MARKETS AND MARKETS RFID/RTLS GLOBAL ASSESSMENT
After receiving an executive summary Healthcare/Pharmaceuticals Asset Management Market, Global Forecast 2017, I went back to review the company that published this research, Markets and Markets. I wanted to get a better understanding of how the company’s interview of me (April 2013) fit into their approach to market segmentation.
Markets and Markets provides research for the following segments:
-Energy and Power
-Food and Beverage
-Semiconductor and Electronics
-Automation and Process Control
-Telecom and IT
-Automotive and Transportation
-Banking & Financial Services
-Aerospace & Defense
-Engineering Equipment Devices
They provide information to clients through reports and subscriptions. They provide services through consultants.
Kaushik Kochhar, Madhusudhan(Madhu)Pendyala, and Harinder Mehta, spoke with me about Healthcare/Pharmaceuticals Asset Management Market, Global Forecast 2017. Kaushik is the Manager for Strategic Growth and Business Development (Healthcare IT). Madhu was the research associate on this report as well as others such as: North American Nuclear Medicine/Radiopharmaceuticals & Stable Isotopes Market, Global Additive Manufacturing Market, and Global Healthcare/Pharmaceuticals Asset Management Market and Global Nerve Repair & Regeneration Market. Harinder manages business development for the sub-domains of Medical Devices, Bio-Technology, Pharmaceuticals, and Healthcare.
“Across the life-cycle of a brand” is a phrase on the Markets and Markets website that caught my attention. Asset Management for plant systems and equipment is all about well-managed phases of each life-cycle. A brand shares similar characteristics. A brand can be purchased. A brand has to be maintained. A brand is utilized. A brand can be retired. A brand can be resold once the owner no longer wants it. There are similar life-cycle risks associated with something as massive as a skyscraper just as there is with something that has no physical mass, like a brand. So, how does market segment approach in the report help companies manage the life-cycle of their brands?
Kaushik, Madhu, and Harinder walked me through Markets and Markets approach. This market research is a global assessment of the RFID and RTLS markets. They cover the operational application, hardware, and software for passive and active technologies. The strong impact of this technology on cost saving in hospitals and pharmaceutical industry, enhanced work flow management, patient & staff safety, is assumed to be the major drivers of this market. Markets and Markets affirms that this research is conceptualized and
implemented to help their clients:
1. Understand how to leverage existing markets
2. Find new markets
3. Find channel partners.
The report is one way Markets and Markets communicates the results of that process.
I read through the executive summary of Hospital Pharmaceutical/Asset Management Market. First, the executive summary suggests how you should look at the report in the Key Takeaways section. Next, it takes the reader through a description of the report.
The Report Description helps the reader to see how the research approach was conceptualized, planned, and implemented. The Healthcare Asset Management Market is segmented by:
- Application: The purpose of the sold system (Example: Patient Management)
- Product: The positioning hardware and software (RFID/RTLS)
- Geography: North America, Europe, Asia, and Rest of the World (RoW). RoW is Africa, Pacific Countries, Middle-East, and Latin America (LATAM).
The Pharmaceutical Market is broken down similarly.
The document’s Methodology summarizes Markets and Markets’ approaches to determining market share, market size, and key data points. As part of the process, they used both top down and bottom up approaches to “calculate global market size”. For growth estimates, they used company financial reports, order information, paid databases, company websites, interviews, and press releases to collect data for analysis and display in the 130 or so tables displayed in the document.
Reading farther into the document, Markets and Markets’ reports on regulations and burning issues for key segments. These can help drive the market to grapple with the issues and look for solutions in regards to compliance, risk mitigation, and protecting financial projections. Customers will look for brands solutions.
Chapter 7 discusses the competitive landscape with the list of companies that are engaged in acquisitions, mergers, and collaborations. How is brand image maintained in stiff competition without understanding how the game is being played?
Chapter 8 contains company profiles of 15 companies involved in RFID and RTLS.
Though there are similarities between the life-cycle of physical assets and brands, there are significant differences as well. One major difference is the information required to increase ones’ chances of a good outcome. This is especially so in terms of growth. Successfully expanding a facility to increase customer capacity by 500 per day is much simpler than increasing your brand image to draw those extra 500 customers per day. The team I spoke with from Markets and Markets confidently emphasized the stated company goal in this regard, “We aspire to assist our clients in achieving sustainable growth by providing incisive business insights into their respective markets.”
To find out more about the report, click here http://www.marketsandmarkets.com/Market-Reports/healthcare-and-pharmaceuticals-asset-management-market-1195.html. Add hardyamc “to specific field of interest” to get a 5% discount.