Report on marketing and promotion of medical devices
4 August 2006
Research Triangle Park, N.C., USA. Medical device manufacturers face a
growing demand from patients, doctors and shareholders for faster product
development, ever-higher quality guarantees and more competitive marketing
Yet the medical device industry has long relied on its steady, reliable
persona to contrast with the rough-and-tumble world of its sister drug
industry. How should companies respond now that the same competitive
pressures are erupting around medical devices?
A new report from Cutting Edge Information seeks to answer that question.
"Medical Device Product Management: Benchmarking Development, Marketing and
Promotion" compiles information gathered over the last six months about how
top companies are meeting the challenge of maximizing the sales bang they
get for each marketing buck.
"The medical device market has matured over the last decade so companies
now face many of the same high-competition forces that other global
industries face," said Adam Bianchi, partner at Cutting Edge Information.
"As the business interests of medical devices, pharmaceuticals,
biotechnology, hospitals, and third-party payers continue to blur, we will
see more pressure to rapidly innovate, educate the marketplace and increase
profitability on each product."