Medical Device Commercial Opportunity Market Research

Uncovering Potential Market Opportunities

Commercial opportunity research helps businesses identify and evaluate potential market opportunities. These services include comprehensive market analysis to understand:

• Industry trends
• Market size and growth
• Competitive landscapes
• Unmet medical needs
• Competitive positioning and pricing
• New product adoption and value proposition

We provide insights into emerging markets, potential growth areas, and strategic opportunities. We also conduct due diligence on potential partners, investments, and acquisitions to mitigate risks. By leveraging data and market intelligence, we help businesses make informed decisions, optimize their market entry strategy, and develop competitive advantages.

Projects Completed for More Than 125 Medtech Companies

NAMSA has conducted many commercial opportunity research projects for new medical devices. We know it is crucial to consider several factors to avoid significant risks.

You must consider the market needs because misunderstanding your target audience and assuming there is demand for your device without evidence can lead to wasted marketing dollars and a product that doesn’t meet consumer needs.

Conducting market research helps avoid these costly mistakes. It confirms real demand for your device, preventing unsold inventory. Market research also provides data for competitive and profitable pricing, and identifies the best distribution channels to reach your audience efficiently.

Sizing the Market Opportunity

Incorporating the Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) model into your research provides a clear understanding of the market potential, the segment you can realistically serve, and the portion you can capture within a specific timeframe. This helps you set realistic goals and increases the chances of a successful launch and sustained growth for your medical device.

Without thorough market research, you risk launching a product with little understanding of the market, facing potential uptake disasters, unmet demand, fierce competition, and financial ruin. By delving into market research, you can navigate these challenges and ensure a smooth and successful launch.

At NAMSA we have conducted many commercial opportunity studies and supported multiple startups and investors in their commercial due diligence and financing rounds. Some recent examples:

• New vascular stent indication exploration
• Robotic surgery global opportunity assessment
• Urology device in a niche indication
• Aesthetic plastic surgery device
• EMR trauma device for US market

Knowing your competition allows for strategic positioning, and customer insights helps you design a product that addresses their needs more effectively.