Secondary research to assess the market for new healthcare innovations.

Secondary research to assess the market for new healthcare innovations.

Client: A public sector organisation that collaborate with industry and academia to help translate ideas into valuable healthcare products and services that bring economic benefit to Wales.

 

Summary

Fulcrum conducted secondary research to assess the market for 6 proposed healthcare innovations. This research included market size analysis, competitive analysis, and a description of the external factors that would impact the future market for these innovations.

The Problem

The client selected Fulcrum to analyse the market for a range of innovative healthcare-focused products and services that had been developed by Wales-based companies and academics. The innovations assessed were;

  • A COVID-19 Ventilator for low-income countries
  • An environmentally friendly COVID-19 mask
  • A Software platform for social prescribing
  • A VR platform for medical education
  • An AI program to monitor care home residents
  • Using drones to improve healthcare services.

The Solution

Fulcrum conducted extensive secondary research into these 6 areas, analysing the market environment. This included a review of the market size, identification of direct and indirect competitors, an external audit of the factors that may impact the uptake of this technology, and an internal audit showing the internal considerations that need to be considered by the technology developer.

The Outcome

6 secondary market research reports were completed, giving an overview of the market for each of the proposed healthcare innovations.