Medical Product Development

Xpand is also working on Medical Product Development on Healthcare sector

Xpand Medical Product Development capabilities include:

Idea Generation

  • Ideas for new products can be obtained from Xpand expertise in Neurosurgical and Medical surgery, Robotics and Medical Imaging basic research.
  • The SWOT analysis (Strengths, Weaknesses, Opportunities & Threats) is used a tool to analyse and getting an insight into new product lines or product features.

Concept Development and Testing

  • Develop the marketing and engineering details into the proof-of-concept prototype.
  • Industrial analysis on the material cost, man-hours involved and replicability.

Beta Testing and Regulatory compliances

  • Produce a physical prototype at a real/industrial scale.
  • Product testing in clinical trials or medical situations.
  • Regulatory compliance.
  • Produce an initial run of the product and sell it in a test market area to determine customer acceptance.

Commercialization

  • Launch the product.
  • Fill the distribution pipeline with product.

Idea Screening

  • The object is to eliminate copyright or patented concepts prior to devoting resources to them.
  • IPR research is done based on an expertise technical know-how.
  • A screening process is defined also according the customer need, market trends and forecasts, technological barriers, and feasibility analysis.

Business Analysis

  • Estimate likely selling price based upon competition and customer feedback.
  • Estimate sales volume based upon size of market.
  • Estimate profitability and break-even point.

Technical Implementation

  • Finalize Quality management system.
  • Resource estimation.
  • Requirement publication.
  • Engineering operations planning.
  • Supplier collaboration.
  • Program review and monitoring.
  • Contingencies – what-if planning.

New Product Pricing

  • Value Analysis (internal & external).
  • Competition and alternative competitive technologies.
  • Differing value segments (price, value and need).
  • Product Costs (fixed & variable).
  • Forecast of unit volumes, revenue, and profit.

Healthcare Innovation

Interested in New Product Development on Healthcare sector?