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Client Consult Problem Statement:

MnM’s client, a leading provider of surgical instrument tracking solutions, was interested in estimating market in terms of volume (installed base) as well as value. In addition to this, in-depth end-user analysis was client’s special focus area. The scope included study of market dynamics, in-depth market and technology assessment of tracking solutions, market forecast for 5 years, identification of market share of key players, regional level analysis of each product segment and competitive landscape.

Solution Provided:

  1. Methodology Adopted by MnM : MnM conducted multi-level, qualitative & quantitative study with a constructed sample of end users (including sterile processing managers, directors, purchase managers, IT professionals) as well as industry professionals. Key parameters influencing the market are identified and their trends were studied to get the market numbers. At every level the estimates were verified with industry experts (both from demand and supply side) and finally by MarketsandMarkets domain experts. Both, top-down and bottom-up approaches were used to use to derive at an unbiased data. MnM analyzed current & forecast quantitative market information, and developed deep-dive qualitative insights into industry trends & dynamics across each of the target segments
  2. Actual Solution Provided:
  • Market sizing and forecast for instrument tracking solutions by facility type, technology, component
  • Analysis of the market trends and dynamics across different states in the U.S. leading to the overall market size and growth in each state
  • Identified companies in the market including financial strengths and growth strategies
  • Detailed analysis of end-user need-gap, preferences, product features and insights into the selection and adoption of instrument tracking solution products
  • Strategic insights for market penetration and positioning

Value Delivered:

The study assisted the client in knowing the market potential and dynamics, studying its competitors and their strategies and most importantly, understanding key stakeholders and customer requirements better. It also offered the client an understanding about the satisfaction levels and concerns amongst hospitals with regards to their currently installed systems. This helped the client to develop better solutions and devise the best possible market penetration strategies.

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