5 min
Rand in 2 - 5 data tools to help measure UK health product Total Addressable Market (TAM) Rand's Health Tech Future
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- Technology
Estimating your total addressable market is a key activity when creating your product strategy.
This often involves conducting some desk research, reading various reports, talking to specialists/users, and filtering whole populations down to a sub-set of potential target users/potential clients of your product.
It also requires you to have an understanding of who your users are, their problems that you are trying to solve, and the current economic model they operate within to identify potential return on investment (ROI) and tactical market entry points for your Go to Market strategy.
Having delivered, and been involved with, health products in the UK, there are plenty of "go to" data sources that I've used to help me estimate my total addressable market when defining or validating product strategies - otherwise known as a TAM.
I've decided to share some of my common data sources to help others who want to design and build products in the UK healthcare space get started.
Estimating your total addressable market is a key activity when creating your product strategy.
This often involves conducting some desk research, reading various reports, talking to specialists/users, and filtering whole populations down to a sub-set of potential target users/potential clients of your product.
It also requires you to have an understanding of who your users are, their problems that you are trying to solve, and the current economic model they operate within to identify potential return on investment (ROI) and tactical market entry points for your Go to Market strategy.
Having delivered, and been involved with, health products in the UK, there are plenty of "go to" data sources that I've used to help me estimate my total addressable market when defining or validating product strategies - otherwise known as a TAM.
I've decided to share some of my common data sources to help others who want to design and build products in the UK healthcare space get started.
5 min