Medical Technology Business investing in Enhanced Technology

In a Nutshell

The client's business is a multinational American hospitality and care organization. The company is involved in the manufacturing and distribution of medical devices. The business offers digital infrastructure, data analytics, medical technologies, and data support tools to aid in the monitoring, diagnosis, and treatment of patients by healthcare professionals. Additionally, it offers advice, training, consumables, accessories, training, and education.

The goal of the company's strategy is to meet customer needs by offering them better products and services. The goal of the company's strategy is to meet customer needs by offering them better products and services. To expand its service and product offerings in the market, the organization is engaged in research and development.

The Story

During normal treatments, C-arms are used for imaging by medical specialists in fields like diagnosis and surgery (including orthopedic, vascular, and cardiology). By doing fewer follow-up treatments as a result of this preventative approach, hospitals, ambulatory surgery centers, and private clinics can save money. One of the main problems with the product is its cost. In addition to the overall cost of the product, a few other costs must be considered, such as maintenance, safety equipment,& accessories.

Furthermore, our client was addressing the issue of overheating, which is seen as a serious fault in the product and is made worse by fierce competition. Additionally, the organization lacked the necessary data and capabilities to assess these and related issues.

Our Solutions

In order to satisfy growing client demand and to broaden their market reach and range of products, Research Nester's R&D team has concentrated hard on incorporating new technologies by proposing four major areas of focus: research the market's dominant competitors; carrying out a thorough strategic planning process. This includes topics like communication planning, SWOT analysis, ROI estimation, and success measurement. Furthermore, additional tools are added, and these projects are strengthened with a powerful change management program. It was determined through this initiative that new technology is meant to compete as a less expensive alternative to fixed equipment in hybrid operating rooms. As a result, medical professionals can treat patients without being concerned that the C-arm could overheat and delay the procedure. This effort revealed the possibility of a roughly 5-7% decrease in expenses.

Our business experts helped our client to understand current and future market trends, market estimations, and corresponding future market forecasts for every geographical region. This knowledge allowed the client to make informed financial decisions.

The study's purpose was to calculate the size of the global C-arm and mini-C arm market (in terms of volume and value), with additional market segmentation based on kinds. The goal was also to comprehend market dynamics, the competitive environment, and the attractiveness of the industry.

Our investment professionals continuously evaluated market growth and decline to help our clients make prudent, informed, yet adaptable investment decisions before developing new equipment.

According to Research Nester's studies, our customer would have had difficulties joining an industry that is extremely competitive. The intention was to give both growth elements and difficulties equal weight. Our team laid the groundwork necessary to increase its reach, market share, and revenue by assessing the level of competition in the market.

A thorough analysis of the company profile and the demand for the new product portfolio was done.

Research Nester closely collaborated with the client and gave in-depth research for future growth prospects of the new products globally. By assisting it in determining the critical measures necessary to attain significant market profitability.

We included both a qualitative and quantitative analysis of the market in our study. Market predictions for the past few years served as the basis for the quantitative analysis. The team at Research Nester assisted the company in creating new products with the necessary permission from the medical device manufacturer's leadership and saw a 20% rise in operational income as a result of the greater technological improvement in C-arms. The new regional operating model began to produce results right soon after being completely deployed:

Results

The overheating issue, which was the main drawback of the device, was quickly resolved by our client. Furthermore, the new technology assisted in regaining market share and maintaining the top rank. Recently, the company's distributor delivered multiple Imaging C-arms to a renowned university.

The collaboration with Research Nester aided in identifying the most valued consumers and their needs, which was the first step in choosing the right customer segmentation.

For the purpose of being a pioneer in intelligent interventional imaging, the company devoted 10% of its yearly income to research and development.

After only six months of collaboration, our client was able to redesign its product portfolio that could be used in a variety of clinical settings, including spinal surgery, traumatology, interventional radiology, cardiac surgery, cardiology, vascular surgery, orthopedics, and more.

The business went on to develop a number of other initiatives to meet the needs of its customers by offering them better products and services. By providing healthcare solutions that boost efficiency while cutting costs and other risks, streamlining operations, and increasing patient care in the operating room, we help our customer get closer to their goal.

Following the incorporation of new technology advancements, a 20% increase in operational earnings was estimated.

How a medical technology business focused on developing new devices with enhanced dose management skills to make them suitable for lengthy procedures?

In a Nutshell

The Story

Our Solutions

Results

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Vishnu Nair

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