There are several barriers to conducting medical device market research. Cost, participation rates, and methods are just some of them. Read on to discover the best ways to conduct the research. Also, learn about overcoming these barriers to create a successful medical device market research. This article will look at the cost of medical device market research and some of the key factors you should consider before starting a study. Hopefully, these tips will help you make the best use of your resources and maximize your ROI.

Obstacles to conducting medical device market research

Using mobile devices to conduct medical device market research has numerous advantages. It is not location-specific, allowing researchers to reach more people. Another advantage is that it is easier to reach respondents who may be difficult to contact. For instance, conducting medical device market research on healthcare professionals and patients who cannot attend a traditional study may be impossible due to busy schedules. Using mobile devices to collect data and analyze it is a great way to overcome this hurdle.

There are many challenges to conducting medical device market research. One is that talking to healthcare professionals can be expensive. Another issue is that if you are not aware of the risks associated with these interviews, you may not be able to get the information you need. It is also possible to ask the wrong questions, which may skew the results. A recent study found that healthcare professionals are generally unwilling to participate in medical device market research because they fear their responses will hurt their reputations and sales.

Methods

As a medical device company, conducting market research on your competitors and other relevant players is important to determine which product or service is most relevant to your market. Medical professionals are invaluable resources, as they have firsthand experience of the needs and preferences of the market. They can also provide critical insights about device characteristics, messaging, and pricing. The downside is that conducting this type of research can be very expensive and may involve talking to a small market sample.

In addition to focusing on market research, ethnographic research is a great way to better understand the needs of stakeholders. It provides insights into the unmet needs of patients throughout the care continuum. This research can be useful to medical device innovators because it provides an intimate understanding of people. By focusing on different stakeholder groups, it is possible to build better products and services relevant to their market.

Cost

Medical device market research can provide valuable information about major players and manufacturers in the medical device industry. You can learn about the characteristics and messaging of specific devices and general market conditions. Market research can also offer critical insights, but it can be costly. Robert Kaminsky recommends that medical device companies first look at publicly available data and only pursue custom research when they cannot find the information they need. But there are many costs to consider, including the time and money spent talking to healthcare professionals.