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    Innovation Roadmapping in the Medical Device Industry

    The Challenge

    A category leading medical device company had a goal to significantly grow in current and new markets over a 10-year planning horizon. Specifically, our client wanted to develop an Innovation Roadmap based on performance vectors and technology initiatives that would provide direction and milestones for investment to achieve their growth objectives.

    Physician Recruitment, competitive advantage, MedTech, stakeholders like physicians, nurses, payers, and patients, In-Depth Interviews (IDIs) , Quantitative Online Surveys, Survey design, Survey programming, Survey optimization, Survey recruiting, survey hosting, Survey launch, Survey data collection, survey analysis, actionable market and customer insights in healthcare. go-to market research partner, market research projects, TDI, IDI, Medical Device Approval, Clinical Trial Patient Research, Qualitative Research, Quantitative Research, Turnkey End-to-End Surveys, In Person Interviews, Phone Interviews, Focus Groups, From Concept to Launch

    The Approach

    Market Edge worked with the client to design an Innovation Roadmap that would

    • Align with target segments with unmet clinical and / or economic needs and ‘innovation headroom’ (device, procedure, instrumentation, business model, etc.)
    • Set priorities for investments in research, development, capabilities and clinical studies that would enable the development of the most impactful technologies and ‘vectors’

     

    Next, Market Edge worked with the client’s constituent Business Units to identify market needs, key trends and technology ‘vectors’ that would drive new sources of value creation.

    A series of cross-functional workshops then identified, assessed and proposed the ‘vectors’ to be developed and the appropriate sequence ensuring early returns on investment to the current product portfolio.

    The Outcome

    The final Innovation Roadmap enabled the client to

    1. Prioritize markets for development where they could differentiate the current product portfolio and develop new offers in adjacent space.
    2. Identify the top 5 performance vectors that are the core of a 10-year growth plan.
    3. Proactively invest in key areas (vectors) aligned with the business increasing both the effectiveness and efficiency (cost, speed) of their R&D pipeline.