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Products & Services Marketing Management Marketing Strategy

Growing Your Medical Device Business in Asia-Pacific & Latin America: Priority Markets, Structure & Staffing

ID: 5502


Features:

7 Info Graphics

16 Data Graphics

140+ Metrics

7 Narratives


Pages/Slides: 28


Published: 2018


Delivery Format: Online PDF Document


 

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Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from “Growing Your Medical Device Business in Asia-Pacific & Latin America: Priority Markets, Structure & Staffing”

STUDY OVERVIEW


As medical device companies seek growth opportunities in emerging markets, it is important for organizations to prioritize key markets and adapt their business model to serve these markets. To achieve excellence in emerging markets, it is necessary to optimize commercial structure and headcount investment.

Best Practices, LLC undertook benchmarking research to aid medical device marketing and commercial functions in making headcount and operational decisions in high-potential markets in
Asia-Pacific and Latin America. In particular, this study delivers benchmarks around the opportunity size, target growth rates, highest-priority markets, regional revenue, commercial structure, reporting, staffing growth areas and measuring success.


KEY TOPICS



1. Emerging Markets: Opportunity Size
  • Target growth rates
  • Key markets served
  • Regional revenue
  • Highest-priority markets
  • Measuring success

2. Operational Insights
  • Structure
  • Reporting
  • Measuring success
  • Implementing personnel (corporate, region, country levels)
  • Staffing growth areas

KEY METRICS

  • What is your organization’s year-over-year revenue growth target for emerging markets in the next fiscal year?
  • Approximately what percentage of total global revenue currently comes from each region?
  • How is your business structured to support commercial operations in regions outside of the traditional developed medical device markets of the U.S., Europe and Japan?
  • How will your investment into corporate HQ headcount change over the next three years to better support emerging markets?
  • How effective are the listed metrics for measuring commercial success in a high-potential market?

SAMPLE KEY FINDINGS

  • In past 3 years, total emerging market commercial staffing has seen positive growth at every level (corporate, region and country): Across the industry, emerging market staffing levels have consistently risen over the last three years with more than 50% of companies reporting “some growth” (between 1-20% staffing growth), and 25% even reporting “high growth” (>20% staffing growth) in that period.

METHODOLOGY


Best Practices, LLC engaged 23 commercial, marketing and sales leaders from 20 leading medical device companies in this research. While 19 leaders participated in the benchmarking survey, five of them also participated in deep-dive interviews. Four other leaders contributed their insights solely through deep-dive interviews.


Industries Profiled:
Medical Device; Distribution; Pharmaceutical; Health Care; Technology; Diagnostic


Companies Profiled:
B.Braun; Boston Scientific; Cochlear; Fine Science Tools; Getinge; Hospira; Innovo Medical; Johnson & Johnson; Medtronic; MMJ Labs; Nonin; Ortho-Clinical Diagnostics; Philips Healthcare; Polymed; Precision Tool Technologies; Procursum Medical; Promaxo; Rossmax; Stable Orthopaedics; Terumo BCT

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.