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25BMR




Products & Services

Medical Device Marketing Excellence: Optimizing Group Structure and Operations

ID: PSM-272


Features:

38 Info Graphics

4 Data Graphics

100+ Metrics

12 Narratives

Best Practices


Pages: 71


Published: Pre-2013


Delivery Format: Shipped


 

License Options:
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Single User: Authorizes use by the person who places the order or for whom the order was placed.

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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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Dynamic and competitive marketplaces make it essential for medical device companies to create an effective marketing strategy. However, formulating a comprehensive marketing plan becomes increasingly challenging due to stringent regulations and laws. As a result, medical device marketing groups must optimize their monetary and staffing resources.

Best Practices, LLC conducted this research study to help medical device marketing executives maximize their productivity and identify valuable insights critical to meet regulatory demands.

The study also presents different organizational segments for medical device marketing activities and current trends in resource, structure and staffing levels.

Also, the study also highlights future changes to be expected in medical device marketing.

Marketing executives at medical device companies can use this study to compare their structure and resource levels with that of leading organizations and enhance their current practices.

Industries Profiled:
Medical Device; Science; Health Care; Orthopaedics; Biopharmaceutical; Pharmaceutical; Diagnostic; Medical; Biotech; Research; Technology


Companies Profiled:
Stryker; Edward Lifesciences; Medtronic; CareFusion; Zimmer; Thermo Fisher Scientific; Ethicon; Baxa; Johnson & Johnson; Nasiff Associates; Inc; Baxter International; MCS; Covidien; BioPro; Boston Scientific; IRIS


Study Snapshot

The report is based on a survey of 15 marketing leaders at 15 medical device companies, with a wide variety of portfolios.

Also, three deep-dive executive interviews were conducted from leaders at large medical device companies to collect qualitative insights.

Sample Key Findings

Medical Device Revenue: For the large medical device segment in this study, average revenue exceeds $5B, 55% of which comes from sales in the US. Average revenue for companies in the emerging medical device segment was 67M, with 82% from US sales.

  • Staffing Levels: Companies in the emerging medical device segment devote a much higher percentage of their total company headcount to marketing operations (21% on average) compared to large medical device companies in the study (who devote just 4% of total headcount on their marketing operations).
  • Marketing Leadership: 100% of the emerging medical device companies have Chief Marketing Officers on staff, compared to only 44% of the large medical device company group.
  • Headcount Spend: The large medical device companies, on average, spend 40% of their marketing budget for headcount related expenses (50% for emerging medical device companies). The headcount investment per FTE averages near $250,000 for large medical device companies.
Table of Contents

Research Objective and Methodology
Participating Companies
Highlighted Findings
Respondent Demographics
Survey Findings
Field Insights
About Best Practices