The client requested Foley’s assistance in conducting focused market research on the medical device sector in Australia with the aim of finding new markets for its innovative diagnostic tool for orthopaedic and podiatry specialists.
In order to develop and implement a market entry strategy, the company needed advice on the viability of doing business in Australia, an understanding of the competition and clarity on their regulatory requirements.
Services and solutions
Foley’s expertise and established networks in the medical industry allowed us to quickly gather up-to-date and accurate intelligence, conduct primary and secondary market research and broker discussions with in-country experts.
We delivered a detailed report identifying regulations that would impact the client’s ability to serve the market and provided recommendations on regulatory consultant services to start the product registration process in Australia.
- The company established a presence in the Australian market as a direct result of our focused market research assistance
- The product was registered and approved for sale in Australia by the Australian Department of Health’s Therapeutic Goods Administration
- There was an immediate return on investment via an initial sale valued at (£114,926).
This product was introduced as a global product, in order to provide a revolutionary tool to enhance diagnosis and treatment worldwide. Crossing the equator for the first time to deploy a unit in Melbourne, Australia, firmly validates the above vision