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Case Study: Market Research - American 3D Medical Imaging Technology

Case Study: Market Research - American 3D Medical Imaging Technology

Overview

American developer of innovative 3D imagining technology offering diagnostics to orthopaedic and podiatry specialists makes sales in Australia after extensive market research.

Our client through one of our economic development agency partnerships, requested our assistance in conducting focused market research on the medical device sector in Australia. The company was seeking to assess the viability of doing business in Australia, gain a better understanding of their competitor’s activities and obtain clarity on their regulatory requirements to develop and implement a future market entry strategy.

The objectives of the project were to:

  • Analyse the Australian medical devices sector;
  • Identify all regulatory requirements that would impact their ability to serve the market; and
  • Conduct an analysis of their major competitors

This specific project required our office to conduct extensive primary and secondary market research especially with regard to the regulatory environment.

Our company’s prior expertise in analysing the medical devices sector and our established network of industry contacts in this space ensured that all intelligence gathered was up-to-date and accurate. We leveraged our secondary research to assist in discussions and meetings with in-country experts.

The end result was a detailed document responding to all specific queries posed by the client with further industry expert introductions should our client have wished to secure the services of a regulatory consultant to commence the product registration process in Australia.

Outcomes and Results

TGA-registered.jpg

Our client now has a presence in the Australian market as a direct result of our focused market research assistance.

The Product was registered and approved for sale in Australia by the Australian Department of Health’s Therapeutic Goods Administration and soon after the company’s first sale to a Melbourne based surgeon (£114,926) was reported.

As our client’s CEO said in their official announcement of this sale:

“This specific product was introduced as a global product, to provide a revolutionary tool to enhance diagnosis and treatment worldwide, crossing the equator for the first time to deploy a unit in Melbourne, Australia, firmly validates the above vision.”

About this Case Study

ServiceMarket Research
IndustryMedical Device