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Product Adoption Rate

  • 1.  Product Adoption Rate

    Posted 06-30-2019 06:28
    We are attempting to establish the product adoption rate and/or market penetration for our new medical device. Does anyone have examples for other medical devices e.g. ECG, Ultrasound? For example, I have data that states there is currently a 12% market penetration for CPAP machines and 25% for hearing aids in the U.S. Maybe a picture will help:

    Chart
    Mark



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    Mark Adkins NPDP
    CEO
    Lean Med LLC
    mark.adkins@leanmedinnovation.com
    724-708-6320
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  • 2.  RE: Product Adoption Rate

    Posted 04-25-2020 17:41
    Hi Mark,
    This may be too little too late (I just came upon your post), but I too am looking for something regarding market adoption rates and market sizing. This older yet still relevant JPIM article might help.
    Given your product and its novelty, you may want to look at adjacent products and take stock of their adoption rates and plot them relative to a Fisher-Pry S-curve model. Here is one example that uses energy sources. Someone also created a Fisher-Pry curve for biosensors. Perhaps the same methods and similar data sources can be used for your tech, or for the tech you plan to displace.

    Hope some of that helps,
    -Conrad


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    Conrad Jahrling
    Product Manager - Water Wellness
    Watts Water Technologies
    Blauvelt NY
    3127228209
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  • 3.  RE: Product Adoption Rate

    Posted 06-07-2020 12:11
    Thank you Conrad! The question is still relevant today. I will follow up...

    Regards,

    Mark

    ------------------------------
    Mark Adkins NPDP
    CEO
    Lean Med LLC
    mark.adkins@leanmedinnovation.com
    724-708-6320
    ------------------------------



  • 4.  RE: Product Adoption Rate

    Posted 06-05-2020 08:12
    It is very interesting that some of the curves are destined for 100%, while others find asymptotes elsewhere.

    Also very interesting - the ones that are still in a steep incline.

    Personally, I'm old school! I like to begin with the Rogers (Diffusion of Innovations) perspective when understanding what's going on behind the math.

    And of course, in our Covid-era, it's striking the resemblance of those curves with the shapes of the Covid curves.

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    William Burleson
    The AIM Institute
    Pittsboro NC
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