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The Ultimate Guide

in Setting Up Market
Research System in

Health-Tech
Pitchworks VC Studio’s
Gokul Rangarajan 

Sudharsan Srinivasan
Building Great Health-Tech
Startup from 0 to 1 is hard
HARD
HARD
HARD
AS YOU KNOW...
Market Research Is the
Most
That E
Important Driver

nsures 

Product-Market Fit
and it’s very evident that
Ran Poliakine

Founder of Nanox
Nanox conducted extensive market research to identify global disparities
in medical imaging access and costs. They analysed healthcare market
trends and needs, focusing on scalable and affordable solutions. Insights
from their market research guided the development of the Nanox.ARC
the digital X-ray system, aimed at democratising access to diagnostic
imaging worldwide.
Result of which Nanox secured a partnership with SK Telecom and
raised $110 million in their IPO in 2020. Their success is grounded in
targeted market research, which identified unmet needs and shaped
their disruptive technology, positioning Nanox as a promising player in
the medical imaging market.
Abhinav Shashank

Innovaccer
Before launching their platform, Innovaccer conducted extensive market
research to understand the challenges faced by healthcare
organisations and the potential for innovation in healthcare IT.
Conducted pilot programs with several healthcare organisations to
validate the platform's effectiveness in improving care outcomes and
operational efficiency. Gathered feedback to refine features and user
interface.
Innovaccer's platform integrates data from disparate sources, providing
a unified view of patient information and operational insights, which has
proven critical in improving care coordination and outcomes

Raised significant funding rounds totalling over $225 million, indicating
investor confidence in their technology and market potential.
“For health tech startups, market research is not optional. It’s
the foundation upon which viable, effective, and user-friendly
products are built”
John Nosta 

President of Nostalab  

Advisory Board / Google Health .
Rasu Shrestha,

Chief Innovation and Commercialization Officer
Atrium Health
“Market research in health tech is crucial because it uncovers
the true pain points and needs of patients and providers.
Without it, startups are just shooting in the dark”
Gridges the gap between Founder / Product Owners
and customers, ensuring products meet real needs and
build strong connections.
Market Intelligence Goal
THE ULTIMATE Health-tech
Market Intelligence Playbook
1
1
1
Foundations
Define Research Objective
3
2
Pitchworks VC Studio’s
Market Research
Foundations
Define Research Objective 

Industry | Market Overview & Size

Analyse
Competitive Analysis 

Market Segmentation

Understand your Various Buyer persona 

Understand your User 

Pricing & Positioning 

List of Accounts and Persona to initial pilots
Define Research Objective
Write Down Problem & Scope 

List the Research Questions

Choose Methodology

Choose the Data source
Define Research Objective
Timeline for the Research Project ?
Define Research Objective
Resources I can invest for the research project ?
Define Research Objective
Tool stack for research data collection and organising
Define Research Objective
What Type of research do you want to do ?
Define Research Objective
One primary goal of this research ?
Define Research Objective
What are the research methodologies you are gonna adapt ?
Define Research Objective
What is the geographic scope of this research ?
Define Research Objective
Is there any socioeconomic group you want to understand?
Is there any specific age group you want to research on ?

Define Research Objective
Define Research Objective
Which sector of Health-Tech do you want to research on ?
Example Scope
We have timeline and and access to , and
calls with for a research in
Research demographics : n the age group of
and in C and from to
The research is based need to know various ,
One of the primary goal of the research is
We are gonna use the following Tool stack: Google Sheet, forms, Chat Gpt-3, Similar web, legal zoo, User Testing,
Statista, Gartner, g2crowd, Capterra

for
6 months 1 leader Marketer, 2 Market research analysts top research report
subject matter expert Mental-Health.


US, India i teenager , adults to middle aged adult group (13- 55 years)

orporate Employee upper working class upper upper class group.


