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Planning the perfect exit strategy plan for your business

Enticing investors with a good exit strategy for your medical device

Exit strategyWhen developing a medical device, you need to have a sound exit strategy that paints a clear financial and marketability picture for prospective investors. Your exit strategy should be heavily influenced by your product development cycle. As such, it’s important to make the right decisions as early as possible, like choosing the right prototyping services provider.

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Why outsourcing medical device prototyping is essential to product development

The benefits of outsourcing medical device prototyping for product development

Medical Device PrototypingMedical device prototyping is crucial when designing a new medical device. Without it, your concept will never materialize into a commercially viable product. It’s your opportunity to put the real-life applications of your product to the test. These are the applications, after all, that will sell your device when it’s on the market.

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How to mitigate unforeseen costs during product development

Keeping costs in check during product development

Prototyping ServicesDeveloping a novel medical device idea is governed by two key aspects. The first one is whether your medical device will help solve a medical problem in an innovative and unique way, justifying an investment of time and resources. The second aspect is cost.

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Critical steps to empower your product launch plan

Critical considerations when launching a new medical device

Taking a new medical device to market is a big investment of time, human resources, and money. To successfully attract the right financial backers, you need to clearly define your process. It can help to call upon product development services providers to simplify the process. But when push comes to shove, you need a sound launch plan.

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Should I be outsourcing prototyping services or taking it in-house?

The advantages of outsourcing medical device prototyping

As a product development company, your aim is to design a commercially viable medical device that you can take to market. To achieve this goal, you need to optimize every aspect of your production cycle to ensure an appealing profit margin and consequently the best ROI possible for a financial backer. Outsourcing and using prototyping services suppliers can offer certain benefits. Below are some key aspects to consider when deciding what to outsource.

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How to enhance your product’s time to market

Optimizing your medical product’s time to market

Medical innovation is driven by the ever-present demand for new products in the healthcare sector. As technology evolves and new methods of device manufacturing and distribution are developed, product design companies are under pressure to shorten their time to market. Read More >>

How to take the headache out of the FDA approval process for medical devices

Simplify meeting FDA clearance requirements for medical devices

Arguably the biggest hurdle to overcome when taking a new medical device to market in the United States is getting your premarket approval. You and your product design company must imbue every step of your process with the necessary regulatory and compliance requirements to ensure the FDA submission process will be a smooth one.

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Red flags to know when product development services should be outsourced

Defining how product development services should be outsourced

For researchers and entrepreneurs, taking an innovative medical device to market requires careful planning. To successfully commercialize a medical device, outsourcing key aspects to suppliers of product development services can prove highly beneficial. It frees up resources to focus on what you do well. So, how do you plan what to outsource?

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Avoid these common pitfalls of medical product design

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.

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