Sales of medical devices have grown significantly in Asia as compared to Europe and the US. In China, some hospitals and clinics have been installing high-end devices and replacing old technology with more advanced products. But due to the strong competitive nature of the industry, the sales process is usually long and tedious. Our client needed a definite marketing strategy to make clever judgments depending on the types of products and hospitals.
Solidiance assisted the client with a three-phased approach. First, Solidiance conducted a thorough study to determine the installed base of medical devices (X-rays, CT scanners, MRIs, ultrasounds, nuclear medicine and patient monitoring systems) throughout all joint ventures and public hospitals in China. Details such as usage per day, the age of devices, replacement cycle, brand feedback were obtained. Second, Solidiance performed a competitive study of other brands including marketing and sales activities, pricing and aftermarket servicing strength. Third, Solidiance also studied hospitals buying processes, profiled procurement department, decision -making and switching factors.
Solidiance offered a full-fledged China market study to help our client build market share leadership in high growth segments and reduce the lead time it takes to close sales.
Today our client has been able to gain tangible sales in China level III hospitals thanks to our work, and has kept our approach as their internal template for market assessment in Asia Pacific.