Medical Device Market Research

Medical Device Market Research in Seconds with AlphaSense

Whether you are conducting research to better understand the market, track your competitors, or spot your next big investment in the medical device space, AlphaSense can help you make the right business decisions with confidence and speed.

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AlphaSense is a leading provider of market intelligence, including 10,000+ high-quality business sources such as news and trade journals, global and SEC filings, and industry research from over 1,500 leading research providers—all in a single platform.

Competitive intelligence teams, researchers, and strategists in the medical device sector have access to private company documents, regulatory documents, expert calls, and industry research through our platform—all of which are necessary for comprehensive market research and confident decision-making.

AlphaSense also saves you hours per project by centralizing the insights you need and delivering them to you with intelligent, AI-based smart search technology. Features like Smart Synonyms™ and Smart Summaries recognize the intent behind your search and zero in on the most important insights contained within each source, while Trending Topics and customized dashboards enable you to monitor the precise themes and companies that are of most interest and value to your strategic goals.

Advanced filtering features help you easily get to the types of content needed for your specific research. And automated real-time alerts ensure you never miss an update from the companies, treatment areas, and industries you most care about.

These features and more are why G2 has consistently rated AlphaSense a leader in market intelligence for corporations and financial institutions alike.

Frequently Asked Questions

How Top Medical Device Companies Use AlphaSense

The medical device industry is the booming fast-growing sub-sector of the medical technology (medtech) industry. While this industry has been around for decades, the 2020 global pandemic proved to be a catalyst for accelerated growth in this space—a trend that is only expected to continue into the foreseeable future.

The medical device industry has proven to be one of the most opportunistic—capable of improving patient outcomes worldwide and transforming the healthcare system as we know it—with increased demand from investors. It’s also constantly expanding, as new entrants and innovations are entering the space at a rapid clip.

That’s why it’s never been more important for medical device companies to have an airtight market research process and a proactive strategy. Without the right tool, the task of parsing through vast quantities of data, locating the right insights, and then analyzing and implementing those insights becomes herculean. Moreover, manual market research dramatically slows you down and leaves you vulnerable to human error and missed insights.

AlphaSense not only helps you stay informed on the critical insights that matter most, but empowers you to apply those insights towards specific strategic goals, go-to-market motions and commercialization tactics. Our platform speeds up your time to insight so you can increase research confidence and be more proactive in strategy-building.

Here’s how our medtech and medical device clients use AlphaSense to succeed:

Competitive Intelligence

AlphaSense surfaces all the competitive insights you need so that you can benchmark against peers, find out about any emerging competitors or technologies, generate ideas for new product development, and identify competitive risks—all in one place.

You can receive real-time alerts for 510(k) filings, competitors’ earnings reports, topical broker research, and expert call transcripts. And with our company recognition and Search Summaries features, you will always be first to know about any competitor updates, such as launches and recalls of new devices, technologies, or treatment methods.

Corporate Development and M&A

AlphaSense allows you to get smart on an investment target, emerging technology, intellectual property, or competitive landscape by using AI to find insights faster. Our natural language processing (NLP) feature, theme extraction, enables you to spot interesting assets within the noise by uncovering financial metrics beyond those found in standard 10-Ks or 10-Qs.

Theme extraction allows you to see how incumbent companies are conducting their M&A strategy, including what types of companies are getting acquired or who they are funded by, as well as how large healthcare firms are approaching their investments in smaller medtech companies.

This feature is critical in this space because new companies, technologies, and devices are constantly emerging, and having access to a tool like AlphaSense keeps you in-the-know— without the information overload.

You can also use AlphaSense to gain intel on private companies. Instantly access funding round information, acquisition history, public comps, and peer comparison charts—without digging through multiple, potentially fruitless, sources.

Market Landscaping

AlphaSense ensures you never miss a critical industry update with customizable watchlists and real-time alerts for any companies or treatment areas you are interested in.

AlphaSense also makes it simple to monitor specific subsectors of the medtech industry by searching those topics on the platform and seeing how the keywords have trended over time.

For instance, if you are interested in the TAM and growth outlooks for cardiovascular devices, you can uncover key insights such as: the U.S. forecast for adults with heart disease, current existing treatments and new diagnostic technologies for cardiovascular health, the main players in the cardiovascular medtech space, how much healthcare systems have invested already in cardiovascular medical equipment, and so on, by simply searching “cardiovascular” AND “medical devices” and filtering for each content set in our platform.

