Summary
A global healthcare company wanted to monitor its competitors and the latest technologies in the consumer healthcare domain. Evalueserve created a continuous monitoring program for the healthcare company, providing monthly patent monitoring and quarterly in-depth market reports with strategic insights and innovation news.
The continuous monitoring program improved the client’s intellectual property awareness, fueling a more robust innovation strategy. The monitoring helped the client keep up with the latest trends and technologies and better understand its positioning in the consumer healthcare space.
The Challenge
A global healthcare company tried to monitor competitors and emerging technologies in the consumer healthcare space internally. It became apparent they were not equipped to monitor all the data and information out there. The healthcare company asked Evalueserve to compile information from different databases and deliver digests of the most important news and developments.
Our Solution
Evalueserve implemented a continuous monitoring program focusing on technology, patent filings, trends, and competitor activity in the consumer healthcare domain. Every month, we screen patent references in the healthcare domain and provide an overview of the most important and relevant findings. Once a quarter, Evalueserve shares a quarterly report that goes more in-depth, assessing industry developments in the following areas:
- Technology advancements
- Understanding the science/concept behind new technologies
- Clinical efficacy/benefits of the solutions
- Technology readiness level of the patented innovations
- Competitor strategy
- Who are new entrants in customer segments – SMEs, start-ups, academia?
- Competitor activity – key benefit areas, IP strategy
- Key people/opinion leaders
- Global footprint of patent activity
Business Impact
Regular monitoring of IP and market developments keep the healthcare company up to date with the latest competitive and technological developments. Monthly updates and quarterly reports circulated among the research & development (R&D) and innovation teams sensitize them to the company’s market position.
The patent knowledge helps the client build a stronger, more data-driven innovation strategy. They are now structured and organized to ideate and consider market trends and competitors’ activity in their decision-making. The global healthcare company also has ideas of what the competition’s next big products will be and is equipped to decide whether they want to respond.