Blog – Business Strategy
Business Strategy: This section of Blog articles includes business strategy for the commercialization of an emerging technology, how to secure funding for technology development, assessing the value of a technology, determining the current competitive landscape and other pertinent information. Click on each article to lead into the information, and then select Read More for each full article:
Navigating Preclinical Medical Device Valuation: The Role of a Medical Device Consulting Firm in Mitigating Investment Risks
Preclinical medical devices are those that have not yet been tested on humans and are still in the development phase. Investing in a preclinical device can create high-risk, however can also potentially deliver significant rewards. A valuation of the innovation prepared by an entity that is at an arm’s length from the development team […]
The Role of White Papers in Supporting Emerging Medical Devices
Successful commercialization of emerging medical devices are vital to the healthcare business, however bringing them to market can be difficult. The drafting of a white paper is a valuable element of a successful marketing plan and effective sales tool. In this article, we discuss the value of a white paper to support a new […]
Determining the Value of Your Novel Medical Device Technology
Valuing a startup medical device company can be a complex and difficult task. When determining the value of a startup business in the medical device industry, there are a number of factors to consider due to the industry’s distinct market dynamics and regulatory environment. There are typically three methods for determining the value of […]
The Journey to Commercializing a Medical Device: Key Milestones and Considerations
From conception to commercialization, the development of medical devices is a complex procedure involving a number of steps. In the United States, 75% of medical device startups fail, and 30-40% of investors lose their entire initial investment.
The cost of bringing your product to market will include obtaining regulatory clearance or approval. Medical device […]
Navigating the Landscape of Medical Device Investors: Key Considerations
Analysis of various factors is needed to identify the most suitable investors for your medical device innovation. You can identify investors who can provide valuable insights and support based on qualitative factors like experience, reputation, and value congruence. The ability of an investor to support your innovation can be objectively demonstrated by quantitative factors […]
Key Considerations for Ensuring Medical Device Adoption
The development of a medical device that will be sanctioned by both healthcare facilities and physicians is crucial for commercial success. The market for medical devices is anticipated to reach $595 B USD by 2024, driven by an aging population, a rise in the prevalence of chronic diseases, and technological advances. While there is […]
A Quicker Path to Hospital Adoption
Hospital purchasing has changed since the ObamaCare health reform in addition to current economic constraints due to the COVID-19 pandemic. An American Hospital Association report estimates the four-month impact on the US health system is a $202.6 billion loss, an average cost of $50.7 billion per month. Hospitals are charged to decrease […]
Eight Important Predictors of Clinical Adoption: How to Determine Clinician Willingness to Pay for Lifescience Innovation—Price Versus Features
What distinguishes between a technology physicians say they want and one they are willing to pay for? Furthermore, how do you determine those features that would be nice to have versus those that raise the value of your technology? Successful commercialization relies on the balance of a number of market factors and careful planning. When considering the strategic distribution of your R&D and marketing resources the voice of the customer is essential.
The Changing Role of KOLs for Life Science Innovation Development
Lifescience companies rely on selected Key Opinion Leaders (KOLs) to build advocacy for their technology, for clinical guidance on practice patterns, and for increased understanding of competitive technology usage and market trends. However, in the current era of comparative clinical effectiveness driving technology adoption, best practice roles for KOLS are expanding.
How to Determine Projected Adoption of Your Preclinical Life Science Technology that Changes the Standard of Care
Medical device executives desire to achieve successful commercialization, yielding a multimillion $/€/¥ exit while delivering clinical value to patients who benefit. To achieve these objectives, entrepreneurs have ever-changing hurdles to conquer. With so much at stake, how is it possible to identify the indication for use with the highest potential for successful commercialization, and to predict adoption early in the development process?