UK’s spirometry market. PESTLE and competitor analysis for Medikro Oy
Pruthi, Jora; Turpeinen, Roosa (2023)
Pruthi, Jora
Turpeinen, Roosa
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023052513988
https://urn.fi/URN:NBN:fi:amk-2023052513988
Tiivistelmä
This research was commissioned by the medical device manufacturing company Medikro Oy. The aim was to understand better the British medical device market as a potential new market for Medikro to enter in the spirometry field. The client company provided a list of topics to be researched and the authors added topics that would be helpful for the client to have prior knowledge of when entering a foreign market. The purpose was that Medikro would use this research to evaluate if the company could and should enter the British spirometry market. The research was conducted in a time span of 5 months in order to gather all the information needed to construct the study.
The study is divided into two parts. It starts with the introduction to the client company and the market research needed to evaluate the market. To analyze the external factors, PESTLE was used as a tool to explain how each factor - political, economic, social, technological, legal, and environmental - directly affects the entry. To better understand Medikro’s positioning compared to competitors, the strategic grouping tool was used to analyse the competitors based on pricing and adaptation to the British market. The report reviews results from the market research, the operation of the UK healthcare system compared to the Finnish healthcare system, fiscal support from the government and discussion about the Medical Device Regulations after Brexit. The report assesses the main competitor products and the competitors themselves and their positioning based on the strategic grouping.
Research was conducted mainly on secondary data because of the lack of availability of professionals to interview. The information was gathered through online sources and interview with a nurse specializing in spirometry. The two approaches of the research were desk research and limited qualitative research.
As a conclusion, mainly all the data requested by the company were found successfully, complemented by topics suggested by the authors. The company has all the knowledge needed before entering the British market.
The study is divided into two parts. It starts with the introduction to the client company and the market research needed to evaluate the market. To analyze the external factors, PESTLE was used as a tool to explain how each factor - political, economic, social, technological, legal, and environmental - directly affects the entry. To better understand Medikro’s positioning compared to competitors, the strategic grouping tool was used to analyse the competitors based on pricing and adaptation to the British market. The report reviews results from the market research, the operation of the UK healthcare system compared to the Finnish healthcare system, fiscal support from the government and discussion about the Medical Device Regulations after Brexit. The report assesses the main competitor products and the competitors themselves and their positioning based on the strategic grouping.
Research was conducted mainly on secondary data because of the lack of availability of professionals to interview. The information was gathered through online sources and interview with a nurse specializing in spirometry. The two approaches of the research were desk research and limited qualitative research.
As a conclusion, mainly all the data requested by the company were found successfully, complemented by topics suggested by the authors. The company has all the knowledge needed before entering the British market.