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your commercial
specialist within
MedTech

Welcome to the book MedTech Marketing – A business model for Medical Technologies and Medical Devices

If you are looking for a clear, straightforward, cost-efficient and structured process, this book offers a new MedTech model, that addresses the industry’s challenges by guiding you all the way from idea generation to success in the market, leading to increased revenue, earnings and profit.

HOW TO GET THE BOOK – follow one of below 3 routes: 

The unique feature of this book is the complete presentation of how MedTech products actually come to life, from idea to design, development, testing, documentation and through to marketing and success. Henrik Harboeentrepreneur and medical doctor.

Time to market, sales curves not taking off as expected and staying ahead of the competition are all factors that are becoming more challenging and complex, due to:

  • increased regulatory demands and changing payer structures
  • pressure on healthcare expenditure and reimbursement
  • the need for highly specialised competencies and value-based evidence
  • new IT tools for an optimal marketing mix
  • longer time to market
  • universal and intense competition.

All of the above are costly elements that require strict focus and careful prioritisation, which is incorporated in the model.

Who should read the book?

This book is for everyone who works with or has an interest in MedTech products and services from cradle to grave, regardless of country and the company’s maturity and size.

In addition, bachelor and master’s students with connection to healthcare can gain insights into theory and real-life cases. The book is part of the Copenhagen Business School’s programme “Innovation in Healthcare”.

How to read the book?

This book seeks to give an overview and an explanation of MedTech Marketing, and act as a source of inspiration. You can read the book from beginning to end, or you can focus on the areas of most interest to you. The book is a hybrid book, consisting of five parts:

Part 1 addresses MedTech Marketing in general. It consists of:

  • a description of MedTech Marketing and its components, in the context of trends and challenges in the industry
  • an introduction to the MedTech Marketing model.

Part 2 explains how to do it and gives an in-depth exploration of the seven phases of the MedTech Marketing model. Each phase has its own chapter and concludes with a summary, which also can be read first for a brief overview. The seven phases are as follows:

  • Idea. What is the innovation? Is it market- or technology-driven? What need does it meet and what value does the idea bring to the market? Who are the main competitors?
  • Business. This includes the business model, the business case and market information.
  • User. Who are the users/customers? Who decides what to buy? Who should be involved? Will they buy – and can they buy?
  • Positioning. This relates to the positioning in the market and involves features and benefits, key messaging and the value proposition, as well as competitive positioning.
  • Legislation. This phase includes elements such as intended use, claims, regulation, classification and registration, as well as reimbursement, as part of the regulatory approval for market access.
  • Documentation. What documentation and evidence is needed to support regulatory and market approval in order to optimise success?

Part 3 covers the organisation and implementation of MedTech Marketing.

  • Demonstrate how the MedTech Marketing model can be implemented in the organisation without making comprehensive changes.

Part 4 provides different viewpoints on MedTech Marketing from several highly respected specialists:

  • The business view
  • The customer view
  • The regulatory view
  • The educational view – New skills needed in healthcare

Part 5, titled Best in class, explores how two large corporations, Coloplast & HARTMANN Group, work with MedTech Marketing. The case studies demonstrate how MedTech Marketing matters, differs and creates value.

What will the reader get from this book? 

An overview of the process of a MedTech product, from idea to success in the market, leading to increased revenue, earnings and profit.

A highlight off all the relevant commercial elements, including the regulatory requirements so every speciality e.g. Sales, Marketing, regulatory, Quality Assurance, clinical and R&D etc. know what value they bring to the process and understand the importance of their contribution.

How the MedTech Marketing model can be implemented in the organisation without making comprehensive changes.

The book answers such questions as:

  • What is MedTech Marketing?
  • Why should you work with MedTech Marketing?
  • How do you perform MedTech Marketing?
  • What are the gains of MedTech Marketing?

In addition, it offers:

  • Guidance on how to create a unique position via the MedTech Marketing model, thus reaching the “sweet spot” in the marketplace
  • Knowledge of:
  • regulatory
  • clinical
  • health economic
  • reimbursement processes
  • Concrete tools to create:
    • Overview of the entire process
    • activity plan for each speciality and how they combine together
    • Real-life cases.

The book puts MedTech in place, thus contributing to the creation of a common language that really is something the industry in general lack… Case stories throughout the book put the many topics in the context in a constructive way. Niels Ole Andersen, regulatory expert.