Integrated Technologies Ltd (ITL) - a global medical device product development, product design and contract manufacturing service company - has recently published an infographic that displays the entire product development cycle, from concept to commercialization and product launch.
Source: qmed.com - Infographic: The Journey from Idea to Commercialization
The infographic intends to show the development steps of a product, within a contract manufacturing company. But the process can also be replicated at large medical device companies that manufacture their products by themselves. At the bottom, one can see the early stages: idea, market research, business plan, funding round. Then comes the fun part for medical engineers: product development, product design, clinical trials. When the product is ready to be launched, marketing and sales have to do their part: commercialization.
As for post-market, Integrated Technologies Ltd listed steps such as after-sales support, obsolescence mitigation, further product development and manage regulatory change (especially true for medical devices!). The infographic also shows stages of the development of a product range, entering new markets/countries, IPO or technology transfer.
As a Brazilian-based biomedical engineering company that provides services from the idea to the pre-series production, Biokyra works to support all the stages of the project and minimize the risks of it. Our goal is to make your idea become an innovative and successful product.