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 over 100 technical and product solutions in the pediatric market, we confirmed 15 opportunity areas and recommended five where we found the highest clinical evidence of efficacy and saw the 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 much broader market scan than 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, and this is core to RTI’s mission of translating science for the global good.