TIPS AND TRICKS: Defining Your Competitive Landscape

  • The first step in defining your competitive landscape is to identify and define the technology’s current competition and how they fit into or define current standard of care (SoC).
  • An important step in the process is to forecast how is the SoC landscape may shift during your technology/product development.
  • Identify other technologies/products in development that may emerge as strong competitors in the future, and may alter SoC and the way your technology/product would fit in.
  • The key to competitive analysis is differentiation: how is your proposed technology/product better than current and other future options, and for what segment(s) of the patient population?