Cetas Healthcare | New Product Innovation Study For Remote ICU Monitoring Solution
A global firm specializing in customer insights and strategy for the medical devices industry
Medical Market Research Emerging Markets Business Analytics Desk Research Qualitative Quantitative Competitive Intelligence
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New Product Innovation Study For Remote ICU Monitoring Solution

20 Feb New Product Innovation Study For Remote ICU Monitoring Solution

  
OPPORTUNITY ASSESSMENT, PRODUCT SPECS DEFINITION AND MARKET POTENTIAL EVALUATION
Objectives
  • Assess current ICU dynamics, need-gap & challenges
  • Deep understanding of the ICU workflow across various hospital types
  • Value propositions for each customer type; define ideal product specs
  • Market potential and new revenue models
Client Profile
  • A global medical technology company manufactures and sells a broad range of medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies
Approach
  • Desk research for demographics, infra. and HR
  • In-depth interviews for current challenges, test and enhance product concepts
  • Work-out session to refine the product concept
  • Quantitative research for product testing
Insights
  • Myths’ about inadequacy of ICU beds were rejected
  • Length-of-stay strategy depends on the hospital type
  • “Provider” vs. “Self user” and “Absorber models”
  • Product specs for each segment were refined
Impact

The client had a clear understanding of the customer needs, product specs, preferred price and value and desired business models across all customer segments

“Total actual market potential exceeds 18K beds”