How a HealthTech Company Revolutionized Its Product with Supply and Demand Analysis?

A well-known healthtech company that emphasizes providing innovative solutions for the healthcare industry wanted to analyze the demand & supply curve for their latest innovation. The company has been on the thrive for quite some time now and recently came through with another revolutionary product. Using artificial intelligence to analyze health data. After its full inception and production, the company authorities approached Research Nester for an in-depth supply and demand analysis that can help understand the chain better and provide the products accordingly.

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An overview:

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A healthtech company focusing on the incorporation of digital tools for better patient management and treatment.

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Recently came down with software that uses artificial intelligence in order to understand the health data of patients and provide quick observations and insights.

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The company wanted to understand the gaps between the supply and demand of this product in many facilities in order to mitigate them and increase its inception in the industry.

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Research Nester was thus bought into the limelight for supply and demand analysis and to provide the blueprint for growth and success.

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The Story

The healthtech company was established in the year 2010 by a group of young visionaries. The company focused on digitalizing the healthcare industry with major innovations. The recent ones include the Electric Records of patients and the software. The company’s software solutions are widely used in multiple hospitals and medical facilities. With time, the company also dabbled in artificial intelligence. The use of artificial intelligence for accessing patient data and analyzing the overall medical treatment is the newer feather to the cap. The company hence wished to understand the supply and demand chain for the product. The extensive understanding could help them produce and maintain their revenue over time. This is when the Research Nester was introduced to the picture. With supply and demand analysis consulting services, extensive research was done and major insights and guidelines were presented that could take the company to newer heights.

Our Solution:

Research Nester offered its supply and demand analysis consulting services solution to enable the organization to understand the market logistics and focus on mitigating supply and demand risks. Further, an in-depth study of artificial intelligence in the healthcare market was also done to understand the market scenario for the best. RNPL consultants suggested the following road map for a better future.

  • Determining the targeted applications and preferences of industries and accordingly prioritizing the production.
  • Having scope for scalability.
  • Assessing the strengths and weaknesses of the products.
  • Brainstorming the forces that affect the supply and demand patterns in the market.

By utilizing these analytical tools, the company could optimize its inventory, manage its suppliers, and figure out the current market trends to strategize its production.

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Results

The growth of the company in 2019 was 20%. After the end of the first quarter of 2021, Research Nester was brought into the picture to better understand the supply and demand logistics of the product and market. The analysts created a comprehensive action plan for the company’s supply and demand business model considering its offer to suppliers, the market price of its products, the margins, and the supply chain mechanism. The prevailing demand in the market, the end-use industries with high product requirements, and the current competitive landscape were also analyzed.
With a better understanding of the market mechanisms and crucial analysis of the current and future trends, the company was able to build a better market position and subsequently, profitable growth. All of it contributed to the maximization of its revenue to 32% in 2022.

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Swara Keni

Head- Global Business Development

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