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Published online by Cambridge University Press: 03 November 2022
Conducting market research to find solutions, identifying opportunities and defining the value of new inventions are some of the key points covered in this chapter. A carefully defined indication can make the difference between success and failure in medical product development and this chapter explains how to get better at nailing the exact problem to be solved. Market segmentation examples and cases show how to prevent being misled on market size and market projections. A referral chain tool is presented for closely analyzing market positioning and value proposition of the new technology or product. Key market drivers and hurdles used to dynamically determine market size, adoption rates, and strategize on product development cycles are discussed and presented in this chapter.
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