I do agree that sutures do not seem to have decline in the different phases of the product life cycle but potentially in the future it might. Currently sutures are used in hospital settings as well as clinics to fix wounds. There have been different types of sutures that are created and there will always be improvements to sutures but eventually, there will be a product that could help to close wounds without sutures such as stem cell sprays which won’t require a suture. If this ever gets to the market and gets approved, there could be a decline in sutures. Some products do get stuck in one of the phases of the product life cycle but there are always new products being created which can cause other products to go through the decline phase. Other products similar to sutures that have a long growth and maturity phase are prosthetics. They’re always improving and getting better to help improve patient’s daily lives. Before, it was metal prosthetics and now different materials are being used such as ceramic or PMMA. Maybe in the future they will also go through a decline, but currently they are also as important as sutures.
I think understanding the product life cycle is very important for every project owner or company because it knows you at what stage it is right now, which helps you make the right decision and act in an optimal way to face every stage of its life cycle But I disagree with the opinion that some products don’t seem to enter decline phase I believe that the product will be declined but the concept and the need of it will not if you keep adding features ,technology and creativity to the product idea
You can postpone the life cycle of the product or service that you provide from reaching the decline or saturation stage, by adjusting it continuously
Let's take an example of the calculator and how it will never be rejected if you see the progress that has occurred for the device during the past years and how they continued to add new features and now you can use it in your smart device
so maybe there will be no benefit to it as a device but as a project or idea it will be used
It's less of a specific product, but programming languages for large systems. If we take a device like an automated insulin pump, which has been on the market for more than 6 years now. If the code was written in a language like c++, it means it would take a lot of monetary input to change the language of the device. IT would require a complete redesign, which would require getting a whole new set of developers and learning new system architecture. So 10 years from now when a company wants to release the next generation of the device, are they going to spend the money to go to a completely new language, or are they just going to build off the base the developed and stick with the same language. The question you posed will always come back to the same argument made for any business, how will it increase profits. Sutures have remained the same because there already exists similar technologies on the market, so clinical trials are not needed. Unless the cost of introducing a new device is somehow lowered, companies have no incentive to create new devices when they can just tweak existing ones.
In the week 3 lecture we are introduced to the concept of Product Life Cycle and the different phases that constitute this cycle: Development, Introduction, Growth, Maturity, Decline. It seems a natural progression of any product within any market, however when I was thinking about it I believe that there are certain products that are so ingrained in a certain niche that they do not see a heavy decline phase or phase out. For example in the healthcare industry sutures do not seem to have a decline. While there are variations to this product and improvements the overall product seems to be just as relevant if not more so since it's introduction, are there any counter arguments to this rationale? Also can anyone think of other products that are in a similar category where it seems that they do not have a decline?
I think sutures may one day be replaced with some kind glue that dissolves at a time frame that corresponds to the time it takes for the tissue to heal up and close. There may yet be a decline in sutures.
Still I agree with your assessment that there are some products that probably wont see a decline. They may satisfy a need that persists. For instance a cup. crutches. When a leg is broken there is always a need to put less strain on it while it is broken. Like suture its a simple product which fulfills such a fundamental need.
As it has mentioned above, the product life cycle is different from one product to other, not in the life cycle phases but in the life time duration. All agree the product life cycle phases are development, introduction, growth, maturity, decline are the same for all product. Some product become obsolete faster because the product functions are no more longer used or a novel product break out to the market that has the same functions. Therefore, the ingrained products just need time until one of these two reasons appear to reach the decline phase.
I would agree that most products will follow this life cycle to maturity and then decline in demand. In reference to prior posts that mentioned essential products such as corn and sugar, I believe they too follow this path, but in different regards. An example of this is that sugar packaged and sold by a specific company could be popular today, but in the future this position could be replaced by a different company. In addition to essentials such as corn, the product life cycle can also play out regarding the variation in seeds that are used to grow corn. On the contrary, I believe there are exceptions and that not all products will follow the product life cycle as outlined in the lecture. The reason for this is that some products could fall short after development and introduction and never make it to the market at all. For example, there are many concept products that companies develop and even reveal, but never gain the consumer traction needed to bring to market under current conditions.
With the technology getting better and better everyday, of course some products will decline by time and won't have a need anymore, however, that does not mean that low volumes devices cannot be used anymore or are not needed. One thing that I learned through my experience is that every product has its target patients or users and no matter what kind of products some people would prefer it over a new product that is clinically recommended or has far advanced safety features. For examples, if you try to convince someone at the age of 65 to switch from an insulin syringe to a safety pen needle to avoid needle sticks it would be really hard to do so because they are just used to it and will refuse to adapt to any new technology; same thing applies to other products in the market right now and that is why we have so many products with the same major intended use. Those products will follow the same process and go through all steps to ensure their safety and effectiveness no matter how they are fading away from the market, of course each class of medical device has its own requirements but at least V&V activities should be done internally and pass all requirements. The FDA will keep approving and clearing those products no matter what since they serve a small amount of patients unless the company decides to discontinue those products.
For the products that seem to not have a decline, I think that this is because each product has its own length for each of the different phases. For example, a product that seems to have no Decline phase might still be in the Maturity phase which is longer than other products’ Maturity phases. This is because these products take longer to become obsolete or the need for them to diminish. Also, it could be the continual development of a product which keeps it competitive.
