Common Problems For Product Innovation
This short series of articles will explore strategies to get products to market faster. It is possible for companies of all sizes to advance the design of innovative new products, however first recognizing and addressing critical issues is paramount for any business aiming to secure an edge in the medical device market.
Introduction
In the competitive arena of medical device development, senior executives consistently encounter significant challenges driving innovation. It can feel as if the road is paved with obstacles. If you are going to up your new product game, there are two key obstacles that need to be addressed: The experience and capacity gap.
The Engineering Experience Gap
Despite having degreed engineers well versed in regulations and development protocols, many companies realize that their teams are under-equipped for the complexities of quickly developing innovative new medical devices and consumable medical products. Often the shortfall comes down to the team having limited experience in core product design realities. This expertise gap can delay product launches and impede the ability to get highly competitive products to market quickly.
Capacity Limitations
Another significant challenge is the size of the engineering team. Often, even seasoned teams are simply not large enough to manage all the demands placed on leadership. Engineers are pulled in a thousand different directions and too often they simply do not have enough bandwidth to invest the time required to develop the next generation of product. This capacity issue can lead to project delays, increased workload, and burnout among team members, further slowing the product development process.
Challenges Filling the Funnel
Addressing the dual challenges of expertise gaps and team capacity is crucial for speeding up product development and achieving the organization wide benefits of producing a full funnel of new products. These obstacles often result in lengthy development cycles and can stymie efforts to quickly bring new products to market. Senior executives can find themselves frustrated and feeling out of options, as they have the proper vision of an innovative and rich portfolio, but without the necessary resources to execute.
Design Department understands these challenges and is committed to empowering your team to get products to market faster. By leveraging medical device prototyping and collaborating with a product development firm that offers structure simulation expertise, companies can bridge the experience gap and overcome capacity limitations. This strategic partnership can streamline the development process, mitigate risk, and ultimately speed time to market. In the next part of this series, we'll delve into how these solutions can unlock the benefits of new product development and empower you to get your innovative medical devices to market faster.
