Competitive Analysis

Competitive Analysis provides a comprehensive assessment of the competitive landscape for an emerging medical technology or pharmaceutical. Performed in the early stages of technology development, a competitive analysis delivers an objective overview of the market's perception for a potential product and assists in positioning the product for future commercial success. The Competitive Analysis identifies the segment of the market that is most suitable for the emerging medical technology or pharmaceutical.

The critical factors that must be addressed in analyzing the competitive environment for a biomedical technology or pharmaceutical under consideration include understanding the products that are currently commercially available and the specific physician and patient needs these products address. Accurate and robust company profiling must be performed including financial, technological, sales and marketing and regulatory perspectives. In addition to existing competitors, it is also important that the analysis identify biomedical technologies or pharmaceuticals that are either only in clinical trials or under development that may potentially compete with the biomedical technology or pharmaceutical under consideration at the point of market released.

Assessing the competitive landscape is an initial step in understanding the market for an emerging biomedical technology or pharmaceutical. The analysis typically progresses to more involved stages with a clinical assessment of the biomedical technology or pharmaceutical by the physician community as well as an understanding of the critical market drivers and market trends that will potentially determine commercial adoption.