LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has partnered with several global companies across industries to help meet their strategic objectives and implement seamless route-to-market strategies through turnkey solutions. Their latest success story outlines the key business challenges faced by a medical equipment manufacturing firm and explains how the client leveraged product research solution to combat these roadblocks. Request a free brochure to learn more about Infiniti’s product research solution.
The medical equipment manufacturing industry is projected to exhibit substantial growth through 2023 owing to advancements in science and technology. However, uncertainty lies ahead as well. Quality control issues, stricter compliance, data security issues, localization hurdles, and rising prices are increasing challenges for companies operating in the medical equipment manufacturing market. This challenging market environment pressurizes medical equipment manufacturing companies to streamline operation and reduce manufacturing costs while maintaining profitability.
Ensuring business continuity a challenge due to COVID-19? Request a free proposal to learn how Infiniti is helping companies around the globe assess the business impact of the coronavirus outbreak and plan for business revival post-COVID-19.
Business Challenges Faced:
The client, one of the largest firms in the medical equipment manufacturing market, based out of Italy, faced significant losses due to a sudden drop in the product demand. Also, the ongoing cost pressure due to intensifying competition made it difficult for the medical equipment manufacturing firm to compete with low-cost manufacturers. To cover up for the losses, they wanted to prevent product recalls and drive sales. However, this required investing into strict quality control, complying with strict regulations relating to product safety, investing heavily into various security protocols, and setting the right price for medical equipment. Also, it required gathering comprehensive insights into market transformations and revamping business models accordingly. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering product research.
The Solution Offered: To cater to the specific needs of the medical equipment manufacturing firm, we used a combination of various research approaches and advanced tools to provides end-to-end research-driven solutions. Our experts also provided actionable and timely insights based on qualitative and quantitative market research. Our ability to perform consumer research helped the client to understand their customers’ requirements regarding medical equipment and offer customized products that resonate well with their target audience.
Infiniti’s product research solution helped the medical equipment manufacturing industry client to:
- Prevent quality control issues and subsequently reduce product recalls
- Ensure adherence to product safety standards and regulatory compliance
- Collect, secure, and manage vast amounts of sensitive data
- Achieve performance improvement and enhance operational efficiency
- Achieve cost reduction in manufacturing processes
- Achieve performance improvements in production, asset management, and inventory operations
- Reduce product recalls by 23%
- For detailed insights, read the complete success story here.
Wondering how your business can benefit from our product research solution? Request more information from our experts.
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