Developing new products in the life science world is a daunting task. Well, to be fair, developing a new product in nearly any sector is a major challenge. This is particularly true with life science tools, considering the significant development time – and financial investment – which tends to be required. Of course, a successful company is going to have to get over this hurdle, one way or another. Without a successful new product development initiative, a company will struggle to remain relevant in the market.
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