Brand and SKU-level Tracking for Medical Device Markets
Making strategic decisions at the brand level with confidence can be challenging, especially when the competitors’ pricing structures are less known. While iData’s healthcare market reports help you understand and act upon overall trends and investment opportunities with real data, you might need extra information to see the movement of market shares, pricing or unit sales at the level of your competitors’ brand or SKU.
MedSKU is an accurate brand-level custom solution that provides a level of detail for a go-to strategy of medical device companies of any size. By analyzing competitor sales data on a quarterly or annual basis, MedSKU delivers advanced market analytics and in-depth SKU and brand-level pricing analyses. Built on timely and granular data, MedSKU displays key metrics including unit volume, ASPs, and revenue within an interactive dashboard.
How is an Accurate Competitor Brand Data Captured?
MedSKU uses a sample of 1700+ reporting hospitals and ambulatory surgery centers (ASCs) to gather purchase order data and sales information. After combining this with rigorous primary research, ongoing for over a decade, MedSKU is able to deliver a cross-verified and highly accurate depiction of the market, unlike any other. This is used to identify growth opportunities and guide strategic market positioning. Clients have reported tangible increase in market share through optimum price labelling and implementing the best practices of their competitors, using MedSKU.
What Our Clients Say
Insights to Uncover With SKU-Level Data
- Record monthly, quarterly and annual changes in ASP, units sold and revenue.
- Monitor shifts in market share on a monthly, quarterly and annual basis.
- Uncover how end-user pricing varies by distributor, facility size and region e.g. How much do Becton Dickinson, Cardinal Health, Medline, Owens Minor, etc. charge for Becton Dickinson’s Max Zero Needleless Connector SKU MZ10000-07? Do larger facilities pay less than smaller facilities? Do facilities in the South pay less than those in the Northeast?
- See which distributors sell the most of any given SKU e.g. Is Becton Dickinson’s Max Zero Needleless Connector SKU MZ10000-07 sold more by Cardinal Health or Medline?
- Track market share by region and facility size e.g. Is Baxter stronger in the South or Northeast? Does Baxter perform better in smaller or larger facilities?
How Our Clients Use MedSKU Consulting
- Identify high-performing product groups to aid in product development
- Employ MedSKU data in demand forecasting models for existing products and in inventory planning for products under development
- Create competitive analysis briefings for your sales team in preparation for upcoming product launches
- Generate monthly and quarterly reports to update your sales team on the shifting competitive landscape
- Implement monthly and quarterly reports to measure the success of marketing campaigns and recent product launches
- Use pricing data to negotiate more profitable distribution and licensing agreements