The Art of Market Sizing: Defining your Technology's Opportunity

Event description

Presenters: Emily Vernon, MMB and Brailey Faris, MSc

As a medical product innovator engaged in technology development, you are likely dedicated to seeing your product reach the market and impact both patients and the broader healthcare system. Navigating this journey necessitates a comprehensive understanding of your technology's potential to be adopted, which includes defining your technology's opportunity through market sizing. This webinar will explain the importance of market sizing, when to perform it during development, and will consider different methods as well as resources available for conducting market sizing.

This webinar is presented by Emily Vernon and Brailey Faris of RTI Innovation Advisors. Emily readily supports early MedTech and life science innovators by advising on commercialization strategy and providing critical market research insights to improve the likelihood of successful launch and adoption. In addition to Brailey's work with NIH-funded small businesses, she facilitates design thinking workshops across different industries to help translate products to the market.

Webinar presented on April 23, 2024 to an invited audience.

This video is provided for educational purposes only.

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Chapters

00:00
Welcome
01:26
Methodologies to Understand Market Size – Top-Down and Bottom-Up Approach
06:34
TAM, SAM, and SOM Acronyms for Market Sizing
07:06
Top-Down Methodology
13:01
Case Study for Top-Down Methodology
15:48
Resources for developing a top-down market sizing assessment.
17:18
Best practices and watchouts when developing a top-down market assessment.
22:36
Bottom-up Methodology
29:54
Best practices and watchouts with bottom-up market sizing.
34:23
Case Study for Bottom-Up Methodology
37:05
Comparison of top-down and bottom-up estimates.
39:45
Wrap Up
42:48
Q&A
This research was, in part, funded by the National Institutes of Health (NIH) Agreement OT2 HL157844-01. The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the official policies, either expressed or implied, of the NIH.