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BACKGROUND
CHALLENGE
IMPACT
The Client, a major international player in medical devices, develops innovative products addressing the vascular, urological, and oncological markets. Investigating new viable business opportunities, the Client was considering entering both the European and U.S. tracheostomy device market but needed a better understanding before making a corporate “go/no go” decision.
The Client sought an in-depth exploratory review of the tracheostomy market opportunity. Overall, the study objectives were to gain knowledge about the range of tracheostomy related products, competitive landscape, clinical applications, and to learn more about the users, stakeholders, and decision makers that make up this market. More specifically, the research was to be placed within the context of market size, potential growth, and emerg-ing trends.
SOLUTIONThe solution was designed utilizing a mix of secondary and primary research across 6 countries: France, Germany, Italy, Spain, UK and the U.S. In order to determine the drivers and barriers, awareness, trends, as well as address key issues related to the tracheos-tomy market, The MarkeTech Group (TMTG) performed a series of field studies, In-Depth Interviews (IDIs), and baseline surveys with potential tracheostomy device users that included pulmonologists, intensivists, ENT, general surgeons, and surgical nurse manag-ers. The information collected from these key potential end-users/decision makers allowed the Client to size the market opportunity and requirements for product performance, as well as identify key unmet needs for tracheostomy product innovation.
The study data provided the Client with insight into the purchasing patterns, preferences, and perceived needs of clinical and administrative buyers of tracheostomy devices. The ability to differentiate a new product in this market and the cost and obstacles to market entry were elaborated by country.
The Client came to a “go/no-go” decision on entry into the tracheostomy market based on TMTG’s analysis and recommendations. TMTG found that the information collected suggested that the Client’s original product concept had limited appeal based on users’ current needs and perceptions. Results listed the significant challenges that the Client would face upon entering this market and its success hinged on whether it could innovate specific solutions necessary to gain significant market share. Due to the findings, specific go-to-market strategies provided the Client with a roadmap for success and prevented costly missteps.
EUROPE / FRANCE3 rue Emile Péhant
44000 NantesFrance
Tel: +33 (0)2 72 01 00 80www.themarketechgroup.com
MARKET
METHODOLOGY MIX
South AmericaEurope
Qualitative ResearchStrategic Consulting
Quantitative
Asia
PROFILECLIENT TYPE
PROJECT CATEGORY
PRODUCT CREATION
LAUNCH PREPARATION
Medical DeviceMedical Imaging
Medical DiagnosticsMedical IT/eHealth
BiotechnologiesPharmaceuticals
Technology AssessmentOpportunity Analysis
Customer and Product RequirementsProduct Concept Testing
Segmentation AnalysisBrand Positioning
Packaging and Materials Testing
Go to Market PlanningPricing
MARKET RESEARCHCompetitive Intelligence
Partnering Analysis
BUSINESS PLANNINGConcept PlanningBusiness Models
Investigating a New Market for Proven Medical Technology
TECHNOLOGY GO / NO GO
North America