Why market research is the MedTech multivitamin
Vital for manufacturers, investors, and everyone in between
Kristy Beede, Director
In the fast-evolving world of medical technology, innovation alone isn’t enough. A brilliant device or digital therapeutic can fail if it doesn’t align with the needs of end users, clinical workflows, or regulatory pathways. That’s where market research steps in, not as a luxury, but as a strategic necessity.
For manufacturers: Building what the market actually needs
MedTech manufacturers often operate at the cutting edge of science and engineering. But even the most advanced technologies can stumble if they’re built in a vacuum. For example, market research helps manufacturers:
Identify unmet needs by surveying clinicians, technicians, and caregivers
Test product concepts early, gathering feedback on usability, safety, and perceived value before investing in full scale development
Validate regulatory and workflow fit, to ensure new products integrate smoothly into existing clinical protocols and reimbursement systems
Optimize user experience, especially for software-based tools and devices that require intuitive interfaces and minimal training
Skipping these steps can be costly. MedTech companies can face challenges, not from poor technology, but due to insufficient planning for market access or user adoption.
For investment firms: De-risking and unlocking value
In a competitive and increasingly value driven healthcare landscape, investors are looking beyond novelty, and seek evidence of traction, scalability, and strategic fit. Investors are increasingly scrutinizing MedTech ventures not just for their innovation, but for their market readiness. Market research provides critical signals that help firms:
Assess product-market fit and validate demand before committing capital
Sharpen value propositions, ensuring that technologies resonate with both clinical and commercial stakeholders
Reduce risk by identifying potential adoption barriers, competitive gaps, and regulatory hurdles early on
Drive faster adoption, which translates into quicker returns and stronger total shareholder value
Top performing MedTech companies consistently invest in market research as part of their R&D strategy, using it to guide acquisitions, shape portfolios, and optimize go-to-market plans.
We recently worked on an interesting project with a MedTech investment firm to identify the personas of current and potential future customers of longevity clinics to feed into their wider investment strategy. Post report delivery they commented; “Thanks again for this report, it is incredible, and I think will be very helpful for the team!” VP of Research, Investment Firm. This serves as a good reminder that different buyers require market research across the entire MedTech lifecycle.
For other stakeholders: Aligning across the ecosystem
Market research also plays a pivotal role in aligning diverse stakeholder priorities, such as:
Patients who tend to value ease of use, accessibility, and trust
Clinicians who often want tools that improve outcomes without disrupting workflows
Administrators who look for cost-effectiveness and operational efficiency
Procurement teams who require clear ROI and regulatory clarity
By understanding these varied perspectives, MedTech companies can tailor messaging, design, and delivery strategies that resonate across the board.
Whether you're designing the next breakthrough device or evaluating a portfolio of emerging technologies, market research is the MedTech multivitamin, essential for keeping innovation healthy, balanced and on course.
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Whether you're designing the next breakthrough device or evaluating a portfolio of emerging technologies, market research is the MedTech multivitamin, essential for keeping innovation healthy, balanced and on course.