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medical device market

Gaining Ground in China’s Medical Device Market

The developments in China’s medical device market is taking place at a breakneck speed. This makes the Chinese medical device sector a highly lucrative market that top medical device companies cannot afford to ignore. The medical device market in the region consists of several tiers, ranging from high-end to mass-market equipment. High-end equipment consists of the latest diagnostic and treatment technologies, which are usually contained only in imported products, while mass-market equipment incorporates older technology used for basic screening and treatment. The ongoing healthcare reform in China is expected to reform and reshape the market in fundamental ways. The medical device industry will largely be dominated by three significant changes over the next couple of years. This includes:

  • Rising importance of the midmarket
  • Growth of local companies
  • Revamping ways in which medical device products are sold

Although these changes will create huge opportunities for medical device companies, they also come with a set of challenges that could affect both MNCs and local players in the medical device market. In order to thrive, international medical device manufacturers must defend their leadership position at the premium end of the market against stronger local rivals while expanding their reach in the fast-growing midmarket. On the other hand, local companies in China’s medical device market must focus on developing the products, skills, and talent required to succeed at the upper end of the midmarket and some premium segments as well.

In this article, our healthcare industry experts reveal some key strategies to survive in China’s medical device market.

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Strategies for MNCs’ in China’s medical device market

Focus more on midmarket

To be in head to head competition with local medical device companies, it is vital for MNCs’ to capture share in the midmarket. To achieve this, companies must start by developing a mid-market portfolio that meets the demands of patients and healthcare providers in China. They can choose to opt for an organic new product development, joint ventures, or acquisitions. Furthermore, building a go-to-market model that is not only sufficient but is also highly efficient can also prove to be helpful. Making changes to the go-to-market model, manufacturing, and sourcing, with a focus to lower costs is paramount for winning in the midmarket.

Stronger skills and strategies in government affairs

Although some top medical device companies have established strong relationships with central and local government agencies in China, it is not so across the board. Stronger skills sets and well-defined strategies in government affairs is paramount to shape regulatory policies on product registration, pricing, and compliance.

The changing landscape in China’s medical device market will create immense opportunities for companies in the sector. Get in touch with our industry experts to gain detailed insights on how we have helped top companies across industries to improve their key capabilities and capitalize on the right opportunities.

Strategies for local companies in China’s medical device market

Make strategic investments

Companies in China’s local medical device market that want to establish their position in the middle and premium ends of the market must upgrade the quality of their existing products and emphasize on developing new and innovative offerings. Local players can also consider partnering with R&D centers or setting up joint ventures with MNCs’ in the medical device industry to gain access to advanced technologies.

Enhance skills and processes

Venturing into the premium products market will require local medical device companies to have a more sophisticated sales and marketing operation than the existing ones in place. The excessive reliance on distributors in many cases must be reduced, instead, direct relationships can be built with key accounts through their own salesforce.

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Trend Watch: What’s New in Medical Device Packaging?

Medical device packaging is certainly not easy. Poor medical device packaging can result in a host of problems for both customers as well as medical device companies. It must be ensured that every package that holds a sterile medical device not only arrives at the hospital or clinic free of wear and tear or broken seals, the packaging must also ensure a longer shelf-life, possibly for years, without breaking down. Furthermore, following the packaging guidelines and strict regulatory standards of the FDA is another hurdle faced by companies in the medical device market.

Learn more about the opportunities, trends, and challenges in the medical device packaging market.

As a result of such increasing complexities, players in the medical device packaging market are looking at the latest innovations and trends that meet their requirements while adhering to the FDA regulations. Our experts in the medical device packaging industry have listed some of the top trends that are shaping the future of medical device packaging.

Medical device packaging trends 2019

Green designs

Involving a medical device packaging partner at the earlier stages of product development allows to create a packaging that is innovative, serves the purpose, and is highly sustainable. Designers of medical device packaging are formulating new ways to reduce the material and energy required. In addition, they are aiming to reduce the number of components required in the overall package. The advent of tools such as design and package integrity simulation allows medical device packaging providers to make a well-informed prediction at the concept stage about how design choices such as downgauging materials or reducing the overall footprint will have an impact on the performance of the package. This gives higher confidence and ensures greater efficiency before moving into the prototyping and manufacturing stages.

