See how Kx Advisors helped a fortune 500 medical device company reverse a market share loss by developing a strategy for a high-growth site of service
A Fortune 500 medical device company recognized that a segment of their surgical implants business was losing market share. The company hypothesized that, while its sales remained historically strong in in-patient settings, it was losing share to competitors as procedures shifted to hospital outpatient and ambulatory surgical center (ASC) settings. The client asked Kx to assess the current state of the business in outpatient settings, and develop a strategy to regain share parity.
How Kx Helped
Kx supported this client by first developing a quantitative market map and model for the entire product category, including inpatient and outpatient setting. We informed this model with extensive qualitative and quantitative market research to determine sites of service where the client’s business was strong, where it was weak, and how it stacked up against competitors. We further segmented surgeons’ customers and identified the core problem—the surgeons driving the growth in outpatient procedures were not our client’s customers. To address this issue, Kx developed a comprehensive strategy with products and services uniquely designed for the outpatient setting. The company stood up a stand-alone outpatient division, and is regaining share in this growing channel.