Commercialization

If you are interested in commercializing a product, device, or technology, AlphaSense can help you extract market data from qualitative sources to develop TAM analyses, evaluate market opportunities to forecast sales, and develop go-to market strategies.

AlphaSense also allows you to find answers to key questions during commercialization:

Is the concept novel and validated? To answer this, you need to evaluate the market landscape—what kinds of companies are in this space, what technologies are being used, what are the health systems using this tech, what other companies have tried bringing a similar product to market in the past, and what do experts and doctors say about similar devices or technologies?
Has the concept cleared the regulatory and FDA requirements? For this, you can consult regulatory documents such as 510(k) filings, FDA statements, and European Medicines Agency documents, all housed on the AlphaSense platform.
Is your product faster, better, or more cost-effective than competitors’? For this, you can rely on competitive signals and M&A tracking, so you can always be aware of key factors such as a huge incumbent adding a similar company to its portfolio, health system/consumer spending in a potential target market, and what pricing and profitability look like for similar technology.

One important consideration in commercialization is the possibility of partnering with a biopharma company or health system in order to lower cost or expand reach. For this, you must have a tool that enables you to conduct in-depth research on public and private companies.

Finally, successful commercialization involves finding reliable manufacturing and distribution partners. AlphaSense can help uncover who is currently making similar devices, how they are shipped, and what geographic regions are best to target with the supply chain.

Accelerate Your Medical Device Research Process With AlphaSense

AlphaSense aggregates all the essential market research perspectives you need in one place, so you can have a complete picture of the company profiles, markets, or trends you are researching.

Combined with proprietary AI and automation functionality not found on other platforms, AlphaSense helps you dramatically increase the breadth, depth, and accuracy of your research.

Here’s what you get when you use the AlphaSense platform for your market intelligence:

Aggregated Market Research

AlphaSense houses a vast universe of over 10,000 trusted content sources, including but not limited to:

Company documents such as event transcripts, global filings, press releases, company presentations, product brochures, and ESG reports, in addition to private company documents
Industry research from the world’s top financial research firms, including Cowen, Morgan Stanley, Bank of America, Jefferies, and JP Morgan, as well as our proprietary equity research content set Wall Street Insights that is specifically tailored for corporate clients
Unique industry expert perspectives from customers, competitors, medical experts, doctors, and partners
Thousands of curated news sources, trade publications, and regulatory information such as 510(k)s

Our platform not only houses all of the content you need to make rapid data-driven decisions, it also helps you cut through the noise with advanced search functionality.

Semantic Search

Instead of digging through fragmented reports and alerts, you can rely on our semantic search to ensure you never miss out on critical insights. Our AI search technology automatically recognizes what you are looking for and delivers the results that match the intent behind your query. This means you don’t have to do multiple searches to get the results you need, and you can be more confident in the comprehensiveness and accuracy of your research.

Sentiment Analysis

With AlphaSense, you can use AI-based sentiment analysis to identify, quantify, and analyze levels of emotion within text, particularly earnings calls and expert transcripts. Understanding sentiment can help you catch the subtle inflection points in language that move markets and provide early indicators of shifting corporate performance. This feature works in seconds, saving hours previously spent combing through company documents and expert transcripts for the best insights.

Generative AI

Unlike other generative AI (genAI) tools that are focused on consumer users and trained on publicly available content across the web, AlphaSense takes an entirely different approach. As a platform purpose-built to drive the world’s biggest business and financial decisions, our Smart Summaries feature leverages our 10+ years of AI tech development and draws from a curated collection of high-quality business content.

With Smart Summaries, you can glean instant earnings insights—reducing time spent on research during earnings season, quickly capture company outlook, and generate an expert-approved SWOT analysis straight from former competitors, partners, and employees. Additionally, all sources are cited, so you can verify any information by simply consulting the source documents.

Medical Device Insights From the AlphaSense Platform

Analyzing Expert Transcripts: 4 Trending Conversations in Medtech

We pull from our database of expert call transcripts to uncover the top trending medtech topics, as discussed by medical professionals and industry leaders.

Tracking the Next M&A Deal: 16 Medtech Companies to Watch

We use our platform to identify the most lucrative M&A opportunities in the medtech space, based on products, growths, and margins.

Medtech Trends Leading the Post-Pandemic Healthcare Conversation

We use our platform’s vast content database—including equity research, earnings transcripts, news, and expert calls—to identify the top themes and topics in the medtech space that are trending quarter over quarter.

