International market selection: Assessing opportunities in the European Union for a mHealth consumer medical device start-up
Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
To date, there are no existing models for evaluating foreign markets, adapted to mobile health (mHealth) consumer medical device (CMD) start-ups seeking to launch their products or services in new countries. This calls for the development of a suitable international market selection (IMS) model that captures the complexity of and opportunities for mHealth. mHealth is a sub-segment of electronic health (eHealth), which furthermore is part of the wider phenomenon of digital health. mHealth covers medical and public health practice supported by mobile devices.
This paper proposes a multidimensional IMS model comprising both macro and micro level factors. Our specialized approach integrates tools and theories by a number of researchers and is showcased in the assessment of the European Union (EU) for the mHealth CMD company AdhereBox. AdhereBox is a Swedish start-up that has developed a CMD consisting of a “smart” pillbox and a complementary mobile software application.
We propose a number of dimensions that should be evaluated when assessing the potential of the different EU health care markets in regards to mHealth CMD start-ups. Our suggested approach includes factors which are categorized into two groups of parameters: (i) stakeholders (which comprises consumers, providers, payers, distributors and collaborators) and (ii) barriers & enablers (consisting of incentives, reimbursement models, technological infrastructure, regulations and existing solutions).
In summary, our study identifies critical factors that mHealth CMD start-ups should consider when evaluating foreign markets in an IMS. By applying our IMS model on AdhereBox, we illustrate how our model can be used, its parameters assessed and the interdependencies between these analyzed in order to arrive at a set of recommendations for further market analysis and conclusions on country attractiveness. As such, we believe that our research could provide valuable insights and guidelines for firms within mHealth seeking to expand their business within the EU, as well as for governmental organizations that want to better leverage and stimulate the potentials of a flourishing domestic mHealth ecosystem.
Place, publisher, year, edition, pages
2016. , 121 p.
Examensarbete INDEK, 2016:18
International market selection, internationalization, mobile health, mHealth, consumer medical device, European Union, adherence
Economics and Business Other Medical Engineering
IdentifiersURN: urn:nbn:se:kth:diva-188829OAI: oai:DiVA.org:kth-188829DiVA: diva2:939530
Master of Science in Engineering - Industrial Engineering and Management