Biomedical technology: A case study of forecasting in pulsed electro magnetic field therapy

Forecasting emerging biomedical therapy technologies as well the rate of diffusion of resultant biomedical products can be beneficial in the context of management of technology. Techniques such as bibliometric analysis and the Bass diffusion model are utilized in this paper to assess the growth rate and market penetration of pulsed electromagnetic field therapy as a technology. The penetration and growth rate of user acceptance of the technology in a global context are simulated across a fifteen 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. 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 main stream.