A Strategy Inc. Market Analysis defines a medical technology’s potential for commercial success for each of its identified target markets, driving the development of a portfolio to comprehensively address current and emerging market needs. With effective market analysis diligence, a specific portfolio of products can be strategically initiated with a single product entry.
The Market Analysis is designed to fully define the market and opportunity through:
- Identification of the scope, market drivers, and key market trends driving revenues
- Determination of the customer profile for target clinical areas and review of customer segments and historic and projected purchasing patterns
- Delineation of current and emerging treatment modalities including advantages and limitations of competitive technologies
- Explanation of anticipated barriers to entry and threats to market adoption
- Insight of facility requirements and purchasing processes changes
The medical device market research can include market size definition in terms of volume and value with a look at disease incidence, prevalence, procedure volumes, market revenues and a comprehensive evaluation of the target market for your medical technology. Analysis of the target US and global lifescience markets is supported with thorough research and qualitative and quantitative analysis from primary sources, in addition to review of published literature, market share reports, statistics and other secondary sources. In addition to intelligence on current market trends, medtech market research will also consider future markets, identifying potential adopters and projecting future landscape.
Deliverable elements can include identification of current and emerging treatment modalities, addressable target markets and a comprehensive evaluation of a range of proven market drivers. A Strategy Inc. Market Analysis includes a full assessment of projected barriers to market adoption, target customer profile and market penetration. This activity delivers an in-depth understanding of the pricing and reimbursement landscape.
The captured Market Analysis diligence can be used to support a medical device Market Plan, Go-to-Market Strategy, Investor Due Diligence and Portfolio Analysis.