Dominic & Irvine Completes Research on Wound Care Products
Dominic & Irvine Research announced the completion of a two month research project focusing on the current and future market of wound care products including elastic nettings, hydrogels, cleansers and dressings.
(PRWEB) August 30, 2004
The objectives of the research included: calculating the market potential for elastic netting, hydrogels, cleansers and dressings, prioritizing the methods of increasing market share, identifying buying motivations for hospitals, and determining the market share geographically by individual manufacturers. The study was conducted in U. S. hospitals. D&I Research exceeded its goal with an 89% completion rate of the targeted universe of hospitals.
“D&I Research is extremely proud of the results from this study,” said Michael S. Murphy, president of Dominic & Irvine Research. “Not only did we exceed our standard goal of an 80% completion ratio, but we enhanced our processes of ‘voice of customer’ research. To assure research effectiveness our technologists went through extensive training to familiarize themselves with materials management and burn units and to expand their knowledge of emergency and surgical medicine to include wound care.”
In order to achieve the most accurate information, D&I research used a traditional top-down approach communicating first with the hospital materials manager to identify the types, quantities and volumes of use. The research team then identified the high volume departments, and interviewed the directors of those departments to determine satisfaction and desired improvements for the products.
Barbara Liner, Research Technology Manager and lead technician for this wound care study, said, “The greatest challenge we encountered on this product was identifying the most accurate contact to give us the objective information regarding motivations for use and purchase criteria. The materials managers were a wealth of information in terms of what was being used for wound care. However, identifying the reasons for why those products were being used related to product features and distributors proved to be most critical.”
In studying the market share, D&I Research was able to successfully identify the share of the elastic netting, hydrogel and cleanser/dressings shares for all competitors, the volume of use per size, and the comparative quality ratings for individual manufacturers.
Additionally, D&I Research identified and prioritized the buying motivations and desired improvements by using its unique “voice of the customer” research allowing for open ended input directly from the end users.
Murphy said, “We were able to conduct an in depth SWOT analysis for this manufacturer. In the end, we identified manufacturer/product strengths including quality ratings and product variety that exceeded all competitors. We identified a tremendous opportunity for growth based on the clinical needs and desires of end users. After analyzing all of these areas, D&I Research was able to create a clear and informed strategic plan for improved market share and clinical advancements needed in the wound care market both now and in the future.”
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Based in Franklin, TN, D&I conducts independent market research studies and studies for medical suppliers, purchasing organizations, equipment manufacturers. Studies are completed through interactive guided phone interviews with highly trained research professionals. The interview format allows for the most accurate data with the highest level of integrity. D&I ensures accuracy by setting the new standard of an 80% completion rate of all applicable facilities.
Since its inception, D&I has completed more than 45 national studies in various areas of the healthcare industry and presented its findings at both national and international conventions and trade shows as well as sharing results with interview participants.
