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The client, a medical device services provider in Canada, that offered advanced CT scanners and diagnostic ECG machinery faced growing threats from competitors in both product development and go-to-market activities. Also, the medical devices market client faced difficulties in anticipating competitors’ activities, understanding past market disruptions, and planning for future market opportunities and disruptions. Besides, the medical devices market client was unable to assess the effectiveness of competitors market positioning.
Moreover, rapid technological advancements and low barriers to entry made it easier for new medical devices companies to enter the Canadian market. As a result, the client witnessed a huge decline in its revenue. The medical devices market client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering competitive intelligence solution.
During the COVID-19 crisis, it is critical for companies in the medical devices market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
With competitive intelligence study, the experts at Infiniti Research were able to uncover the key strategies of relevant competitors, pricing tactics, relevant strategic partnerships, product sales strategy, and product development challenges. Besides, a company profiling and analysis was conducted to gather comprehensive insights into the top medical equipment companies in Canada. Factors such as competitors’ investments, business models, end-customers, and strengths and weaknesses were taken into consideration.
Also, by conducting customer intelligence study, we provided actionable insights to the client relating to the key criteria that drove medical devices vendor selection, how customers viewed various vendors and, other components of their purchase decisions.
With Infiniti’s competitive intelligence solution, the medical devices market client acquired a baseline understanding of the competitive landscape and established an ongoing intelligence operation affording greater strategic agility in the face of rapid innovation.
Also, they were able to identify technologies and processes leveraged by their competitors to tackle security and operational risks in the industry. Our experts also helped the client to identify the top medical devices outsourcing companies to help them at the time of immediate requirements. The medical devices company was able to meet their immediate priorities and attain faster time to market. This helped them to reduce operational cost by 23%.
Besides, the medical devices market client was able to understand their competitors’ investment into R&D and new technologies. By gathering comprehensive insights into the market and their competitors’ strategies, they were able to revamp their processes and efficiently tackle the industry challenges. Competitive intelligence, combined with our industry insights, positioned the medical devices market client to make more fully informed investment and commercial decisions in a fast-moving market.
For an in-depth market analysis on how COVID-19 will impact the medical devices market and data-driven insights to plan your next moves, request more info here.
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