Emerging Target Markets: Opportunity for a Fortune 500 Company’s Technology
Global Market Opportunity Assessment for a New Medical Device
A leading global developer, manufacturer and marketer of medical devices retained Strategy Inc. to determine the opportunity for an expanded market. The project included recommendations for business development activities and financial projections for emerging target markets including, Japan and China.
Strategy Inc. Proven Processes
At the direction of the Director of Business Development of a multinational company, Strategy Inc. performed a Market Assessment for a new medical device in emerging target markets, a customized project including the following Strategy Inc services:
- Market Analysis with an overview of market size and segmentation, projected growth rates, market drivers and trends for each target market.
- Competitive Analysis to provide an in-depth understanding of the competitive landscape, identifying the global and local competitors, from well entrenched to those poised to enter the market. The report included corporate profiles, a product feature set comparison and a competitive positioning analysis of current and emerging technologies.
- Clinical Adoption Assessment using primary market research collected through development and execution of a targeted survey to determine current clinical practice, preferred product feature set, pricing, and potential adoption of the new technology.
Strategy Inc. Generates Results
The Market Assessment presented to Senior Management was used to support revenue projections and build a case for recommending further product development. The product was approved for the next phase of development, which involved significant human and fiscal resources.
Other Projects for Similar Clients
Other projects that have been executed for similar clients looking to increase revenues in expanded target markets include, but are not limited to the following:
- Business Plan to determine the projected market for an orthopedic company seeking to expand the divisions with the greatest potential and significantly reduce or eliminate two divisions not meeting internal hurdle rates
- Market Analysis to establish the market size of an interventional cardiology product and assess the strategic alliance with a multinational corporate client.
- Clinical Adoption Assessment with key opinion leaders to identify the projected adoption of an innovative gastroenterology technology and test the financial incentives for a shift in therapeutic treatment options.