A Surgical Instruments Manufacturer Used Competitive Pricing Analysis Tools to Assess the Pricing Strategies of Competitors

The medical landscape has been witnessing extraordinary change due to the increasing number of players entering the surgical instruments market space. A leading surgical instruments manufacturer was facing challenges in understanding the pricing strategies of their competitors. The client wanted to perform a comparative pricing analysis and understand the competitive pricing structure to effectively compete with the competitors. The client also wanted to improve negotiations with the suppliers and understand the optimal margins, prices, and product selection criteria to increase sales and profit margins.

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Competitive Pricing Analysis Enables a Surgical Instruments Manufacturer to Stop the 'Pricing Slide' ...

Competitive Pricing Analysis Enables a Surgical Instruments Manufacturer to Stop the 'Pricing Slide'. (Graphic: Business Wire)

The process of manufacturing medical devices has proven to be expensive due to which hospitals are trying to find alternatives to save costs. To sustain themselves in the competitive market space, the surgical instruments manufacturers have started relying on competitive pricing analysis solutions to understand the pricing strategies of their competitors. The manufacturers can make their pricing decisions based on their competitors pricing and stay ahead in the market.

According to Infiniti Research’s competitive pricing analysis experts, “The client was able to track, compare, and analyze the pricing models for surgical instruments. The engagement further assisted the client in comparing the selling price of the same products with that of the competitors.”

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This competitive pricing analysis solution provided benefits that helped the client to:

  • Track and compare real-time competitive pricing information
  • Gain actionable insights by analyzing the competition
  • Improve negotiation with suppliers, optimize pricing on a continuous basis
  • Understand current pricing strategy and track price changes
  • Evaluate market behavior and make informed business decisions

This competitive pricing analysis solution offered predictive insights on:

  • Tracking, comparing, and analyzing the pricing models for surgical instruments to determining the best possible selling price for the products
  • Comparing the selling price of the same products with that of the competitors
  • Devising smart pricing strategies to attract more buyers

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View the competitive pricing analysis https://www.infinitiresearch.com/casestudy/competitive-pricing-surgical-instruments

About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.

With 14+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.