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Identifying Emerging Opportunities in the Pediatric Market

GLOBAL HEALTHCARE COMPANY

Our Fortune 500 health client has focused historically on chronic disease treatment for the adult market, where it is a market leader. As part of its growth strategy, our client was considering expanding its existing product line and customer base by entering the pediatric market; the organization hadn’t previously worked in this space but believed there were significant growth opportunities. When our client wanted better insights about how to move forward, our experts scanned the pediatric space and helped the client identify emerging technologies, assess potential partners and evaluate potential growth opportunities.

Image of an infant n the NICU

Technology landscaping leads to confirmed growth opportunities

Working closely with our client to understand their business and core competencies, we conducted a structured research effort and created a landscape of relevant competitive pediatric products and technologies. Using evaluation criteria, we co-developed with our client, we assessed product categories and technologies that included therapeutic diagnostic devices, software, pharmaceutical, and nutraceutical solutions.

We evaluated and prioritized the opportunities based on adoption rates, clinical evidence, and potential for pediatric impact and growth, and worked with cross-category pediatric and industry experts to validate our findings; these included end users who helped us understand the care delivery context and technology producers. We also characterized evolving market trends and regulatory factors that would affect the categories identified.

As we assessed opportunities we used a phased methodology analogous to house hunting; we identified strategically relevant ‘neighborhoods’, chose must-haves for our client’s house, and selected a limited number ‘interior design’ requirements.  As our client approached the pediatric market, they thought they had a good grasp of the ‘neighborhoods’; however through our work we identified more than double the number of possible targets compared to what the team originally thought possible.

After evaluating hundreds of technical and product solutions in the pediatric market, we confirmed 15 opportunity areas and recommended five with the highest clinical evidence of efficacy and greatest business growth potential. Our client used our recommendations and market trends we documented to refine its growth strategy. As a result, our client has a short list of candidates and is conducting due diligence on the most promising technology and acquisition targets and pursuing opportunities where they can extend their offerings for the pediatric patient population.

We provided our client with a broader market scan they would have completed internally, and identified opportunities they may have missed.  Our client used our insights to expand life-saving tools that neonatal intensive care unit teams need to keep neonates alive

 

The RTI Innovation Advisors team identified key technology trends and market opportunities with potential for our organization to expand our product portfolio. Even in cases where we were aware of the opportunities, the team augmented our knowledge by providing additional insight which was extremely helpful. Global Technology Innovation Scientist
Related Services:
Insights
Related Sectors:
Health

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