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 devices market client and explains how the client leveraged competitive intelligence solution to combat these roadblocks. Request a complimentary proposal to learn more about Infiniti’s market assessment solution.
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The medical devices market has grown promisingly over the last five years and our experts predict that it will continue to move forward at a substantial pace in the years to come. Growing prevalence of chronic diseases, rising geriatric population, and growing surgical procedures are driving the medical devices market growth. Besides, technological advancements and growing demand for innovative therapies are other factors propelling the growth of the medical devices market. However, the rising costs of medical devices and evolving healthcare regulations are expected to restrain the medical devices industry growth. To counter these rising challenges, major medical device market players are in the need to reduce costs and enhance quality, while maintaining profitability.
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Business Challenges Faced:
The client, a medical device services provider in Canada, offering 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.
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.
With Infiniti’s competitive intelligence solution, the medical devices market client acquired a baseline understanding of the competitive landscape.
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%
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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
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