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BUSINESS CHALLENGE

The client, a global medical device company and one of the world’s leading suppliers in the wound care products; had engaged MarketsandMarkets for the study related to Global wound care management market. The study objectives included identification of partner(s) which can provide a Vacuum Pad ready off-the-shelf which includes all components and which could be potential partner for client’s projected launch of NPWT Pump. This study focused on assisting the client for the entry and penetration of client’s existing products into the new geographic markets.

MnM APPROACH

1. Methodology Adopted by MnM:

• Suppliers and distributors of Vacuum pad and NPWT key players were identified by performing exhaustive primary and secondary market research. Authentic secondary sources like regulatory framework, government databases, annual reports of companies, corporate presentations, paid data sources (Factiva, Hoovers, Bloomberg) were screened along with MnM Repository to gain qualitative global insights.
• Followed by that, a detail country specific competitive intelligence was targeted to identify potential partners for client’s projected launch of NPWT pump. The analysis about market trends, key players and partnership strategies was carried out conducting primary interviews with industry experts (Demand side- Surgeons, Product Development Scientists/Researchers, and Supply side – CXOs, Production Managers, Product/ Sales/ Purchase/ Marketing /Business Development Managers, Business Unit Heads other KOLs.)

2. Actual Solution Provided:

• Identification of the suppliers of Vacuum Pad and current NPWT players
• Need-gap analysis for potential partners - Portfolio Mapping, Product Features Analysis
• Capability assessment for delivering qualitative, ethical and professional standards
• Analysis for most probable partners- inputs to leverage strategic and operational synergies
• Key Insights on advanced wound care management market- market dynamics, trends and burning issues

VALUE DELIVERED

The strategic recommendations and business insights provided by MnM, helped client to formulate strategy to identify mutually beneficial partners for their projected product launch. MnM was also able to provide its client an in-depth understanding of suppliers and distribution intelligence to expand the wound care business in new geographic regions.