Summary
Evalueserve completed two primary market research projects for a leading multinational medical device company. First, they knew that a Korean stent company was about to be acquired by an APAC-based medical giant and wanted to understand the dynamics surrounding that acquisition and how it would affect the market.
Second, the client wanted to understand the commercialization strategies of three Chinese players in the scope space that had recently received 510k approval in the U.S., meaning they were planning their debuts in the U.S. market.
Evalueserve’s experts conducted in-depth primary interviews with knowledgeable stakeholders, including industry leaders and ex-employees at some companies in question, to gather answers to the client’s questions and more. The client now has a thorough view of anticipated market shifts and can make strategic plans for the next two to three years accordingly.
PROJECT #1:
The Challenge
The client, a leading multinational medical device company, knew there were plans for a Korean stent company to be acquired by an APAC medical giant. After the acquisition, the Korean stent company was expected to become a stronger competitor and market player.
The client wanted to understand the following:
- What would happen to the Korean stent company’s existing distribution deals after the acquisition?
- How was the acquisition expected to affect the Korean stent company’s product portfolio?
- Where would the Korean stent company be housed within the APAC medical giant’s product portfolio?
- Going forward, what were the strategic plans of the Korean stent company and the APAC medical giant?
The client wanted answers to those questions and to understand the market dynamics because they are themself a leader in the stents market. The client wants to protect their market share and stay aware of how the competition plans to move. However, the answers to those questions were not readily available on public portals.
Additionally, the client was reluctant to be seen actively chasing such information and could not conduct competitive intelligence efforts in any language other than English. Evalueserve’s team had the necessary language abilities and prior experience finding similar answers through primary research, so they were enlisted to conduct primary and secondary research.
Our Solution
Evalueserve’s experts conducted in-depth primary interviews with ex-employees of the Korean stent company, subject matter experts, and industry insiders to gather thorough answers to the client’s questions.
Evalueserve also provided insight into the risks associated with acquiring the Korean stent company and whether the experts thought the valuation was high or low.
Evalueserve’s team compiled their findings and research into a document detailing the Korean stent company’s offerings, strategies, global presence and expansion plans, organizational structure, and more. Evalueserve also provided a readout and recommendations to the client’s leadership team based on the findings.
The client saw strategic benefits from the research delivered in this first engagement, so they wanted to quickly start another project with Evalueserve to continue to evolve and expertly plan their strategy.
PROJECT #2:
The Challenge
The client wanted to understand the commercial strategies of three Chinese companies in the scope space. It was clear from various indicators, including 510(k) approvals from the U.S. Food and Drug Administration (FDA), that those companies were planning to enter the U.S. market. The client, who is already a major player in the U.S., wanted to understand the following:
- Why do each of those companies want to enter the U.S. market?
- What are their entrance strategies?
- What do their U.S. distribution plans look like?
Our Solution
Once again, Evalueserve’s team conducted lengthy, detailed primary interviews with industry leaders and people with the inside scoop on the thinking of the three Chinese companies.
With the insights gathered in these interviews, Evalueserve pieced together a complete view of the expansion plans and strategies of the three Chinese companies preparing to enter the U.S. market.
Business Impact
Thanks to the primary market research and interviews Evalueserve conducted, the client has a comprehensive view of potential new threats and the market conditions they’ll be dealing with in the next few years. This crisp understanding enabled the client to create an informed defensive strategy to handle these incoming challenges and shifting market dynamics. Armed with all the facts, the client is well-positioned to maintain its status as a market leader.