So many healthcare entrepreneurs assume that developing new innovations that customers need or want will automatically result in market success. However, this is far from what research indicates.
The reality is that commercialization is a complex process with many inter-woven factors and decisions that affect success. To put it simply: it’s hard.
Apart from missing the complex nuances of the process, there are three key issues that help explain why so many innovators struggle to develop an effective commercialization plan: