Competitor Analysis for Healthcare Online Platform

  • healthcare competitor analysis

Competitor Analysis for Healthcare Online Platform

PatentPremier, an online platform that enables comparison of healthcare providers in the USA. They needed a Market Research and competitor analysis for their healthcare online platform in order to see their competition and identify its USP.

First phase

We divided the competition into direct and indirect competitors. Direct competitors as companies who offer the same service and target the same market. Indirect competitors as companies that provide a similar service but differentiated by some key distinctive feature, or a different target audience. We identified several direct as well as indirect competitors and analyzed their services, pricing, market coverage, financials, advantages as well as disadvantages. Based on the analysis, we derived several conclusions about the market.

Second phase

The client also developed a dynamic survey platform which will be initially focused on Pain Management. It will enable the patients to select medicines from a searchable list and keep a diary of their pain entries. Logging in information frequently will also assist the professionals in keeping track of the prescribed opioids, prior history, current prescription habits etc. and see if the medication is helping or not if the symptoms are side effects or problems with the medication. Market research was required to see the current situation on the market.

In the research, we covered the following subjects:

  • Market size, current trends, upcoming pain medication trends
  • Competition (other platforms/applications offering similar services)
  • Potential customers
  • Anesthesiologists – practising pain medicine.
  • Physical medicine and rehabilitation (pm&r) physicians
  • Others – people who practice pain medicine within any background such as psychiatrists, neurologists etc.
  • Pharmaceuticals (track symptoms and side effects of new coming medications)
  • New pain management medications that are coming out in the next few years
  • An idea of the potential new marketing for pain medications

All in all, our bees for the client’ built a competitor analysis for their healthcare platform and a Market research report.

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Client name

Patent Premier

Location

USA

Year

2017