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The client, a medical device services provider in Canada, 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.
COVID-19 has had a severe impact on the medical devices market. This has even impacted the supply chain and manufacturing activities. Contact us to know how our COVID-19 business continuity support solutions can help medical device companies to respond, recover, and thrive in the post-COVID-19 era.
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. 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 increased sales by 43%.
Also, the client was able to:
- Identify technologies and processes leveraged by their competitors to tackle security and operational risks in the industry
- Identify the top medical devices outsourcing companies to help them at the time of immediate requirements
- Meet their immediate priorities and attain faster time to market
- Reduce operational cost by 23%
- Understand their competitors’ investment into R&D and new technologies
- Make informed investment and commercial decisions in a fast-moving market
The coronavirus outbreak has affected businesses worldwide, and the medical devices market is no exception. Request more info 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.
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