Case Study: Fortune 500 Medical Device Leader Produces Higher Quality Analysis

Read about how a Fortune 500 medical device leader uses AlphaSense to increase efficiency in their market research and analysis process.

Frequently Asked Questions

What is the overall outlook for the medical device market?

The overall forecast for the global medical device market is overwhelmingly positive, with an expected revenue of $595 billion in 2024 and a CAGR of 6.1% from 2022 to 2030. The healthcare sectors expected to be most affected by growth in the medical device space in the near future include:

Cardiovascular
Orthopedic
Neurovascular
Urology
Diabetes

What are the top medical device market trends that companies and investors should be aware of today?

Some of the top trends in the medical device industry today are:

Continued growth of in-vitro diagnostics and digital therapeutics
High growth rate in wearable and biometric monitoring devices
Challenges with entering the European marketplace
Increased speed to market
Greater focus on sustainability and ESG

For more information on these trends, as well as additional trends driving the medical device industry, check out our post Medical Device Trends and Outlook for 2024.

What are the key components of effective market research for medical devices?

Effective market research for all medtech companies involves analyzing market size, identifying target audiences, assessing competition, and understanding the regulatory landscape. For medical device companies in particular, market research also involves evaluating emerging technologies and tracking medical device manufacturers, suppliers and distributors.

In the AlphaSense platform, our content database contains all the key information on your competitors and the market landscape, and our advanced AI search technology makes it easy to track specific topics, themes, and companies over time and ensure you never miss a critical update.

What are the key benefits of conducting market research in the medical device space?

Because of the fast pace and constant innovation characterizing this sector, market research is imperative for developing a more proactive strategic approach and staying competitive and aware of any pertinent developments in the field.

Market research in the medical device space helps companies and investors identify emerging trends and competitors, find new opportunities, assess potential risks, prioritize R&D efforts, and make informed strategic decisions.

Also, it’s imperative for companies and investors in this space to be well aware of any M&A deals or device approvals that might make it more difficult to sell a device or enter a space, or that could create a gap that needs to be filled.

What are the common challenges in conducting market research in the medical device space?

Common challenges could include data accuracy, regulatory complexities, and the need for specialized expertise.

Additionally, the medical device space is rife with smaller market players and startups who do not yet have public data on their earnings or revenue. It’s important that you are able to track these new entrants before they become too large to compete with, partner, or acquire.

A market research platform that aggregates accurate, reliable data and provides access to public and private company documents, regulatory information, and expert perspectives can help overcome all these challenges.

How can medical device companies access reliable market data and analysis?

There are several ways for medical device companies to access reliable market data and analysis. They can rely on their own surveys and studies, which provides greater control but could introduce limitations or bias and also requires more resources.

Alternatively, medical device companies can rely on a market research platform like AlphaSense that aggregates premium, public, private, and proprietary sources including regulatory documents, industry reports, company documents, equity research, and expert calls (medical doctors make up a high percentage of the experts in our transcript library).

What role does regulatory compliance play in medical device market research?

Regulatory compliance is crucial in the medical device space. Understanding and staying compliant with FDA and international regulations is vital to ensure product viability and successful market entry. One of the most important sources of truth for regulatory compliance are 510(k) filings (which can be found in real time on our platform), which show product approvals and recalls and can inform R&D, partnership, and commercialization strategies.

How can market research aid in identifying unmet medical needs in the industry?

Market research helps in identifying gaps and unmet medical needs by analyzing patient demographics, healthcare provider feedback, and emerging healthcare trends, disease landscapes and projected market need for certain treatments.

How can market research aid in product development for medical device companies?

Market research provides valuable data on consumer preferences, pain points, and unmet needs of healthcare providers. This information helps companies tailor their products to meet specific demands and stay competitive. Additionally, market research is crucial for keeping tabs on competitors’ product development and upcoming launches, so that you can be more proactive with your strategy.

Who are the main players in the medical device space?

In 2023, the key players in the medical device space are: Medtronic, Abbott Laboratories, Johnson & Johnson, Siemens Healthineers, Fresenius, Roche, Becton Dickinson, GE Healthcare, Stryker, Danaher.

To read about how AlphaSense helped Fresenius create a more efficient workflow and enhance their research process, check out this case study.

Try AlphaSense for Free

With AlphaSense, you can conduct comprehensive qualitative research that gives you the competitive edge and empowers your ability to make smarter, more confident decisions. Stay ahead of the rapidly evolving medical device landscape and level up your strategy today.