Competition-driven innovation and medical device consulting services firms assist medical device companies to develop technical products at reduced costs. Medical device consulting firms conduct rigorous market research to support development and marketing efforts, reduce risk and cost and ensure that the device successfully enters the target markets. Medical device market research and analysis is a rigorous process in which consultants identify and interview key opinion leaders with aligned expertise and relevant experience in healthcare settings. Consultants have criteria to identify leaders who can provide valuable insight into current and future target market expectations, competition level, possible roadblocks to development and adoption and early adopters training. Key opinion leaders are highly respected and influential figure and their opinion about the device under consideration for development can help in attracting investment.
It is critical to understand how each clinician uses the medical device. Typically, physicians or nurses use medical devices in healthcare settings. However, they are not the only medical device users. Inventory or storage managers, maintenance technicians and even patients can be medical device users. A medical device succeeds in the current and future target markets when it meets and exceeds the expectations of each user. For this reason, the medical device market research should include a full range of users.
There are other key voices with unique needs. These users can provide insight that can help in identifying the limitations of existing and competing technologies. Addressing these limitations helps in securing accelerated adoption. Medical consulting firms work with high-quality research panels with aligned experience and specialities.
Research questions are required to be specific according to the audience. For example, when it comes to pricing the technology, physicians or nurses may not be able to provide valuable insights. It is critical to speak to those who are involved in medical device purchase decision making. Administrators, supply chain managers and purchasing leaders provide pricing feedback. For this reason, medical device consulting services providers set specific questions for a specific audience to initiate insightful conversations and gather valuable data.
The medical device developer cannot assume that a selected number of users know everything about the brand or product. They might remember the brand but not the model. Sometimes, users identify a medical device with its appearance. Medical device consulting services firms eliminate guesswork by using images and/or videos of the medical device and its competitors. This ensures that the consultants secure feedback on the same device.
Medical device developers typically interview physicians or nurses who use the device. However, every new medical innovation is developed to improve patient outcomes. Patients also have unique needs that are critical to identify and meet. To improve product design and patient experience, medical device consulting firms also capture the patient’s care pathway. This pathway provides insights into different stages of care from symptoms to complete recovery or life adjustments post treatment. The journey allows capturing both the clinical and personal needs of the patient during the treatment.