Commercializing Your Device Ideas

One of the most overlooked components in medical device development, is the proper considerations surrounding being able to successfully commercialize it to market. Medical device development has always been about assisting physicians and clinicians in their work to improve patient outcomes, while helping better contain rising healthcare costs which is more important today as ever. Our discussion brings to light early consideration of what is needed to properly investigate and plan for executing a commercialization strategy throughout the entire device development before attempting to go to market. We will consider the different ways of validating a new concept’s ultimate value in healthcare. It is important to make critical decisions on the “if and how’s” in making a new device concept successful in the market. We will consider things like pre-concept investigating, prototype analysis and go to market due diligence which fully evaluates patient improvement considerations and end-user features and benefits considerations, plus supply chain processes and purchasing system accessibility. You want to ensure that your newly vetted and approved solution can potentially get the best chance for exposure and acceptability in the right departments and hands of clinicians. Understanding the implications involved with which markets, regions, and countries to launch to first and how in-depth your sales and marketing efforts might need to be to penetrate where you launch to.