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Medical Device and IVD Market Research

We Provide the Insights That Drive Important Strategic Decisions

Great products don’t happen by accident and they certainly don’t sell themselves. Savvy medical device and IVD manufacturers know that investing money to understand market and customer dynamics is every bit as important as making sure their device is safe and effective. We help companies with a wide variety of research projects that help them successfully launch or reposition their products in a specific geographic market. Our services include everything from go-to-market planning and strategy to patient journey research. Using our vast database of contacts and in-house intellectual property, we formulate clear recommendations based on the data collected and experience gained from executing more than 1500 projects for medical device and IVD manufacturers.

Medical Device Market Research Ô°ÇøÒùÂÒ

Clients come to us because we provide product-specific insights they cannot get from standard market research reports or their own sales teams. The variety of services we offer can be seen to the left. Recent projects we have completed for clients include:

  • Creating a pricing strategy for a product upgrade of an ICD platform
  • Understanding the value drivers for microwave ablation procedures
  • Measuring awareness and usage of invisible teeth straightening procedures
  • Evaluating the current standard of care for breast cancer patients
  • Understanding what is expected of the next generation of PET scan systems
  • Defining the best business model for a new anesthesia technology dashboard
  • Evaluating optimal messaging of a new pacemaker communication campaign
  • Comparing two mobile applications that are used to help insomnia patients
  • Building personas in order to create a sustainable connection with oncologists
  • Investigating the potential value of a new device for measuring kidney function
  • Creating and validating a model online survey for rare disease patients
  • Developing a new method to diagnose Alzheimer’s disease

Go-To-Market Planning and Strategy

Go-to-market (GTM) Planning and Strategy consultancy services help businesses successfully launch products or services. These services encompass:

  • Market research to understand customer needs
  • Competitive dynamics
  • Segmentation to identify target audiences
  • Value proposition development to craft compelling messages
  • Pricing strategy is crucial to set optimal price points
  • Channel strategy to determine effective promotional tactics

We tailor these strategies to specific business needs, leveraging the expertise to drive growth and competitive advantage. This structured approach helps in mitigating risks, maximizing market acceptance, and achieving sustained growth.

Commercial Opportunity Research

Commercial opportunity research helps businesses identify and evaluate potential market opportunities. These services include comprehensive market analysis to understand:

  • Industry trends
  • Market size and growth
  • Competitive landscapes
  • Assessing unmet medical needs
  • Evaluating the competitive positioning and pricing
  • New product adoption and value proposition

We provide insights into emerging markets, potential growth areas, and strategic opportunities. We also conduct due diligence on potential partners, investments, and acquisitions to mitigate risks. By leveraging data and market intelligence, we help businesses make informed decisions, optimize their market entry strategy, and develop competitive advantages.

Pricing Research and Strategy

Pricing research in medical devices involves analyzing various factors to determine the optimal price for a product. This process includes understanding the value drivers of the device, assessing its value against competitors, and evaluating market demand and price sensitivity.
Key methodologies used in pricing research include:

  • Gabor Granger method, which measures willingness to pay at different price points
  • Van Westendorp Price Sensitivity Meter, which identifies acceptable price ranges
  • Conjoint analysis helps in understanding how different product attributes influence pricing decision

The goal is to balance profitability with market penetration by setting a price that reflects the device’s value while being competitive and accessible to target customers. This research is crucial for ensuring that the pricing strategy aligns with market expectations and maximizes revenue potential.

Brand and Competitor Research

Brand and competitor research in the medical devices sector involves a detailed analysis of market dynamics, competitor strategies, and brand positioning. This research helps medical device companies understand their competitive landscape, identify market opportunities, and develop strategies to enhance their market presence.

Key components include evaluating competitors’ product portfolios and customer satisfaction levels. By understanding competitors’ strengths and weaknesses, companies can identify areas for differentiation and innovation.

