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A Survey of Success Factors in New Product Development in the Medical Devices Industry

Biomedical Sciences Research Institute Computer Science Research Institute Environmental Sciences Research Institute Nanotechnology & Advanced Materials Research Institute

Brown, A, Dixon, D, Eatock, J, Meenan, BJ and Young, T (2008) A Survey of Success Factors in New Product Development in the Medical Devices Industry. In: Engineering Management Conference, IEMC Europe 2008, Estoril, Portugal. UNSPECIFIED. 5 pp. [Conference contribution]

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URL: http://ieeexplore.ieee.org/xpls/abs_all.jsp?arnumber=4617987&tag=1

Abstract

Abstract—This study of the factors that are correlated withsuccess in New Product Development (NPD) is based on 68responses to a survey of medical device companies in the UK andIreland. It was found that the degree of technological innovation, the involvement of end users in the development process, the dissemination of NPD priorities to staff, and the use of financial analysis throughout the development process were all correlated with success in a statistically significant manner. These findings demonstrate the importance of innovation, integration and the use of financial metrics to sustained product development success. In addition, this survey found that new-to-the world innovations made up only 4.4% of NPD projects in larger companies and 9.3% of NPD projects in small and medium sized enterprises.

Item Type:Conference contribution (Paper)
Keywords:Medical devices Product development Research and development management Technological innovation
Faculties and Schools:Faculty of Computing & Engineering
Faculty of Computing & Engineering > School of Engineering
Research Institutes and Groups:Engineering Research Institute
Engineering Research Institute > Nanotechnology & Integrated BioEngineering Centre (NIBEC)
ID Code:7092
Deposited By:Professor Brian Meenan
Deposited On:20 Jan 2010 11:31
Last Modified:18 Aug 2011 11:08

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