Medical device consulting professionals use the medical device product positioning analysis to determine the market space where a device or technology will be used and compared to alternate clinical solutions available. A positioning analysis, allows professionals to identify specific advantages that separate an innovation from its market competitors such that desired features and benefits can be highlighted to ensure that potential users comprehend the new device benefits.
What is a Positioning Analysis
To successfully position a new technology in the market device manufacturers must analyze and understand the market space where an innovation competes with existing technologies. They can use data collected during a positioning analysis to identify the features and benefits that are desired by end users.
A medical device product positioning analysis includes a review of the features of both direct and indirect competitors to ensure the technology will be acceptable by both current and future users.
Benefits of Positioning Analysis
To obtain the highest value from a positioning analysis, it is performed early in the development process, to determine if and where there is space for a new technology. The analysis determines what market needs are not being satisfactorily addressed by current technology, and what features must be included in new innovation to meet clinical objectives. When performed later in the developmental process, the positioning analysis highlights where competitors are positioning their technology within the current landscape.
What features are the most important to users? Product size, ease of use by expanding clinicians, ability to deliver improved results, flexibility for use in diverse procedures, storage requirements, ability to be used with adjunctive technologies or to supplant alternative technologies, sterilization requirements and more. Medical device professionals use the collected information to understand competitive technologies in expanded clarity to be able so successfully position their technology.
Information on Competitive Market Space
A positioning analysis allows device manufacturers to understand the market space before they develop the technology, or before they position the technology for release in the market, if they are performing it later in the developmental process. In addition, the market is a changing landscape, and features that were important in the early developmental stage may have changed as the technology advances, new materials may have emerged, changing economic landscape, or other material differences.
The analysis assists device makers in identifying benefits that separate the innovation from existing or emerging technologies in the competitive market.
Review of Competitors
A compelling medical device strategic positioning analysis involves a review of direct and indirect competitors. For the successful positioning of a device, a manufacturer needs to understand the unique features that fulfill clinical need.
Manufacturers can use the result of positioning analysis to recognize factors that may help drive accelerated adoption of the innovation.
A positioning analysis can also be used to analyze specific features that are currently absent from existing technology, to allow a developer to include those features in the technology under development.
A careful review can help ensure the position will be valued.
Consultant for Medical Device Product Positioning Analysis
A strategic medical device consulting company has experienced professionals able to accurately and concisely analyze the market space to allow the company to properly position an innovation. They use a System Positioning Analysis to review direct and indirect competitors to identify unique features to enjoy specialty positioning.
Through a medical device product positioning analysis, a strategic medical device consulting company ensures that a device manufacturer effectively positions an innovation in a market that drives profitability.