Commercialization Strategy
Developing the technology is only one part of the journey to commercial success. Evaluate and optimize your product market fit with an evidence-based commercialization approach.
We’ve Helped Clients Develop Products for Over 20 Years
Simbex combines industry leading product design, engineering, commercialization, regulatory, and reimbursement expertise with an established production-pathway and clear market access, to provide a holistic ideation-to-market solution.
We Are Your Partner
We offer expert consultation and education to help you achieve your product and business goals.
We’ve Been in Your Shoes
Our team leverages a commercialization methodology developed over two decades of bringing our own and client’s technologies to market.
We Provide Real-World Solutions
Our team equips you to bring your innovation from prototype to commercial product. We emphasize product-market fit, so that your device works as well in the real world as it does in the laboratory.
Our Commercialization Approach
Is there sufficient demand for this product in the real world?
Problem Definition
Describing pain points and consequences if unaddressed by the innovation
Market Sizing
Top down and bottom up quantification of market volume, growth, and trajectory
Market Segmentation
Defining the subsections within existing customer groups (considering divisions caused by opinions, attitudes, geography, socioeconomic factors, and barriers)
Who is the target customer and what motivates them to buy the product?
Early Adopters
Pinpointing customer groups who will be first in line to buy and test
Key Opinion Leaders
Mapping the professional organizations and individuals with the most influence over the target market
Launch Optimization
Formulating a plan for initial sales to the target customers and expansion to additional market segments
What other options solve the problem and what makes this a better solution?
Technology SWOT
Objectively evaluating the innovation’s strengths, weaknesses, opportunities and threats
Alternative Solutions
Examining the other choices available for solving the same problem
Value Differentiation
Developing a value proposition that highlights the unique strengths of the product and its alignment with stakeholder needs
What regulatory barriers must be cleared before this product launches?
FDA Submission Pathway
Reducing risk by accounting for future regulatory requirements
Quality Requirements
Planning to follow documentation and good manufacturing processes
Industry Standards
Identifying product testing requirements and forming a verification and validation plan
What proof of effectiveness is required by key stakeholders?
Current Practice Standards
Understanding the status quo and gauging the resistance to change
Care Pathway & Workflow
Following the journey of each stakeholder along the continuum of care
Evidence Portfolio
Determining the appropriate depth and level of rigor for the product and concept testing process
Will the patient’s health insurance pay for this product?
Benefit Category/Coding
Locating the innovation within the existing medical insurance framework
Coverage Policy
Comparing existing policy determinations and justifications to predict whether the product will be considered reasonable and necessary
Payment & Pricing
Calculating the actual dollars paid and comparing against stakeholder expectations
