Explore how R2G consulting team conducted market and competitor analysis to define market entry strategies for the remote patient monitoring market for a top global pharmaceutical company.
The remote patient monitoring market has been growing rapidly in the last few years. The global pandemic escalates the demand and adoption of remote monitoring solutions, but it is challenging to succeed due to the complicated digital health landscape and low entry barrier.
Our client, a leading global pharmaceutical company, asked R2G to conduct a market analysis to define their market entry strategies for the remote patient monitoring market responding to this tremendous demand.
Our team developed a customized approach catering to the client’s needs based on a roundtable discussion:
Market Insights – performed a global and regional analysis of the remote patient monitoring market, including key market players, competitor landscape, top 10 providers per region, and the most relevant competitors’ profiles.
Market Potentials – evaluated the market attractiveness in selected countries by regulations, reimbursement status, remote patient monitoring use cases, and adoption rates.
Competitor Analysis – conducted an in-depth analysis of key market players for their digital product portfolios, business model, revenue streams, and key performance figures.
Options and Recommendation – developed options of how the client could bring remote patient monitoring into their core business to create business synergies and recommendations on implementation and market entry strategies, including country selection.
R2G outlined actionable strategies for entering the remote patient monitoring market with a robust ecosystem building by understanding the client’s strengths and critical success factors in today’s market.
Timeframe: 11 weeks
R2G Project Team: 2-3 consultants, varying team size during project engagement