Study Highlights Evolving Role of Medical Affairs in Medical Device Product Launches
CHAPEL HILL, N.C., Sept. 25, 2017 /PRNewswire/ -- A rapidly changing medical device marketplace coupled with a highly regulated promotional environment has pushed the medical affairs function into a more prominent launch role for the device sector.
The bottom line: Just as in pharma, the successful launch of a new medical device requires deep involvement of medical affairs.
Best Practices, LLC conducted a benchmarking study to uncover critical success factors for strong medical affairs launch support in the medical device sector. An effective medical affairs launch strategy for medical devices focuses on early stage thought leader identification and engagement, clear guidance for commercial strategies and launch resources management, according to the research.
One of the study findings was that for a successful launch, medical affairs groups must build strong communication between key external decision-makers and the internal commercial group. Three steps are important to guide product launch strategy: understand key decision-makers' needs; align commercial training to the demands of key decision-makers; and generate evidence-based and value-added data.
"Medical Affairs should have a good idea about what healthcare professionals think about the product. They can then take these insights and educate their organization. The better the commercial side understands the disease state, the biology of the disease, the treatment options, the outcomes of the disease; the stronger the launch will be," said one vice president of medical affairs who participated in the study.
The study, "Medical Affairs Launch Excellence: Medical Affairs Role at Launch in Medical Device Companies," provides current trends and best practices for medical affairs involvement in new medical device product launch activities. This study will serve as a reference point for medical device companies in developing successful medical affairs launch strategies.
This report will:
- Illustrate Medical Affairs' involvement in the launch process at leading Medical Device companies
- Highlight strategies for effective thought-leader (TL) segmentation and relationship management
- Examine the challenges in managing successful Medical Affairs launch support
- Identify industry drivers regarding new product commercialization
- Explore critical strategies for effectively allocating Medical Affairs launch budget
The study is based on insights from 14 medical affairs leaders at 13 medical device companies. More than 70 percent of participants are at the level of VP /CEO/ Director and about a quarter of the participants are managers.
To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1465.htm.
For related research, visit the Best Practices, LLC Web site at www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.
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