CLEVELAND, Dec. 1, 2015 /PRNewswire/ -- Nottingham Spirk, a leading consumer and healthcare innovation firm, today announced the publication of a free whitepaper, "The Executive's Guide to Entering the Direct-to-Consumer Medical Market". The whitepaper gives medical product companies, pharmaceutical manufacturers and others a roadmap for successfully penetrating this lucrative segment.
IHS has projected that global revenues from consumer medical devices will top $10 billion by 2017. Moreover, a Harris Poll/Nottingham Spirk survey shows consumers would purchase healthcare products to manage their own health, save money (i.e., fewer doctors' visits), address chronic conditions, and more. Companies that are first-to-market with transformational products have a growing opportunity to meet their needs while creating multiple revenue streams.
"It's been proven time and time again that a product that causes market disruption delivers a higher return than improving an existing product or creating a line extension. Evaluating where the opportunities for disruption lie requires an intimate understanding of current consumer needs and priorities," said John Spirk, Co-founder and Co-president, Nottingham Spirk.
The Executive Guide provides insights and information on:
- Quantifying the consumer medical product market's potential value
- Identifying products that are ripe for development
- Critical considerations for successful consumer adoption, from pricing to aesthetics
- Aligning distribution and sales
- The importance of executive-level sponsorship
To download the whitepaper, please go to http://bit.ly/1SurGXp.
Nottingham Spirk's consumer product, healthcare product and medical device innovations range from the SpinBrush, which became the world's best-selling electric toothbrush, to the HealthSpot® station, a telemedicine-enabled kiosk providing a groundbreaking alternative to traditional doctors' visits.
The whitepaper is one of several complimentary resources from Nottingham Spirk and its healthcare practice InnovateMD™. The company will also hold a free webinar on Tuesday, December 8, 2015 from 1-2 pm EST on "How to Create New Revenue Streams from Consumer Healthcare Products". In addition, organizations can request a complimentary analysis for their business. Nottingham Spirk associates will identify consumer opportunity categories that align with their strategy, strengths and brand equity against their competitive set. For more information, please contact Jennifer Torchia at JTorchia@nottinghamspirk.com.
About Nottingham Spirk
Cleveland-based breakthrough innovation firm Nottingham Spirk is the innovator of wildly successful new businesses including: SpinBrush, Swiffer SweeperVac, Sherwin Williams Twist & Pour™, and HealthSpot®—the first telemedicine kiosk. Launched 44 years ago, Nottingham Spirk has developed over 1,000 commercialized patents that have generated over $50 billion in new revenue for industry leaders as well as fast-growth entrepreneurial firms. Through our proprietary Vertical Innovation™ approach, we handle every aspect of innovation under one roof, leading to significant time and cost efficiencies as well as ensuring confidentiality and intellectual property protection. To learn more about our collaborative approach and successes with our client partners, visit www.nottinghamspirk.com.
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SOURCE Nottingham Spirk