A leading developer and manufacturer of surgical drapes and covers wanted to conduct a feasibility study for market penetration in a specific country. The firm wanted to identify its most profitable products by measuring demand across various sterile equipment. Realizing the need for a competent research partner to garner vital insights into the healthcare system of the country. With the help of our experts, it was able to achieve its goal and boost its profit margins. Find out how using Netscribes’ market opportunity assessment study, they were able to make data-backed and accurate decisions in their target country.
Objective and challenges
The client is a leading international developer and manufacturer of surgical drapes and covers. Their primary goals were to understand:
- The healthcare system, value chain, healthcare facilities, and major challenges in the targetedcountry.
- Demand and prices of various sterile equipment covers used in the operating rooms of multi-specialty hospitals
- The distribution process, shipping, taxes, and bulk discounts in this space.
- Procurement processes of hospitals and challenges faced by the operating room staff.
Approach and solution
Netscribes conducted a comprehensive and detailed market opportunity assessment study using both secondary and primary research methodologies.
- This required obtaining vital data pertaining to the country’s healthcare system, including total healthcare spending, types of hospitals and their facilities, and location of those hospitals. The key distributors of sterile equipment covers across the country were also interviewed to determine the distribution process, shipping, taxes, and bulk discounts in this space
- Netscribes identified the number of beds in the hospital, types of operation theatres present in each hospital, types of surgeries performed, and consumption records of vital instruments such as microscopes, C-arm, mini C-arm, ultrasound probe, laparoscopic video cameras, among others.
- Through the exercise, we identified the city out of the top 8 cities with hospitals having a specific number of beds and advanced healthcare infrastructure.
Results delivered
Measuring the demand for sterile hospital equipment and consumption rates, it was concluded that among these sterile equipment drapes, demand for C-arm devices drapes was the highest, followed by ultrasound probe covers drapes.
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Benefits
Geared with these insights the client was able to identify the most profitable products and drive sales, resulting in higher profit margins. Moreover, these insights helped the client craft effective strategies to promote their most demanded products. According to the client’s Head of Sales and Marketing, “It was a very detailed presentation and was very helpful to devise our business strategies for the Indian market.”
