Medical Device Market Research

Medtech is a broad term used to cover the medical device and diagnostics industry, which can be categorized in dozens of ways and divided into hundreds of distinct fields, from commodity products such as gowns and drapes to cutting edge robotic systems. 

Most of the medical device market research that we conduct is focused on higher end products in dynamic categories. 

Medical device market research process

  • Identification: what improvements do physicians (or other key stakeholders) want? Which are most important? Which can our clients address?

  • Concept testing: this ranges from broad evaluation of high-level product concepts through to detailed feedback on prototype devices 

  • Message testing: helping clients understand which features / benefits are most impactful to their customers, and how best to convey their key sales messages

  • Post-launch research: measuring awareness, usage and perception of our clients’ products and their competitors, identifying adoption barriers and growth drivers

Why are we different?

While we have built up substantial experience in a wide range of device and diagnostics fields, we cannot claim expertise in every niche – indeed one of the aspects we love about medical device market research is the huge range and variety of products and services, and the opportunity to learn about new areas on a regular basis. 

More often than not, the specific scenarios we encounter in new product categories are familiar from research we have done in other fields, giving us a head start when it comes to project design. See our approach to project design.

With our extensive experience of the medical device market research industry, we have been able to observe a number of healthcare market research and medical device market research trends.

Healthcare market research industry trends

  • Increasing focus on tailored medicine, both in terms of diagnostic and therapeutic development

  • Growing emphasis on market access, in the context of ever-greater pressure on healthcare spending

  • Close interest in the ways that big data and AI (artificial intelligence) are already changing data gathering and interpretation, both in the context of guiding healthcare product development and also in the context of medical market research

Medical device market research trends

  • More focus on the trade-off between higher upfront costs for e.g. a less invasive new implant or interventional tool and longer-term outcomes such as a reduction in side effects and recurrence rates (and associated costs)

  • Movement towards devices that offer an alternative to drug therapies, that can be expensive, dangerous and addictive, for example implantable pain devices that can replace or reduce opioid usage

  • Increasing interest in diagnostic and prophylactic products, especially driven by the rapid growth of digital technology within healthcare, perhaps most evident in the plethora of wearable devices and the wealth of useful data they can provide

  • The subtle but perceptible way that the top tier of medical device and diagnostics players, besides growing revenue and shrinking in number as they merge, are repositioning themselves as ‘healthcare companies’ rather than just device manufacturers.

  • Increasingly offering not just products but also services, presenting themselves to their customers as partners not just suppliers, and takin an ever more holistic view of their environments and they way they are perceived by the wider world

These trends and many more make the medical device market research industry a fascinating and rewarding field, and one about which all of us at Purdie Pascoe are passionate.

The product and therapy areas we regularly work in

Purdie Pascoe offer medical device market research across most medtech product and therapy areas. Our particular areas of market research expertise are diagnostics, implantable devices, surgical equipment, interventional procedures, drug delivery and procurement.

Please contact us if you would like to discuss a medtech market research project with us.

Contact us to discuss your medical device market research needs

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