PRODUCT LIFE CYCLE FOR MEDICAL DEVICES PPT/PDF

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The product life cycle for medical devices typically includes five stages:Development: This stage involves research, design, and prototyping of the medical device.Introduction: The device is launched into the market, often with initial marketing efforts to create awareness.Growth: Sales and market share of the device increase as it gains acceptance and adoption.Maturity: Sales stabilize as the market becomes saturated, and competition increases. Manufacturers may focus on product improvements or cost reductions.Decline: Sales decline due to market saturation, technological advancements, or regulatory changes. Manufacturers may decide to discontinue the device or invest in a new version.