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Price trend analysis and its implications for the development of new medical technologies

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

Brown, A, Meenan, BJ and Young , TP (2007) Price trend analysis and its implications for the development of new medical technologies. In: 29th Annual International Conference of the IEEE Engineering in Medicine and Biology Society, Lyon, France. UNSPECIFIED. 4 pp. [Conference contribution]

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URL: http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=4353502

Abstract

It is assumed that a company will only developa new medical technology if it has evidence that it willprovide returns that are greater than the investmentrequired to develop that technology and bring it to themarket. The price that can be commanded for the newproducts and the volumes of the products that are solddetermine, in large measure the returns that will be madeon the initial investment. Estimating the sales volumesand prices of products are critical factors in decisionmaking during product development. Once in the marketprices are not static. Rather they are affected by a rangeof factors. This paper considers the effect that marketexperience, represented by cumulative volume of sales,has on prices. How quickly the price declines in responseto experience is dependent on a number of factors. Howprice trends from products already in the market can beused to inform investment decisions of new products andtechnologies is described.

Item Type:Conference contribution (Paper)
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:7108
Deposited By:Professor Brian Meenan
Deposited On:20 Jan 2010 11:40
Last Modified:18 Aug 2011 11:08

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