Growing Demand, Thriving Market
$
B
2016
$
B
2020
We're in the midst of a period of unprecedented growth from
$339.5 billion in 2016 to nearly $436 billion by 20201
Demand is Soaring, and the Market is in Flux.
$
B
by 2022
The market for medical implants alone will grow to $116 billion by 20222
%
annually
Orthopedic implants are expected to grow at a rate of 7.2 percent annually from 2015 to 20222
of $ B
The surgical device segment makes up 51 percent of the nearly $340 billion device market1
These market trends present an ever-expanding opportunity to manufacturers who can introduce new, innovative and even life-saving technologies – but also offer a number of marketing challenges.
Current Landscape
Patients and payers pushing for lower costs
Brands have less face time with surgeons
Brand differentiation is harder than ever
Increased consumer awareness of nonsurgical treatments3
Regulatory changes lead to uncertainty
Increased involvement of procurement
So, what’s a device marketer to do?
Click to jump to each category
Get rich insights from your buyers
Surgeon Focus Groups
Focus groups with top surgeons offer an opportunity to gather valuable feedback from your audience. Whether you’re evaluating go-to-market strategies, marketing messages or product features, focus groups should be a core component. We facilitated online focus groups for RTI Surgical with spine surgeons to help crystallize messaging and visuals for a key biologics launch. The feedback allowed us to hit the mark, verbally and visually.
Surgeons (via an online focus group) delivered immediate feedback on messaging, visual concepts for print ads, digital landing pages and product packaging for RTI’s bone graft solution.
By creating new marketing materials, and an entire brand identity based on surgeon feedback, RTI enjoyed an incredibly successful product launch.
By creating new marketing materials, and an entire brand identity based on surgeon feedback, RTI enjoyed an incredibly successful product launch.
Directly engage with your target audiences
Device Trade Shows
Trade shows can be incredibly valuable, but only if you do more than simply “show up.” There are steps you can take to build relationships and get the most bang for your buck.
First, reach out to customers well ahead of the show to invite them to your booth and invite them to any additional meetings or events you’d like them to attend.
First, reach out to customers well ahead of the show to invite them to your booth and invite them to any additional meetings or events you’d like them to attend.
Utilize engaging, educational collateral, and functional booth design to give attendees insight into your products, and something useful to take away from the show – not just tchotchkes!
Finally, it is critical each lead is recorded in detail.
Finally, it is critical each lead is recorded in detail.
Demonstrate your product’s value in real time
Hands-on Cadaver Labs
Labs are designed to provide hands-on experience, but they’re also a way to reinforce your brand with surgeons. By creating an immersive brand experience, surgeons get more than just education — they develop a connection with your brand. Consider branding your invitations, handouts and materials shared after the lab is complete.
Stay top of mind among decision-makers
Surgical Techniques and Sales Materials
To stand out in a market full of complicated and breakthrough devices, sales materials should focus on the key features and differentiators of products.
For SeaSpine, we developed a new brand design for all sales collateral focused on these key elements of the products.
Surgical techniques are most appealing to surgeons when they are well-designed and organized.
Consistent design across sales materials, surgical techniques, website properties and other touch points with surgeons promotes brand recognition.
Developing a wide range of marketing materials that can reach surgeons, media and potential patients is critical as you launch new products.
For SeaSpine, we developed a new brand design for all sales collateral focused on these key elements of the products.
Surgical techniques are most appealing to surgeons when they are well-designed and organized.
Consistent design across sales materials, surgical techniques, website properties and other touch points with surgeons promotes brand recognition.
Developing a wide range of marketing materials that can reach surgeons, media and potential patients is critical as you launch new products.
Torax Medical placed studies demonstrating success in the New England Journal of Medicine – but needed to go above and beyond to promote the findings.
Torax used a combination of materials to promote their product:
Torax used a combination of materials to promote their product:
- Multimedia news release
- B-roll footage of product
- Marketing posters
- Online toolkit
- Print ads
Reach the right audience with the right message
Digital Targeting Strategy
Surgeons tap into educational benefits4 from informal peer interactions, and those are increasingly moving to digital platforms, including social media.
Surgeons and physicians want to engage with companies via social media for education, research and product information.5
Surgeons and physicians want to engage with companies via social media for education, research and product information.5
of physicians
would like access to clinical data through social
would like access to clinical data through social
of physicians
are interested in interacting directly through social
are interested in interacting directly through social
Keeping audiences abreast of unbiased information about your research developments and clinical data can be a great way to build trust and educate surgeons.
Build digital and social media into your marketing plan to combine traditional outreach with expanding social media outlets.
Build digital and social media into your marketing plan to combine traditional outreach with expanding social media outlets.
The most innovative patient therapies and devices won't be successful unless they're understood, appreciated and differentiated in the eyes of the people who make the decisions. That's where Padilla comes in - we'll help you build, grow and protect your company and product reputation in the marketplace with the people most important to your success.
Protect your position with a strong marketing plan. Get in touch today. Contact [email protected] or Margo.O’[email protected] to get started.
Protect your position with a strong marketing plan. Get in touch today. Contact [email protected] or Margo.O’[email protected] to get started.