In the week 3 lecture we are introduced to the concept of Product Life Cycle and the different phases that constitute this cycle: Development, Introduction, Growth, Maturity, Decline. It seems a natural progression of any product within any market, however when I was thinking about it I believe that there are certain products that are so ingrained in a certain niche that they do not see a heavy decline phase or phase out. For example in the healthcare industry sutures do not seem to have a decline. While there are variations to this product and improvements the overall product seems to be just as relevant if not more so since it's introduction, are there any counter arguments to this rationale? Also can anyone think of other products that are in a similar category where it seems that they do not have a decline?
It is an important and challenging question you have raised. I have to agree that there is some product that we use in our everyday life that its maturation will last and might not decline and we expected in the product life cycle, yet it will come to a point that its sales will decrease, but not totally disappear from the market. As Robert mentioned in his post, forks and spoons will never disappear from the market, but they will face a decline in sales, for example, due to the presence of the spork or the chopsticks. Similarly, in the sutures, we might see surgical glue, stables, and many other forms of medical products to repair cuts. My point is, that every product in the market will come to a point where it has a competitive product that affects its sales rate and make it decline.
I have to think that you have misunderstood the product life cycle. From my understanding the product life cycle is for a singular product not a type of product. Sutures are a great example for medical devices as they are an ancient biomedical device used since ancient times but have changed over time. Modern changes may not have been because of necessary changes due to changes in medical knowledge but instead to maintain control of a patent. But in the end the product life cycle for an individual type of suture does follow something similar to the one shown in the week 3 presentation.
There is of course a life cycle for types of products as they are no longer needed. For example, sutures eventually may not be used in favor of other medical products that can close wounds.
The product life cycle has been described for a reason and that is all products experience this growth and decline pattern over the course of its time. Yes, some experience this more rapidly than others, but I believe it is due to what competitors are on the market (or lack thereof) and the customer need. As some previously have stated, technology advancement can also cause products to become obsolete. It is nice to see a product have a long growth phase, as it indicates a high demand. Similarly, a drawn-out decline shows that customers are beginning to transition to the new product while still holding onto one of good quality.
Usually, the product life cycle (PLC) refers to the multiple steps or processes that a particular good or product goes through in the market as it enters, becomes recognized, and exits the market. In general, the product life cycle (PLC) is one of the valuable tools for the organization’s managers to assist them to analyze and create various strategies for their goods or products as they go in and out of each stage. There are four different stages in the product life cycle such as introduction, growth, maturity, and decline and each stage have its own definition and importance. I strongly believe that each product that enters into the market eventually falls into the decline stage when a new product similar to the existing comes into the marketplace but there are some products or goods that will not fall into the decline stage and one such example is the saline bottles that are used in the hospitals, though there are certain modifications in the product as the time travel the product will not fall in the decline phase. It can be used for small, injured situations to the most complex operations. There might be other products that cannot fall into the decline stage such as certain food items, sanitary products, household lights, etc.
I agree with others on this thread, a product will go through all stages of the development cycle, but that cycle might look different depending on the product. Some other products like sutures include catheters, stents, and even something basic like contact lenses. The reason it looks like sutures haven’t declined is because they’re necessary for everyday use in the medical field. However, since their first introduction, they have been modified quite a bit. Generally speaking, ancient sutures included wool threads, plant fibers, etc., which are drastically different from the sutures we use today. Even the recent medical field development has gone from using metal sutures to biodegradable ones. A lot of basic products like this seem to have an endless demand, but they still go through their improvements and variations as others have stated. Another example I can think of are contact lenses. There’s always going to be a huge demand for them because people need to see, and not everyone may be able to afford Lasik or be eligible for it. And they’ve evolved a lot to fit different peoples' needs. There’s daily lenses, biweekly lenses, hard/soft lenses, rigid gas permeable ones, etc.
Hello,
This is an interesting topic. As you mentioned, it seems that some devices on the market are always in need. Industries like food, pharmaceuticals, healthcare, and general technologies will never be in decline. Certain products, however, will not always be in need. While it may seem that sutures will always be needed, there are alternatives to sutures being developed, such as biodegradable sutures or needle-less options like adhesive solutions, as others have mentioned. As such, it seems that all products will eventually go into decline, but only after a viable alternative is found. This may take years on end to happen as innovation in these technologies depends on several factors. The pharmaceutical industry constantly attempts to test new drugs for release, though these trials last decades, and as such innovation seems slower. Other than industries, specific companies and brands may also never decline. I believe brands themselves can be a product. The major conglomerates that fuel modern day media and consumption have been around for decades, changing their markets to appeal to different generations of people over the years. Notable examples include Coca-Cola, Budweiser, or even American Express.
Product life cycles depend on various factors. I generally agree that most products phase out once they get past the growth phase. However, the perception on these product life cycles can either be viewed in terms of versions or the general product. For example, cars are generally released on a yearly cycle. If we consider the Ford F-150, the product life cycle does not end. It simply goes through phases of growth and decline depending on the market circumstances. However, if we look at per model sales of that product, we see that certain versions of the F-150 out perform and under perform relative to each other. If we focus on each version, we will see a product life cycle typical of the chart we learned through the lectures. This applies to medical devices. Some devices are some minor iterations of each other, so much so that you can view them as one product with the summation of all iterating versions as one product life cycle. I believe that is generally the case for saturated markets, such as stents where although there is innovation, each new product is not substantially different from the last release.
