Hello, I recently had an interview which I don't believe went too well. I was asked to size the market for medical ventilators and describe how I would forecast growth of this given market. I initially made assumptions about no of people possibly with respiratory problems, then no of people diagnosed, and then identified drivers such as advancements in tech that would drive growth year over year. Eager to hear other approaches. Thanks!
I may be misreading, but I think you made a major mistake here: Ventilators are used primarily for life support, not for people with respiratory issues.
I.e. lots of people have asthma (repsiratory problem), but an inhaler is more than sufficient for the vast majority.
Just like in a case, you need to make sure you understand the question. Clarify your assumptions about what a ventilator is and who would need it before jumping into the sizing blindly.
I've no idea what's the medical ventilator is thus it's hard to help you with market sizing.
I assume you didn't ask the clarifying questions to understand more about the product and various use cases.
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