Market sizing

forecast Market sizing
New answer on Jun 14, 2019
2 Answers
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Anonymous A asked on Jun 14, 2019

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!

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Ian
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replied on Jun 14, 2019
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi,

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.

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Anonymous A on Jun 14, 2019

Thanks for your comment Ian. So I did actually try to clarify, and interviewer simply said "it is a device that aids people with problems breathing"and wanted me to go bottom up style. He seemed to question my method of filtering the market, as opposed to my initial assumption, so I'm open to suggestions of how I might size the market in either case i.e. (respiratory device or life support device) Thanks!

Vlad
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replied on Jun 14, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

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.

Best

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Anonymous A on Jun 14, 2019

Thanks for your comment Vlad. So I did actually try to clarify, and interviewer simply said "it is a device that aids people with problems breathing"and wanted me to go bottom up style. He seemed to question my method of filtering the market, as opposed to my initial assumption, so I'm open to suggestions of how I might size the market in this case, and then forecast it. Thanks!

Ian gave the best answer

Ian

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