Top Medical Device Industry Trends in 2018
More shared and complex software
The insertion of software in medical devices development means medical devices are becoming more complex. However, the benefits of innovative technology to both providers and patients are exponential. Digital technology is becoming filled in nearly every sector of healthcare delivery.
Unusual medical devices technology
Establishments outside of the healthcare industry continue to channel their proficiency and expertise toward the development of products used in medical treatment. This trend will strengthen competition among all sectors on the medical devices playing field.
Emphasis on human factors engineering
The push toward plummeting or eradicating user errors includes guidelines contained which focuses on the safety aspects of usability engineering.
What Is “Market Potential Value”?
The market potential value is an estimation of the total amount of money that could potentially be spent by consumers in a particular market. Market potential value assesses the size of the overall market available to companies. An establishment can use this estimate to determine the overall market share and achieve certain revenues.
About Infiniti Research
Researchers at Infiniti Research have a wide-ranging experience in deep dive custom research and consulting for 100+ Fortune 500 companies and several small and medium-sized companies across various industry verticals. Infiniti Research is also a leading provider of actionable market intelligence and market potential index solutions that help global organizations in entering, competing, and capturing maximum market potential value.
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The client- is a global medical devices and pharmaceutical company with over 40 subsidiaries which run operations in over 45 countries.
The leading medical devices manufacturer conducted several research studies, mostly secondary research to make a launch plan for their new therapy. The therapy under study was a totally new therapy that sought to replace a well-entrenched procedure. As a result, the client wanted to define the target market.
With the Infiniti’s market potential index and market potential value engagement, the medical devices manufacturer devised a framework with:
- Capability to create customized market models tailored for a unique set of market definitions, objectives, and parameters
- Key ideas into their business planning initiatives including business case development, market entry strategy, market opportunity assessment, and financial analysis.