Client Type: A medical device manufacturer
The Brief: Insulin-dependent diabetics who travel need to maintain their insulin at an optimal temperature. If it is too cold or too warm it will degrade. Our client wanted information about the market for products that keep insulin pens (and similar self-administered injections) at the correct temperature when travelling, especially by air, and who the players were. This study had to be completed within a very short timescale.
Our Approach: The timescale for this project meant that there was insufficient time to carry out a normal market evaluation – using surveys and interviews. This meant we would need to use open sources to research the market. The potential of generative AI meant that a wide range of material could be checked with reports produced in a fraction of the time that would be required for traditional research approaches. AI tools were used to
- give estimates for potential market size,
- identify existing products with their strengths and weaknesses
- highlight any regulatory requirements
- identify existing patents and any IP issues
- summarise trends in diabetes treatment.
For each aspect we requested sources and checked them to ensure the findings were credible.
The Result: AI-assisted research quickly provided an overview of the market, including existing products, known issues and potential gaps. It also produced a structured report of the findings, plus suggestions for follow-up research using more traditional methods.
Key Takeaway: Generative AI can significantly accelerate early-stage market scoping, thereby providing direction and focus before investing in more costly and time-consuming research such as surveys and in-depth interviews.
