If you’re sure you have a great product but it’s sales results don’t satisfy you this could be because the problem is not with the product itself but a technology decline.

It’s vitally important to differentiate these two life cycles – product and technology. The last one is more threatening for your business.

The Technology Life Cycle is quite different from the product life cycle as the life cycle of product deals with the performans of the product at the marketplace, whereas the life cycle of the technology focuses on the various stages of the technology in the development of the product and utilization of technology in the business processes.

The Technology Life Cycle is mainly concerned with the time and cost of developing the innovative style of technology that gives a new edge to the business.

The management of the Technology Life Cycle is one of the most crucial and imperative business processes and an important aspect of the technology development. The adoption of technology is one of the most common facets that drive the evolution of industries along with the life cycle of the various industries.

We’ve defined 7 general and 6 healthcare specific criteria to help you detecting the technology is declining so you could manage your product portfolio in advance.