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Biomedical technology growth: a case study of forecasting in pulsed electromagnetic field therapy

Biomedical technology growth: a case study of forecasting in pulsed electromagnetic field therapy Purpose – The aim of this paper is to explore the benefit of forecasting emerging biomedical therapy technologies as well as the rate of diffusion of resultant biomedical products in the context of management of technology. Design/methodology/approach – The research method is exploratory using a case study approach. Techniques such as bibliometric analysis and the Bass diffusion model are utilized to assess the growth rate and market penetration of pulsed electromagnetic field therapy (PEMF) as a technology. Findings – The penetration and growth rate of user acceptance of the technology in a global context are simulated across a 15‐year period. The technology forecasting model is also used in a case study to simulate the penetration of a product using ten years' medical application data of a patented pulsed electromagnetic field for biomedical therapy application in the global context. Useful correlation between bibliometric data for PEMF and real data for the case study is illustrated. Research limitations/implications – The research is limited to the case of PEMF data presented. Further research may be done on other PEMF technology applications. Practical implications – Aspects of a holistic management model that was developed for high technology companies are invoked in the practical realisation of the professional paradigm shift required when an emerging biomedical therapy technology is in the process of becoming mainstream. Originality/value – It has been shown that technology diffusion traces exist for PEMF therapy technology as is evident from the bibliometric PEMF global data presented. Furthermore it is possible to simulate the PEMF therapy technology diffusion process with a Bass diffusion model incorporating innovation imitation and market size coefficients. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png foresight Emerald Publishing

Biomedical technology growth: a case study of forecasting in pulsed electromagnetic field therapy

foresight , Volume 13 (5): 9 – Aug 30, 2011

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References (22)

Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1463-6689
DOI
10.1108/14636681111170220
Publisher site
See Article on Publisher Site

Abstract

Purpose – The aim of this paper is to explore the benefit of forecasting emerging biomedical therapy technologies as well as the rate of diffusion of resultant biomedical products in the context of management of technology. Design/methodology/approach – The research method is exploratory using a case study approach. Techniques such as bibliometric analysis and the Bass diffusion model are utilized to assess the growth rate and market penetration of pulsed electromagnetic field therapy (PEMF) as a technology. Findings – The penetration and growth rate of user acceptance of the technology in a global context are simulated across a 15‐year period. The technology forecasting model is also used in a case study to simulate the penetration of a product using ten years' medical application data of a patented pulsed electromagnetic field for biomedical therapy application in the global context. Useful correlation between bibliometric data for PEMF and real data for the case study is illustrated. Research limitations/implications – The research is limited to the case of PEMF data presented. Further research may be done on other PEMF technology applications. Practical implications – Aspects of a holistic management model that was developed for high technology companies are invoked in the practical realisation of the professional paradigm shift required when an emerging biomedical therapy technology is in the process of becoming mainstream. Originality/value – It has been shown that technology diffusion traces exist for PEMF therapy technology as is evident from the bibliometric PEMF global data presented. Furthermore it is possible to simulate the PEMF therapy technology diffusion process with a Bass diffusion model incorporating innovation imitation and market size coefficients.

Journal

foresightEmerald Publishing

Published: Aug 30, 2011

Keywords: Pulsed electromagnetic field therapy; Bass diffusion model; Bibliometric analysis; Management of technology; Medical treatment; Forecasting

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