Medical Product DevelopmentXpand is also working on Medical Product Development on Healthcare sector
Xpand Medical Product Development capabilities include:
- 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.
- Launch the product.
- Fill the distribution pipeline with product.
- 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.
- Estimate likely selling price based upon competition and customer feedback.
- Estimate sales volume based upon size of market.
- Estimate profitability and break-even point.
- 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.
Interested in New Product Development on Healthcare sector?