Case Example

Market Assessment for Solid Surface Material Player – Healthcare Delivery Segment in India

Client Challenge

The client, a pioneer in Solid Surface Materials (SSM), wanted to diversify its SSM offerings to tap the healthcare delivery segment. The client’s management had a hypothesis that due to Covid-19, there will be increased focus on hygiene & sanitation (especially in healthcare segment) and hence there is an opportunity for SSM to be positioned as hygienic surface material due to its attributes such as homogeneity, non-porous, durability etc. Client approached UC to assess the market potential, key market trends, growth drivers, surface material preferences & customer buying behavior for SSM in hospitals (>100 beds) & diagnostic labs.

Our Approach

UC adopted the following approach to conduct market assessment for SSM:
● Assessed healthcare landscape in comprising information & insights on India’s healthcare expenditure (as % of GDP & per capita), hospital bed availability, key challenges in healthcare infrastructure, reasons for nosocomial infections etc.
● Conducted as detailed segmentation of hospitals & diagnostic labs across various pivots and assessed capacity addition over next 5 years along with key trends
● Developed a 4-step detailed market sizing framework to arrive at universe of surface material market size, latent potential for SSM & actual/expected market size
● Obtained market size splits across multiple pivots such as customer type, geography, new demand v/s replacement demand, application areas & applications etc.
● Conducted comprehensive profiling of customer segments to understand their typical spends on surface materials, refurbishment cycles, expenditure budgets etc.
● Mapped entire customer journey value chain for selection of surface materials, identified key influencers, decision makers etc.
● Assessed key selection criteria/ switching criteria across customer segments in hospitals/diagnostic labs w.r.t selection of surface materials for various applications & application areas, prioritization levers in case of budgetary constraints & current levels of awareness regarding SSM
● Prepared a detailed segmentation & profiling of various types of surface materials used, their characteristics, advantages, limitations, price points etc.
● Across various applications areas & applications (e.g. Operation Theatre, consulting room, nursing stations etc.), conducted detailed assessment to understand predominant surface material used, price-value equivalence of existing surface materials & SSM, potential for SSM adoption & key drivers

Our Impact

The client received detailed insights on existing & expected healthcare infrastructure landscape in India, market potential (latent & expected) for SSM, customer profiling, key material selection criteria, buying behavior, surface material preferences in hospitals & diagnostic labs across various application & application areas, potential for SSM adoption, drivers for adoption & key challenges for adoption.
Client also received directional high-level recommendations on target applications & application areas, focus customer segments, focus geography, and key success factors