With rapid changes in clinical workflows and frugal approaches undertaken, medical device manufacturers are now required to find unique ways to humanize their innovations. At EMeRG, driven by our deep rooted commitment to solve the paradox of “innovation in isolation”, we focus heavily on new product introductions for medical devices. Our NPI research has helped clients develop and introduce med-tech products worth >$300Mn globally. Where traditional research fails to dig beyond the obvious, our ethnography backed contextual research methodologies allows us to focus deep into the customer’s daily lives to help unveil:

The actual “unarticulated” unmet needs

Rational and emotional needs

“Story-telling” to generate product ideas and improvements

The routine issues and challenges (and corresponding opportunities)

The hidden motivators and barriers (to purchase or adapt to a new technology)

Design, ergonomic, clinical and other workflow related needs

Opinions around the utility of a new product idea

Definite ideas and opinions on a new prototype

Actual brand perception

With medical device pricing strategies being weighed by clinical and economic outcomes, the need to demonstrate relevant evidence to providers, healthcare decision-makers and payers is on the rise. As med-tech firms push for improved market access through PPPs and risk-sharing models, demonstrating product value through superior outcomes would be of paramount importance. At EMeRG, we utilize our decades of understanding of clinical workflows, epidemiology and disease burden as well as health economics to help med-tech firms – Determine, Demonstrate, and Communicate Value Our methodologies include detailed analysis of disease epidemiology through national and hospital registries; as well as hospital records. Data mining also includes secondary sources such as ministry of health documents as well as primary sources including interviews with KOLs and other healthcare professionals. Typical methods of analysis includes non-parametric tests of hypothesis, regression modelling and predictive analysis (among others).

As medical device companies look to strike a fine balance between “value” and “premium” product categories, finding the right pricing strategy is a commendable task. Also with customers struggling to articulate the value they allocate to a particular feature in isolation, market research techniques play a key role in determine optimal pricing. EMeRG has helped med-tech clients with pricing of products such as tele-consultation services, ultrasound, vital signs monitoring, diabetes testing devices, endoscopic devices among others. Some of the key techniques used include:

Conjoint analysis

Gabor Granger

Van Westendorp pricing model

In several emerging markets where medical device sales are predominantly dependent on channel partners, formulating the right go-to-market strategy requires profound understand of the market dynamics. EMeRG continues to work with medical device companies to evaluate the optimal approach to reach end customers with distinct competitive advantages. In ASEAN and African regions where most medical device companies struggle with setting up direct presence, understanding distribution options requires in-depth understanding of customer segments, infrastructure and local competitive landscape. The key cornerstones of our GTM research includes:

Market challenge identification and validation

Needs-based customer segmentation

Competitive landscape evaluation

Distribution assessment including channel partner due diligence

Value proposition and messaging testing

Pricing assessment

Sales and services inclusions

Customer engagement and satisfaction tracking

At EMeRG, we frequently utilize industry trade shows and conferences as fact-finding missions. The process begins well before the trade shows with thorough background research on the various exhibitors and speakers including in-depth analysis of press releases to understand the strategic focus of market participants. A detailed information database and mapping of key participants is created to help augment our analysis of the next steps. This is aptly followed by in-person meetings with various stakeholders and representatives of key medical device manufacturers as well as hospitals. We utilize our keen sense of observation, innate to our DNA that has ethnography as a key building block. Conducted by highly experienced Analysts tracking various healthcare markets for years, each interactive session yields deeper insights into competitor strategies and focus areas. At EMeRG, we follow a strict protocol incorporating highest ethical norms for all conference research studies.

Through a structured, exhaustive and ethical analysis of the market forces, EMeRG is helping med-tech businesses anticipate competitive moves and support strategic decision making.

As part of our competitive intelligence services, we offer in-depth Win/Loss Analysis for med-tech businesses. The quantum of impact generated by a Win-Loss Analysis goes beyond the internal review of bid results. EMeRG’s focus on Win-Loss Analysis is to ensure a systematic framework that allows creation of an early warning system indicating shift in competitor offerings / strategies. While creating a distinct perceptual mapping and positioning of the OEM, our framework helps predict the future win-loss by customer segments across geographies.