product innovation blog

Product Development for Medical Device Companies

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Medical device product development is complex. Not only do you have to solve the customer’s problem and ensure that the market is big enough, you also have to follow stringent regulatory requirements. The bottom line is that you must have a product that a customer is willing to purchase, a market that is large enough, and evidence that your medical device is safe and efficacious for the intended use.

To add an additional layer of complexity, the medical device world is constantly changing. Several factors are driving those changes:

  • Increasing need to control healthcare costs, including pressure from payers who are not healthcare providers
  • Increasing demand by active seniors for better solutions
  • Transition from skilled providers to unskilled or family providers
  • Requirements for better transparency and tracking of medical devices
  • Delivery of solutions to countries with very limited infrastructure and/or healthcare resources

Complexity in the medical device industry is not going away anytime soon. To tackle complexity, Strategy 2 Market takes a systems perspective to product development. It starts with a robust strategy that links to your idea pipeline, process, and portfolio management system. We also have considerable experience in ensuring that you have an infrastructure that will support a repeatable product development system.

For more information please call Mary at 312-212-3144 or visit our Contact Us page.

Strategy 2 Market helps companies increase growth and decrease product development complexity. www.strategy2market.com

For more information or to speak with one of our consultants, please contact Mary Drotar at 312-212-3144 or [email protected]

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