Client Overview
Edward Lifesciences is a leading medical technology company specializing in heart valve therapies and critical care monitoring devices. The company aimed to expand its market presence in India by identifying potential patients for premium heart valve therapies and understanding their decision-making process. The objective of the study was to conduct a demographic analysis to pinpoint target customers, assess insurance penetration, and study decision-making factors influencing heart valve replacement surgeries.
Our Approach
Phase 1: Comprehensive Demographic Study
Geographic Coverage: Conducted across 27 cities, including metro and Tier-1 cities.
Key Parameters Covered:
- Household Income and Savings Distribution.
- Age Segmentation (0-19, 20-40, 41-64, and 65+ years).
- Insurance Penetration Rate (₹5 lakh+ coverage with detailed breakdowns).
- Prevalence of Structural Heart Disease across different demographic segments.
- Specialized Healthcare Service Availability at a city and micro-market level.
- Influencer Mapping: Number of cardiologists and cardiothoracic surgeons by location.
- Consumer Spending Patterns segmented by income groups and lifestyle orientation.
Phase 2: Qualitative Interviews with Patients and Doctors
Sample Size: 540 respondents, including 324 patients and 216 doctors
Key Parameters Covered:
- Assessed how patients decide on surgery, brand preference, and influencing factors.
- Studied hospital selection criteria and financial considerations.
- Evaluated perceptions of heart valve surgeries and willingness to pay a premium for better outcomes.
- Evaluated doctors’ awareness and familiarity with Edward Lifesciences’ heart valve products.
Impact We Created
- Market Expansion Strategy: Provided Edward Lifesciences with detailed city-level data, helping identify high-potential markets.
- Targeted Marketing Insights: Enabled the company to refine marketing efforts by focusing on affluent senior populations with high insurance penetration.
- Improved Customer Understanding: Gained deep insights into patient behaviors, financial considerations, and doctor preferences, supporting tailored engagement strategies.
- Strategic Decision-Making: Equipped the company with critical insights to optimize distribution strategies and enhance brand positioning in the Indian healthcare market.