Mental Health Solution segment buyer capacity, 

finding new opportunities, find risk in go to market, pricing 


Market reports User Interviews, buyer Survey, Focus Group
Example Scope
We have timeline and and access to , and 5 call with
for a research in
Research demographics : n the age group of
and in C and from to
The research is based need to know various ,
One of the primary goal of the research is
We are gonna use the following Tool stack: Google Sheet, forms, Chat Gpt-3, Similar web, legal zoo, User Testing,
Statista, Gartner, g2crowd, Capterra

for
We are also going to heavily rely on to make
3 months 1 leader Market top research report subject matter
expert for health tech IT.


US, India i adults to middle aged adult group (23- 55 years)

orporate Employee upper Middle class upper upper class group.


Professional Service Automation tool segment buyer capacity, 

finding new opportunities, find risk in go to market, pricing. 


Market reports User Interviews, buyer Survey, Focus Group


competitor analysis critical decision.
Define Research Objective
Re-estimate the timeline and Budget
________________ Timeline in months.


________________ in Resource cost.


________________ in Tool stack Budget.


________________ in user Incentivisation budget.


________________ in Subject Matter expert budget.


________________ in Reports cost


________________ in Total budget
Download the Questions
Download the Questions
Print the questions 

https://www.slideshare.net/slideshow/health-tech-
market-intelligence-prelim-questions/269721784
Use the google forms  

https://docs.google.com/forms/d/1Kffx-
u_rdH_uvt8oLXXiQeRXuewCfTHrTNBw7
kmN9uM/edit
Fill the Form and Get our Support
https://docs.google.com/forms/d/e/1FAIpQLScJCyIedTo3uAHPBrIcMCL6AG9IAa-n8K6vD1rtl9HJSpSJOw/viewform
The Ultimate 

Health-Tech Market 

Intelligence Playbook
Pitchworks VC Studio’s
Gokul Rangarajan 

Sudharsan Srinivasan
Coming Soon ....
Thank You
VC Studio | Corporate Innovation

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The Ultimate Guide in Setting Up Market Research System in Health-Tech

  • 1. The Ultimate Guide in Setting Up Market Research System in Health-Tech Pitchworks VC Studio’s Gokul Rangarajan Sudharsan Srinivasan
  • 2. Building Great Health-Tech Startup from 0 to 1 is hard HARD HARD HARD AS YOU KNOW...
  • 3. Market Research Is the Most That E Important Driver nsures Product-Market Fit and it’s very evident that
  • 4. Ran Poliakine
 Founder of Nanox Nanox conducted extensive market research to identify global disparities in medical imaging access and costs. They analysed healthcare market trends and needs, focusing on scalable and affordable solutions. Insights from their market research guided the development of the Nanox.ARC the digital X-ray system, aimed at democratising access to diagnostic imaging worldwide. Result of which Nanox secured a partnership with SK Telecom and raised $110 million in their IPO in 2020. Their success is grounded in targeted market research, which identified unmet needs and shaped their disruptive technology, positioning Nanox as a promising player in the medical imaging market.
  • 5. Abhinav Shashank
 Innovaccer Before launching their platform, Innovaccer conducted extensive market research to understand the challenges faced by healthcare organisations and the potential for innovation in healthcare IT. Conducted pilot programs with several healthcare organisations to validate the platform's effectiveness in improving care outcomes and operational efficiency. Gathered feedback to refine features and user interface. Innovaccer's platform integrates data from disparate sources, providing a unified view of patient information and operational insights, which has proven critical in improving care coordination and outcomes Raised significant funding rounds totalling over $225 million, indicating investor confidence in their technology and market potential.
  • 6. “For health tech startups, market research is not optional. It’s the foundation upon which viable, effective, and user-friendly products are built” John Nosta President of Nostalab Advisory Board / Google Health .
  • 7. Rasu Shrestha, Chief Innovation and Commercialization Officer Atrium Health “Market research in health tech is crucial because it uncovers the true pain points and needs of patients and providers. Without it, startups are just shooting in the dark”
  • 8. Gridges the gap between Founder / Product Owners and customers, ensuring products meet real needs and build strong connections. Market Intelligence Goal
  • 9. THE ULTIMATE Health-tech Market Intelligence Playbook 1 1 1 Foundations Define Research Objective 3 2 Pitchworks VC Studio’s
  • 10. Market Research Foundations Define Research Objective Industry | Market Overview & Size
 Analyse Competitive Analysis 
 Market Segmentation
 Understand your Various Buyer persona 
 Understand your User 
 Pricing & Positioning 
 List of Accounts and Persona to initial pilots
  • 11. Define Research Objective Write Down Problem & Scope List the Research Questions Choose Methodology Choose the Data source
  • 12. Define Research Objective Timeline for the Research Project ?
  • 13. Define Research Objective Resources I can invest for the research project ?
  • 14. Define Research Objective Tool stack for research data collection and organising
  • 15. Define Research Objective What Type of research do you want to do ?
  • 16. Define Research Objective One primary goal of this research ?
  • 17. Define Research Objective What are the research methodologies you are gonna adapt ?
  • 18. Define Research Objective What is the geographic scope of this research ?
  • 19. Define Research Objective Is there any socioeconomic group you want to understand?
  • 20. Is there any specific age group you want to research on ?
 Define Research Objective
  • 21. Define Research Objective Which sector of Health-Tech do you want to research on ?
  • 22. Example Scope We have timeline and and access to , and calls with for a research in Research demographics : n the age group of and in C and from to The research is based need to know various , One of the primary goal of the research is We are gonna use the following Tool stack: Google Sheet, forms, Chat Gpt-3, Similar web, legal zoo, User Testing, Statista, Gartner, g2crowd, Capterra
 for 6 months 1 leader Marketer, 2 Market research analysts top research report subject matter expert Mental-Health.

