The Pioneer’s Burden: Maximizing the Value Of Paradigm-Shifting Innovations

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Developers of disruptive medical technologies face a pioneer’s burden. They’re challenged with monetizing a unique product with no precedent to build upon. The medtech team of the market strategy consultancy Simon-Kucher & Partners shares its perspective on components of monetization strategies for companies offering paradigm-shifting products.

In most industries, the superlatives “breakthrough” and “disruptive” are sizzling marketing claims designed to incite customer interest in a product that is unlike any other; it does something that has never been done before or advances the state of the art in a dramatic way. But when it comes to medical devices and other products used in medicine, these terms induce almost as much fear—on the part of developers and their customers—as excitement.

First, there’s the very conservative nature of medicine, the fact that doctors are trained to adhere to standard…