitive edge.
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The Business Challenge:
A medical imaging company, based out of Germany, encountered a steep decline in its profits for two consecutive years. In order to cover up for the losses faced, they developed an advanced medical imaging device for the German market. It was designed to provide superior clinical and economic benefits but was procedurally very different from the technology already on the market. In order to make the new medical imaging device a success, the client wanted to devise a strategic business plan. They wanted to explore the untapped market and growth opportunities. In addition, they wanted to devise an efficient price tracking and estimation model to ensure a competitive advantage. They approached the experts at Infiniti Research to leverage their expertise in offering growth strategy engagement.
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The Solution Offered:
To help the client tackle the above-mentioned challenges and efficiently devise a growth strategy, the experts at Infiniti Research used a combination of technology assessment, sales intelligence, market potential, and competitive intelligence study. The engagement also involved identifying profitable business opportunities, evaluating growth strategies, and measuring profitability.
Infiniti’s growth strategy engagement helped the client to:
- Successfully develop a strategic launch plan for its advanced medical imaging device
- Assess profitable growth opportunities and maximize profitability
- Assess the profit potential of its new device for the next five years
- Devise a sound price tracking and estimating model
- Meet rising quality expectations from both patients and regulators
- Enhance operational efficiency
- Reduce downstream costs by 22%
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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 help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us