 US, India i teenager , adults to middle aged adult group (13- 55 years) orporate Employee upper working class upper upper class group.

 Mental Health Solution segment buyer capacity, 
 finding new opportunities, find risk in go to market, pricing 

 Market reports User Interviews, buyer Survey, Focus Group
  • 23. Example Scope We have timeline and and access to , and 5 call with for a research in Research demographics : n the age group of and in C and from to The research is based need to know various , One of the primary goal of the research is We are gonna use the following Tool stack: Google Sheet, forms, Chat Gpt-3, Similar web, legal zoo, User Testing, Statista, Gartner, g2crowd, Capterra
 for We are also going to heavily rely on to make 3 months 1 leader Market top research report subject matter expert for health tech IT.

 US, India i adults to middle aged adult group (23- 55 years) orporate Employee upper Middle class upper upper class group.

 Professional Service Automation tool segment buyer capacity, 
 finding new opportunities, find risk in go to market, pricing. 

 Market reports User Interviews, buyer Survey, Focus Group

 competitor analysis critical decision.
  • 24. Define Research Objective Re-estimate the timeline and Budget ________________ Timeline in months.
 ________________ in Resource cost. ________________ in Tool stack Budget. ________________ in user Incentivisation budget. ________________ in Subject Matter expert budget. ________________ in Reports cost ________________ in Total budget
  • 25. Download the Questions Download the Questions Print the questions https://www.slideshare.net/slideshow/health-tech- market-intelligence-prelim-questions/269721784 Use the google forms https://docs.google.com/forms/d/1Kffx- u_rdH_uvt8oLXXiQeRXuewCfTHrTNBw7 kmN9uM/edit
  • 26. Fill the Form and Get our Support https://docs.google.com/forms/d/e/1FAIpQLScJCyIedTo3uAHPBrIcMCL6AG9IAa-n8K6vD1rtl9HJSpSJOw/viewform
  • 27. The Ultimate Health-Tech Market Intelligence Playbook Pitchworks VC Studio’s Gokul Rangarajan Sudharsan Srinivasan Coming Soon ....
  • 28. Thank You VC Studio | Corporate Innovation