Tissue engineering/regenerative medicine ventures should invest early in market research to understand the future market's needs

摘要

In this issue of Tissue Engineering, Part B, you will find the review article, Meeting the Need for Regenerative Medicine Therapies: Translation-Focused Analysis of U.S. Regenerative Medicine Opportunities in Cardiovascular and Peripheral Vascular Medicine Using Detailed Incidence Data, by Tillman et al. I would like to highlight this article, not necessarily for the therapeutic-specific conclusions drawn by the analysis, but for the need for this type of analysis as a critical element in the development of any new venture. Without a firm grasp of the business proposition, the venture is likely to follow a noisy, if not flawed, path. While the need for this clear vision is important to any new business venture, it is especially vital to tissue-engineered products, which have been shown in many cases to be more complex to develop and manufacture. Market research is the tool needed to clarify this vision. Market research is a broad term that encompasses many different techniques (e.g., surveys and focus groups), levels of sophistication, expense, and range from qualitative to quantitative. There is a common goal to all of these: know your customer and the market landscape (competition, trends, etc). Only through a solid understanding of these elements, can one truly appreciate the product's opportunity, value proposition, and benefit to the end user.