Is your business equipped to meet the dynamic market trends and challenges? We have helped several healthcare and pharma companies around the world to stay abreast of the changes in their market and formulate strategies to adapt. Submit an RFP o know how our tailor-made solutions can help your business.

Recycling programs

There is a growing awareness around the recovery and reuse of materials. Several medical device packaging companies and OEMs are working with healthcare providers and recyclers to recover and use existing plastics. Once the most sustainable materials are chosen, the end-users are informed on how to reuse and later recycle the packaging. Furthermore, research and evaluations are being continuously conducted around new medical device packaging innovation that can offer better sustainability benefits.

Efficient and cost-saving transportation

Companies can perfect their transportation strategies via simulation tools in order to lower energy and cost. Several players take advantages of software that helps to optimize planning, maximize load, and minimize costs. This allows manufacturers to prevent obstacles by learning the outcomes and solutions ahead of time. Companies commonly focus on sustainability through bulk freight shipments that reduce packaging, impact on the environment, and transport/inventory expenses. Moreover, medical device manufacturers are working with CMOs (contract manufacturing organizations) that provide end-to-end services. Choosing a medical devices packaging partner that can perform everything from design and development, to prototyping, to tool building to manufacturing under one roof means components don’t need to be transported between various phases of the process.

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The Medical Device Industry is Revamping Itself: Here’s Why!

The medical device industry is embarking on a new phase of change. In this blog, our industry experts discuss some of the key factors influencing transition in this sector.

The expectations of stakeholders in the medical device industry are changing over time. Patients expect superior service and care models, physicians require data from multiple sources to be brought together in one place, and payors seek lighter financial burdens and better real-world outcomes. Such mounting pressure is urging companies in the medical device industry to revamp their offerings and stand out in today’s increasingly crowded market.

The rapid technological growth rate in the medical device industry is undoubtedly the backbone of this sector. But not long ago, the industry was wrestling several challenges and struggling to implement and adopt advanced technologies. Some of the impediments leading up to this included the paucity of talent, incomprehensible technical complexities, constantly changing regulations, and limited leadership mind-share. In fact, just a decade ago, the integration of new and advanced technologies in the medical device industry was far behind when compared to other industries such as Telecom, Retail, and Automotive. The reality still remains that companies in the medical device industry still lag in tapping into customer and business model-led opportunities and adopting advanced technologies such as IoT, big data, artificial intelligence, augmented reality, and robotics. With only a handful of key players in this sector building sizeable businesses by leveraging the available opportunities and the upsurging competition from non-traditional players such as start-ups, players in the medical device industry are in the dire need to revamp their strategies.

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Change in customer expectations

Earlier, the delivery of digital healthcare had limited reach, was of low quality, and highly expensive. However, modern healthcare consumers are tech-savvy and expect the digital intervention to transform their healthcare experience. This shift in consumer behavior has elevated the focus on patient-centric health care and has become a major driver for the adoption of advanced technologies among OEMs. Players in the medical device industry are focusing on personalized healthcare solutions and devices to gain a bigger slice of the market.Get More Info

Shift in business models

The modern day medical device industry is going through a tectonic shift in business models. The increased connectivity between devices, physicians, and consumers are inflating the demand for high quality, personalized, and patient-centric care. Today, the volume-based fee-for-service models in the medical device industry are shifting to new incentive models that focus on value-based metrics. Though traditionally the OEMs have been able to compete with conventional business models without much differentiation, a long-term strategy would necessitate OEMs to create innovative and sustainable business models that will result in efficient healthcare delivery, reduced costs, and improved medical outcomes.

There is a colossal amount of patient and healthcare data being generated each day. This spawns fundamental questions about patient privacy and safety. Albeit the incrementally, regulatory authorities are still evaluating out the implications of new technologies on patient security and care. In reality, apart from becoming heavy on the pockets for healthcare companies, data breaches also give rise to serious concerns regarding patient safety. Therefore, the need to strike a balance between advancements and protecting patient security and safety is, therefore, paramount.


