Short answer
When developing new medical devices, especially within smaller organizations, focus on creating 'new to the world' innovations rather than relying on minor product upgrades.
- Field
- Innovation & Design
- Source
- Journal of Manufacturing Technology Management (2009)
- Method
- Survey
- Sample
- 38 companies, describing 68 products
- Evidence
- Moderate effect
Small companies in the medical device sector are more likely to develop 'new to the world' products that exceed market success expectations compared to derivative products. This innovation & design research insight is drawn from a 2009 study published in Journal of Manufacturing Technology Management. Using Survey with 38 companies, describing 68 products, researchers explored how this design variable affects real-world outcomes. The key design takeaway: When developing new medical devices, especially within smaller organizations, focus on creating 'new to the world' innovations rather than relying on minor product upgrades.
Novel medical devices developed by small companies outperform market expectations.
Small companies in the medical device sector are more likely to develop 'new to the world' products that exceed market success expectations compared to derivative products.
Journal of Manufacturing Technology Management · 2009
Key Findings
- 01New to the world products were much more likely to exceed company expectations of market success compared to derivative products.
- 02The majority of these innovative products were developed by small companies.
- 03Large companies appear to favour minor upgrades over major upgrades, which proved less successful overall.
Application
Design takeaway
When developing new medical devices, especially within smaller organizations, focus on creating 'new to the world' innovations rather than relying on minor product upgrades.
How to apply
For a new product development project in the medical device field, conduct thorough market research to identify opportunities for truly novel solutions, and consider the resources and agility of your organization when deciding between incremental and radical innovation strategies.
Project actions
- 01When researching a product area, look for gaps where a completely new solution could be developed.
- 02Consider how your company's size might influence the type of innovation you pursue.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Focuses on a specific industry (medical devices).
- +Compares innovation types and company size.
Limitations
The survey data is limited and may not represent all companies or products in the medical device industry.
Reliability & validity
The study's validity is limited by its exploratory nature and small sample size, making the findings indicative rather than conclusive. Reliability could be improved with a larger, more representative sample and standardized measures of market success.
Think critically
Why might small companies be more successful with radical innovation in the medical device sector compared to larger companies?
Design Principles
"Radical innovation, driven by smaller, agile entities, can lead to superior market performance in specialized sectors like medical devices."
This finding suggests that a focus on radical innovation, rather than incremental upgrades, can yield greater market rewards, particularly for agile, smaller organizations. Designers and product developers should consider the strategic advantage of pursuing novel solutions within the medical device industry.
What This Means for Your Design
Smaller medical device companies do better when they invent something totally new, rather than just making small changes to existing products. Big companies tend to make small changes, but these don't work as well.
How to use in your project
- 1.Use this research to justify a focus on radical innovation in your design project, particularly if your hypothetical company is small.
- 2.Cite this study when discussing the potential market success of novel versus derivative product concepts.
Add to My Project
Quick Cite
Paragraph starter
This research indicates that 'new to the world' products in the medical device sector are more likely to exceed market success expectations than derivative products, with small companies being key developers of these innovations. This suggests that a design project aiming for significant market impact should prioritize radical innovation, especially if operating within the constraints and agility of a smaller enterprise.
Source
Journal of Manufacturing Technology Management
An exploratory survey of current practice in the medical device industry
journal · 2009
View sourceQuestions About This Research
- What does the research say about novel medical devices developed by small companies outperform market expectations?
- When developing new medical devices, especially within smaller organizations, focus on creating 'new to the world' innovations rather than relying on minor product upgrades. Evidence: Journal of Manufacturing Technology Management (2009).
- Why does "Novel medical devices developed by small companies outperform market expectations." matter for design?
- This finding suggests that a focus on radical innovation, rather than incremental upgrades, can yield greater market rewards, particularly for agile, smaller organizations. Designers and product developers should consider the strategic advantage of pursuing novel solutions within the medical device industry.
- How can designers apply this research?
- When developing new medical devices, especially within smaller organizations, focus on creating 'new to the world' innovations rather than relying on minor product upgrades.
- What were the main findings?
- New to the world products were much more likely to exceed company expectations of market success compared to derivative products.. The majority of these innovative products were developed by small companies.. Large companies appear to favour minor upgrades over major upgrades, which proved less successful overall.
- What research method was used?
- Survey with 38 companies, describing 68 products.
- How strong is the evidence?
- Evidence strength is rated Moderate effect, based on a 2009 journal from Journal of Manufacturing Technology Management.
- What should I do differently in my next project?
- For a new product development project in the medical device field, conduct thorough market research to identify opportunities for truly novel solutions, and consider the resources and agility of your organization when deciding between incremental and radical innovation strategies.
- What are the limitations?
- The findings are indicative rather than conclusive due to the limited scope of the survey.