As one of the most prevalent health problems in the world, chronic lower back pain offers a huge market opportunity for medical technology companies that can crack it. Yet, this market proves to be among the most difficult to break into, even though an estimated 35 million patients in the U.S. alone seek treatment, and a vast treatment gap remains between the go-to standards of conservative care and surgery.
We have identified three market assumptions companies commonly make that stunt their product trajectory. This article shares insights on those common missteps and provides data-driven best practices for adroitly targeting this opportunity-rich market.
Read about the three inaccurate assumptions:
Patient pathology is clearly identifiable, and physicians will know when to use our product
Our product easily fits into the standard of care mix
The back pain market has a straightforward patient journey and linear provider pathway