Identifying Filters for Need Selection



The goal for this week was to refine the need statements through an exhaustive study of the identified problem areas. We analysed the global market size for each of these based on factors like number of patients affected, number of procedures performed, cost of procedures/treatment along with market studies for geographies of India, Japan and Australia.

Deepika
Dr. Jha, we have identified the target population size for each of the discovered needs.
Now, how do we choose a need based on this parameter alone?

Dr. Jha
Market analysis is just one of the many criteria that have to be considered. There are various factors which would help us arrive at final Need. Some of these are factors like:
Patient Impact in terms of morbidity or mortality, Market Saturation, Competitive Landscape, Target Market,  Size, Device Classification, etc.

These Filters are chosen on the basis of the market that one wishes to address. Applying these filters at various stages of development will help you select some of the most favourable Needs and ultimately help you select and determine that one Area of Intervention you should work on.

The challenge is to find a perfect problem, so that even an imperfect solution would sell!

Image source: Cartoonstock
.....from the notebook of Deepika Dixit