Medtech
Junction

MEDTECH
JUNCTION

Market
Research
A concept is commercially valuable only if it addresses a problem in a way that is superior to alternatives and satisfies multiple stakeholders involved in its purchase and use. A value proposition needs early validation as it is critical to attract funding and focusing development activities.
Why?
What?
Market assessment
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Determining and validating the value proposition.
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Analysis of competitive offerings.
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Quantification of amenable market.
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Development of revenue forecasts.
How?
To develop a market assessment we generally take the following steps:
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We engage with key stake holders such as physicians, nurses, Value Analysis Committees (VACs), dentists etc. and develop insight into their unmet needs, decision making, and available alternatives.
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We couple this insight with Intellectual property assessment, analysis of product use economics and determine if the concept offers value.
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Once the value proposition had been determined we use the insights developed and secondary research to develop a quantified estimate of the amenable market generally from the “ground up”.
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If the original value proposition is not validated we are often able to identify an alternative proposition which can be pivoted to.