Assessing the market for a novel device concept

The University of Brighton required a market assessment for a novel nerve test device concept.

The Challenge

Market research was required to identify clinical opinion of the device concept, determine market size and route to market barriers and opportunities for a nerve test device.

The Approach

The research protocol required primary research to identify and capture the opinion of senior clinical representatives and management level clinicians such as Consultant Neurologists, Podiatrists, Diabetes Specialist Nurses, Physiotherapists and Occupational Therapists.

Desk research was also completed to profile the size of the healthcare workforce in overseas markets and to review competitive technologies and protocols identified by respondents.

Client comment:

“We were extremely impressed by how quickly Accelerate Associates understood the device concept and devised the key questions to determine the market for the device. Furthermore they have excellent contacts and were able to amass detailed feedback that spanned the relevant clinical professions. The resulting report is invaluable.”

Associate Director, Knowledge Exchange, University of Brighton

The Results

• Accelerate Associates conducted 20+ depth clinician interviews and delivered a detailed market assessment report identifying the clinicians mostly likely to conduct nerve tests, market need for the device, market sizing and price sensitivity analysis.

• The research confirmed that patient sensation testing is conducted by Physiotherapists, Occupational Therapists, Neurologists, Podiatrists, Diabetes Nurses and General Practitioners.

• Sensory tests commonly used by clinicians include light touch, monofilament, hot/cold, pin prick, deep pressure, vibration, two-point discriminator, proprioception, and nerve conduction tests.