Medical Devices Product Management (PH80)

Benchmarking Development, Marketing and Promotion
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  • Medical Device Product Data Throughout Development and Postmarket Management

    This report provides qualitative information and quantitative benchmarks for three critical areas that concern all medical technology organizations:

    • Investments, timelines and processes for medical device development
    • Marketing organization structures, processes and benchmarks
    • Management of postmarket and field-based issues, including promotion, customer support and reporting

    Background

    This report provides business intelligence to medical device and other medical technology companies.

    The medical device industry has established itself as a powerful stakeholder in the world of healthcare. Most medical device companies are relatively small, and they tend to focus on highly specialized products whose lifetime revenues may reach, at best, the low hundreds of millions of dollars. The worldwide market for medical technology, however, is quite large: yearly sales are estimated at close to $200 billion, and the collective device and diagnostic sector is slated to grow at an annual pace of roughly 10% in the near future.

    Despite this growth and the increasing importance of devices in the healthcare universe, the depth of business intelligence available to device and diagnostic companies is relatively limited. Unlike higher-profile, healthcare-related brethren in the pharmaceutical and biotechnology sectors, medical device companies suffer from a lack of incisive analysis and raw data to support their business decisions.

    By addressing critical topics such as development, marketing and postmarket management, this report addresses the need for business intelligence and sound benchmarking in the device sector.

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  • Companies Included in Medical Device Research

    • Aperon Biosystems
    • Baxter
    • Cardinal Health
    • Cierra
    • CR Bard
    • FEI Products
    • ICU Medical
    • Medtronic
    • Novartis
    • Thought Technology
    • Vivatron
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  • Medical Device Benchmarking Metrics

    Executive Summary

    • Figure E.1: Timeline: Approval, Manufacturing and Initial Marketing Launch
    • Figure E.2: Marketing Investment from Development through Commercial Distribution

     

    Medical Device Development

    Company Structures

    • Figure 1.1: Conceptual View of Product-Support Structures
    • Figure 1.2: Device Staffing: Total Headcount
    • Figure 1.3: Device Staffing: Commercial Group Headcount
    • Figure 1.4: Device Staffing: R&D Headcount
    • Figure 1.5: Device Staffing: Manufacturing Headcount

     

    Concept Development and Exploration

    • Figure 1.6: Timeline: Early Development through Clinical Studies

     

    Product Development and Project Management

    • Figure 1.7: Allocation of Marketing Investment from Development through Commercial Use
    • Figure 1.8: Introducing the Marketing Team

     

    Medical Device Marketing

    Building the Marketing Campaign

    • Figure 2.1: Timeline: Approval, Manufacturing and Initial Marketing Launch
    • Figure 2.2: Marketing Investment from Development through Commercial Distribution
    • Figure 2.3: Average Staffing: Device Approval, Manufacturing and First Year on Market
    • Figure 2.4: Allocation of Marketing Investment from Development through Commercial Use
    • Figure 2.5: DTC Advertising: Prominence and Spending

     

    Optimizing Device Brand Potential

    • Figure 2.6: Budget and Staff Support for Reimbursement Teams

     

    Device Promotion and Post-Market Management

    Sales Organization Structures, Sales Support Budgets and Sales Force Staffing

    • Figure 3.1: Company C's Sales Organization
    • Figure 3.2: Company E's Sales Organization
    • Figure 3.3: Company H's Sales Organization - Large Division
    • Figure 3.4: Company H's Sales Organization - Small Division
    • Figure 3.5: Annual Sales Support Budget (Excluding Salaries)
    • Figure 3.6: Sales Force Staffing Support for Single Device
    • Figure 3.7: Rankings of Promotional Channels by Relative Effectiveness

     

    Field-Based Promotional Tactics

    • Figure 3.8: Two-Pronged Sales Teams

     

    Sales Code of Ethics

    • Figure 3.9: Percentage of Surveyed Devices Requiring Training..............103

     

    Device Training

    • Figure 3.10: Device Training Group Headcount
    • Figure 3.11: Device Training Cost
    • Figure 3.12: Device Training Duration
    • Figure 3.13: Annual Technical Support Budget for One Device Brand/Line

     

    Post Market Technical Support

    • Figure 3.14: Percentage of Annual Sales Dedicated to Postmarket Device Monitoring
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