A leading NHS clinical software company needed help to assess whether there was a market for a potential new software product.
Monmouth carried out an in-depth market analysis looking at two specific opportunities – relating to cardiac and chronic obstructive pulmonary disease (COPD). Monmouth modelled the scale and potential commercial return of potential opportunities. This included evaluating the market size and geography, key features demanded by customers, likely development requirements and potential competitors.
We presented our analysis to our client’s Board, helping them to prioritise future investments.
What we did
Monmouth modelled the size of the opportunity over five years, detailing the decision case for both customers and our client, the software developer. The work included desk analysis, competitor and gap analysis and interviews with potential customers in each therapy area.
The work set out what the functionality of each new product would need to be, the potential market and how this might develop over time. This information informed a high level business case setting out the investment decision for each product.
Monmouth provided a detailed breakdown of the patient pathway, reporting requirements, geography and demographics of the market for each condition. Our findings covered key issues including integration, audit/best practice tariffs and competitor/business case. We developed a decision matrix to help make an informed decision re the best way forward.
The result highlighted product priorities with detailed supporting evidence, enabling our client’s Board to make an informed strategic decision.