Market scan and best-in-class analysis to build digital ecosystem for a global medical device company

Find out how R2G assisted a global medical device company in market scan and best-in-class analysis to build a digital ecosystem.

Background

Our client, a global medical device company, wanted to build a digital ecosystem via multi-segment partnerships for the European market.

Their aim was to identify the best candidate to create business synergies in certain segments.

R2G’s approach

The project was divided into two main phases:

Phase 1. Digital solutions market Scan

• R2G conducted a market screening of 6 segments in target countries: activity, weight management, sleep management, online pharmacy, coaching, and telemedicine.
• Determined KPI and evaluated 300 solutions to create a shortlist in each segment for the deep-dive analysis.

Phase 2. Deep-dive analysis & solution recommendation

• Analyzed shortlisted solutions based on predefined metrics including company performance, product & service offerings, digital performance, marketing strategy, and potential business synergies for the client.
• Provided the solution ranking with highlighting key elements that included best-in-class features and value propositions for the client.

Results

Based on the learnings, recommend a phased approach and implementation plan.

Timeframe: 10 weeks

R2G Project Team: 3-4 consultants, varying team size during project engagement.