Essentials of Research Revealed for Successful Product Development

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 30, 2007 --

Product development in the medical device industry is complicated - there's government regulations, as well as a complicated matrix of providers and end-users - patients, physicians, providers and payers. Up front there's need for developing reimbursement strategies, pricing and maintaining quality control systems. Multiple modes of research can help eliminate uncertainties and risks moving from concept through commercialization, to launch and acceptance into the marketplace. Research potential, development of clinical, regulatory, reimbursement and competitive knowledge is critical, along with patient research. Secondary (published) research is often used to help determine market sizing, segmentation, dynamics, forces, and distribution strategies, but is not always easy to come by. Market assessment, user needs and wants, concept testing and feedback is used throughout the process, leading to a "go to market" launch plan. This subject and many other parts of the process are covered in an article (with the same title: The Essentials of Research in Successful Product Development) in the August issue of MD&DI, a Canon Communications publication by the author (Richard Halpern, Halpern Info Services).

Fee-based and free sources are discussed - including commercial grade databases like Dialog, Factiva and LexisNexis, along with sources like Espicom and Medistat - World Medical Markets Analysis. Patent research too can also help companies understand what new products their competitors are planning to introduce - and where. Dialog SourceOne, Derwent, CLAIMS/US Patents are others used judiciously by trained professional researchers. Armed with authoritative and reliable information sourced quickly and reported with analysis leads to an understanding which management can use to make sound business decisions.

Business success is a function of the management of technology, personnel, and information resources as well as design procedures. The best information is sourced systematically by professional researchers who know how to search and not just where to search. Well-sourced information can make a substantial difference in the success or failure of any new medical device product innovation.

medical devices     new product development