Innova Care Concepts
Unlocking new opportunities: Innovolo provides Innova Care Concepts with insightful market research to build a business plan with reduced risk in a post-COVID world.
.
Background
Innova’s mission is to enhance quality of life through innovation. The firm has designed unique and revolutionary products including the Integralift and the AirGlide360 inset hoist tracking system - two examples of innovative products which facilitate a better quality of life without looking mechanical or unsettling.
Other products include Interlude hospital beds and Somlent pressure care mattresses that deliver the finest solutions in high dependency units or palliative care settings. The Innova team are always looking for opportunities to develop equipment which is as easy to use as possible so that the caregiver can do whatever they need to with no hassle, allowing them to dedicate all their attention to the patient.
The Challenge
Innova were keen to explore opportunities to broaden their existing product portfolio as part of a strategy to enter new markets and extend their existing market penetration. They had new product concept in mind but needed to be confident about its potential.
Like many firms, their busy team needed help understanding the external environment and, operating in the healthcare sector, they wanted to be able to assess the extent to which the landscape had changed as a result of Covid-19. In particular, they were interested in establishing the size and scope of the patient care market over the next three to five years to inform their product development decision making.
Uncertainties
How We Helped
Innovolo's experienced team were able to develop a methodology which would allow us to carry out extensive market research, bringing together quantitative data with qualitative research to produce a report which met the client’s needs, and which could provide clear evidence of the opportunities in the market and the barriers to success.
The final report used extensive market research within the healthcare sector and sub-sectors including patient care and public health to develop detailed future forecasts. We assessed competitors and supply chains to identify opportunities which could not be met by existing manufacturers alone and we produced business cases to explore solutions and to bring the quantitative data to life.
We also evaluated the procurement landscape and carried out research to understand the market entry strategies which were likely to deliver the best results. Using our report, Innova have been able to identify new opportunities for sustained business development.
What used to take us months now gets done in a matter of days
