Abstract
This report provides qualitative information and quantitative benchmarks for
three critical areas that concern all medical technology organizations:
1. Investments, timelines and processes for medical device development
2. Marketing organization structures and benchmarks
3. Management of field-based issues concerns for devices, 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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