Common pitfalls of medical product design and how to avoid them
Medical product design is a complex process that involves research, product testing, clinical trials and regulatory prep work before you can even start thinking about bringing your device to market. Your research and development team must make sure the medical value proposition is innovative, helps solve a tangible medical problem and benefits both medical staff and patients. But you also need to consider pitfalls that could jeopardize your device’s commercial potential.
Health care sector adoption
There are many players in the healthcare sector, each with their own vested interest. A new medical product can offer alternative treatment options and shorten hospitalization time. But these perceived improvements may not always be welcomed by industry stakeholders. They may question your products accountability procedures or your device can be perceived as not providing advantages over tried and tested practices. In short, a sound idea in the lab, with the research data to back it up, does not necessarily translate to a commercially viable product in the field.
Competition and pricing
Competition drives innovation, which is also true in the medical sector. Your innovative idea must lead to a medical product that offers a unique value proposition with obvious benefits, all the while taking pricing into account. If your product is cutting edge and could potentially appeal to a significant portion of the healthcare industry stakeholders, but proves too costly to adopt compared to existing alternatives, it becomes a difficult sale. Investors need to know there will be a tangible profit margin to justify investing resources in production and distribution.
Manufacturing and time to market
Investors will need a realistic timeframe in which they can expect your prototype to be granted access to market. If you can’t guarantee that, but a competitor can, you will lose said investor. The same applies with the proposed manufacturing process once your device is cleared for commercialization. If your product’s manufacturing is an intricate and time-consuming process, it will reduce its commercial value. Standardization, automation, and choosing the right manufacturing partners are as important to your medical product design process as the problem it helps solve.
A good medical product design strategy optimizes the use of human resources. Mismanagement and overly complicated procedures can lead to a higher risk of human error and a prolonged development or production cycle. Furthermore, over reliance on human resources increases the expenses and reduces the overall profit margins.
Regulatory and compliance requirements
The healthcare sector’s regulatory and compliance requirements are very strict and should permeate every aspect of your medical product design strategy. Prototyping, manufacturing, testing, medical trials and value proposition are governed by compliance. Your medical product design strategy must embrace these and avoid failing to meet these requirements at any point. If not, you risk seeing your device development grind to a halt while costs increase through additional time and resources. This in turn will lengthen your time to market.
Outsourcing product design development
Technosoft can assist you with several key aspects of medical product design, leaving you with more time to increase your chances of success when it is time to take your device to market. We offer:
- In house prototyping and manufacturing, reducing the need for additional resources like personnel and facilities.
- In-house engineer know-how to help you streamline the production and manufacturing process, giving you all the tools needed to build a comprehensive business plan.
- Assistance with compliance and regulatory requirements, helping you prepare to ensure your product is eventually granted access to market.
- We operate on a project basis, which means lead and turnaround times remain short, reducing your overall time to market and helping you keep your expenses in check.
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