Additionally, brand research focuses on customer perceptions, brand equity, and loyalty. This helps companies refine their brand messaging and improve customer engagement. Ultimately, these insights enable medical device companies to make informed strategic decisions, enhance their competitive edge, and drive business growth.

Patient Journey Research

The approach of personalized medicine or treatment plans is an increasingly adopted approach amongst healthcare providers. Along with it comes a greater focus on the experiences of the patient, understanding the patient’s research journey and always keeping in mind that they are the end user.

All patients are different, completely unique and tell individual stories. Knowing this, it shouldn’t come as a surprise that every patient is looking for different information and support at different points in their patient journey – which translates in a need for different communication.

During our research, we try to gain patient-insights, such as:

  • The patient pathway
  • Decision points
  • Awareness levels of treatments
  • Key challenges
  • Key goals
  • Unmet needs

Usability Testing and Observational Research

Usability testing and observational research allows for in-depth, context-rich data collection that can reveal hidden challenges and unanticipated consequences of device use.

The goal of this research is to assess the usability of medical devices, identify any issues or errors that may arise during their usage, understand workflow implications, and evaluate their impact on patient outcomes. By closely examining how medical devices are integrated into clinical workflows and how healthcare providers and patients adapt to them, researchers can gain insights into the practical, real-world utility of these devices.

The findings from this research can have significant implications for device design, user training, and clinical protocols. It can help manufacturers improve the user-friendliness of their devices, inform regulatory decisions, and guide healthcare professionals in optimizing device use to enhance patient care.

By focusing on the human and environmental factors that influence device performance and patient outcomes, this research contributes to the ongoing improvement of medical devices and the quality of healthcare delivery.

Economic Stakeholder Research

Hospital economic stakeholder research for medical devices focuses on understanding the priorities and decision-making processes of key economic stakeholders within hospitals, such as C-level administrators, service line managers, and administrative physicians. This research aims to identify the main value drivers for these stakeholders, which typically include cost containment, productivity improvement, and patient satisfaction.

By analyzing these factors, medical device manufacturers can better align their products and services with the needs of hospitals, facilitating successful product launches and sustained profitability.

Additionally, the research explores potential partnerships and payment modalities, such as risk-sharing agreements and fixed-price contracts, that can help hospitals achieve their economic goals. The ultimate objective is to foster collaboration between hospitals and medical device manufacturers, ensuring that new medical devices meet the economic and clinical needs of healthcare providers.

Ô°ÇøÒùÂÒunderstands government and private payer coverage and payment policies under the current global health economics environment. As such, our team designs strategies surrounding specific objectives which are targeted toward reimbursement barriers that would otherwise limit broad market adoption of emerging medical technology, including use of clinical and health economics evidence to secure coverage. Ô°ÇøÒùÂÒassists medtech sponsors with a global reimbursement strategy and services including:

  • Coding analysis – Maximizing the chances of accurate and timely reimbursement.
  • Reimbursement Landscape Assessment – A research-based report that identifies possible barriers to appropriate coding, coverage and payment for a specific medical technology.
  • Medical Director Interviews and Physician Advisory Boards – We conduct primary research with existing health plan Medical Directors to evaluate payer reaction to new technologies, either pre-release or prior to final design.
  • Reimbursement Due Diligence for Investors – Venture capital companies and other investors requiring a market risk assessment for reimbursement prior to investment.
  • Assess Adoption – This assists hospitals in determining  projected margins from Medicare and private payers prior to investing in new medical technologies.

100% Focused on Medical Devices and IVDs

1,700+

Medical Device Market Research Projects Completed

100K+

Panel of HCP and Administrator Participants in Our Global Database

35+

Native Language In-House Researchers to Conduct In-Depth Interviews

23+

Years Conducting Market Research in Medical Devices and IVDs

Meet NAMSA’s Market Research Experts

Meet the people who turn data into actionable insights.

Meet All Our Experts
  • Christophe Van der Linden

    Executive Director Marketing Insights & Consulting
    View Bio
  • Jasper Van de Sande

    Senior Business Consultant
    View Bio

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