Dixon, D., Brown, A., Meenan, B.J., & Eatock, J. (2006). Experiences of New Product Development in the Medical Device Industry. Medical Device Technology, 17(3), 20-22.

Format: Peer-reviewed article

Type: Research — Non-experimental

Experience level of reader: Fundamental

Annotation: The preliminary results from a questionnaire designed to identify factors which contribute the most to the market success of a new medical device. The initial findings confirmed that the medical device industry is very competitive and product quality and increased value compared with competitors have the most impact on the success of a new medical device.

Setting(s) to which the reported activities/findings are relevant: Large business, Small business (less than 500 employees)

Knowledge user(s) to whom the piece of literature may be relevant: Manufacturers

Knowledge user level addressed by the literature: Organization

This article uses the Commercial Devices and Services version of the NtK Model

• Overall, product quality, relative to competitors (as defined by the customer), was ranked as the most important factor in how the product performed in the market. Product "value" compared with that of competitors and the clinical effectiveness of the product were then ranked as the next most important aspects, respectively.
  Survey results from medical device manufacturers.
  Occurrence of finding within the model: Step 7.13, Step 6.3, Step 6.1

• Of the factors outside the company's control, the level of competition and the size of the market were reported to have the greatest impact on product success followed by an unforeseen change in the market.
  Survey results from medical device manufacturers.
  Occurrence of finding within the model: Tip 2.2, Tip 4.1