Given Imaging’s Camera pill Case Study Solution
Given Imaging is medical device manufacturing company focusing on increasing viewership of gastrointestinal problems occurring in human body. It is a huge medical development which creates lot of marketable opportunity for the firm producing it.
Given Imaging’s greatest advantage can be the free advertisement of its product due to its nature. Medical advancement is always welcomed particularly the one pertaining to helping in diagnosing various diseases.
The financial statements of the company show a constant rise in all elements of the finances, including sales, profitability, expenses and investments. Given the nature of technology and the industry in which it operates there is lot of potential for the product in terms of usage. Concentrating on its safer use then traditional method of colonoscopy and endography, this element alone is likely to attract the attention of doctors and patients.
Given its initial acceptance and the fact that it attracted a large number of investors it is safe to assume that the company’s constantly rising profits and sales will attract even more investors and also have backing of medical authorities. The product had been Food and Drug Administration (FDA) approved and it is used for greater purpose is well met.
The point of concern for the company can be rise in competition, but given that there has been no effect in profits or the sales of Given imaging, it is safe to assume that due to the medical nature of the product the product there will be a less competition and high consumption.
Company (External- Porter Five Force Model) Analysis
Bargaining power of customers
The customers have low bargaining power given that the product is in developing phases. The consumers have now option of substitutes and low prices and will have to use the product at whatever level it is in.
Bargaining Power of suppliers
On the opposite side, the bargaining power of the suppliers is high as they can charge whatever price they want. The developing nature of the product also means that with passage of time and development of the product the suppliers can control the market quantity, quality and price.
GIVEN IMAGING’S CAMERA PILL Harvard Case Solution & Analysis
Threat of new Entrants
The other companies to challenge the monopolistic nature of the company are Chongqing Jinshan Science and Technology, Intro Medic and another almost century old company Fujifilm Holdings. All these companies are focusing on introducing a product having similar qualities to the existing Pill Cam. The competition is rising fast in the Pill Cam industry.
Threat of Substitutes
With fast rising competition from various companies the product will soon have substitutes available. This means that Given Imaging will have to focus on the element of product differentiation. This will enable the company to gain competitive advantage over its rival; the company needs to gain sufficient advantage over the rivals in fast rising threats of substitutes being launched by various rivals.
Rivalry
Fujifilm, Chongqing Jinshan Science and Technology and IntroMedic are fast developing their own products to challenge the supremacy of Given Imaging. The only competitive advantage that the company holds is that since it has developed the product and already launched it into the market, it can start working upon generating goodwill, and more ways to make the product more efficient quality wise. It can come with more cost effective methods and gain economies of scale in their production process.
Company (Internal) Analysis
Given Imaging is Israel based medical device company that formed in 1998 by several doctors and electro-optical engineer. Initially the individuals involved in the project were pursuing different interests but a chance meeting made them realizes that the work being done by them was complementary to each other. Therefore, these individuals joined their ideas together to form a capsule to visualize small intestine and various problems occurring there.
This technology was hugely expandable as the individuals involved were initially developing two different methods for viewing the small intestines. First part revolved around viewership depending upon charge-couple device (CCD) operating on batteries and sub-merging cameras into the body of a patient...................
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