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5 Challenges Faced by Medical Device Companies in 2018

Over the past couple of years, FDA-regulated industries such as the medical devices industry have witnessed a myriad of changes. The advent of value-based reimbursement models and accountable care has resulted in a seismic shift in the way top medical device companies operate. In the wake of this new era, focusing on data and the value of medical devices will notAsk An Analyst be enough to boost ROI. This has forced medical device companies to look for new avenues to boost revenues and profitability.  Today, buyers expect medical device companies to offer solutions that bundle device, data, and analytics for improved decision making. And with the shift towards value-based care, medical device companies must offer solutions that can deliver actionable insights for use in existing electronic medical record systems. Our analysis of the global market landscape shows that the medical device companies are facing challenges in terms of:

  1. Adapting to the shift towards value-based models
  2. Maintaining profit margins with products that elude commoditization

Meeting such challenges can be made simple if medical companies leverage an interoperability platform to devise solutions with excellent data integration and aggregation capabilities. Apart from the challenges mentioned above, here are some of the other challenges faced by top medical device companies.

  • Increasing standards and overheads

Recently, there has been a drastic increase in the number of medical devices that are being manufactured and sent for approvals to the FDA. Studies indicate that the time taken for processing has increased by more than 55% in a span of five years. This poses a major challenge for medical device companies who are looking to outperform their competitors by launching more innovative products in the market.

  • Complexity of new medical devices

To stay on top of the competition, top medical device companies have started manufacturing products that are more complex and integrated when compared to their predecessors. This increase in the complexity results in a rise in the cost of field service and repair processes. Another point to note here is the fact that due to the increasing complexity of devices, the cost of training field service specialists and engineers has doubled.Ask An Analyst

  • Meeting customers’ expectations

Today, people all around the globe have access to the Internet and smartphones. Customers, therefore, have numerous choices and demand more from medical device companies, especially in terms of implementing more aggressive SLAs. The end-users of medical devices are also demanding more from their reduced capital and are now asking for better incentives.

  • Shift towards home-based care

With the growing popularity of home health care services and POC tests, medical device companies have had to migrate towards the production of home-based health kits. This threatens to reduce the spend on capital programs for developing new lab equipment.

  • Reimbursement reductions and rising competition

The implementation of new schemes to reduce reimbursements for medical assays by insurers is reducing manufacturers’ ability to fund capital for their new devices. In addition, high competition from emerging companies, such as start-ups, will reduce the profit margins of top medical device companies and erode customer loyalty.


To know more about the major challenges faced by top medical device companies:

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Biggest Challenges in Medical Devices Packaging: What to Watch Out For

One of the essential milestones that can have an enormous impact on the time it takes the medical devices and other pharma products to get to a market is the packaging stage. There is more to medical devices and pharma packaging than merely creating a flashy package that grabs consumers’ attention. The medical device packaging industry involves many disciplines including material manufactures, device manufacturers, material converters, educational institutions, package testing facilities, and test equipment and medical packaging equipment manufacturers. Reducing hospital-acquired infections requires packaging that maintains its integrity, withstands sterilization, and protects expensive medical products from damage.  It is important for medical devices and pharma packaging companies to realize that the packaging is as important as the product. If the integrity of the package and sterility of the products are violated, they become completely useless.  Here are some eye-opening insights that will help you prepare for challenges in medical devices and pharma packaging:Request Proposal

Package development

Package development, especially for medical and pharma companies, is a highly time-consuming and difficult process. One of the major hurdle in this aspect include ensuring that the packaging is developed within the desired time frame and the budget is allotted. Sometimes due to the compliance requirements, there are chances of overshooting the budget. This can cause severe problems in the overall ROI of medical devices and pharmaceutical companies.

Long lead time for approvals

Making the final decision on packaging includes the opinions and concerns of various stakeholders in the company. Often, there are chances of conflicts and difference in opinion regarding the proposed design of medical devices packaging materials. In this case, it would prove to be a time consuming and lengthy process to get all the parties involved to agree on a particular concept.

Replacement of old equipment

Most of the times, existing equipment that is used for medical devices and pharma packaging are not flexible enough. There are even chances of this equipment being shared for the production of other products. Moreover, they work at a limited speed and have less scope for innovation.  The major challenge here is that companies are reluctant to replace old equipment with new ones due to resistance to change and the high cost involved.

Sterilization challenges

Medical device manufacturers are sensitive to the fact that the package must be durable enough to prevent damage to an expensive medical device and be able to withstand the effects of sterilization, without degradation of the package. End users in a hospital setting also like to see the product through a clear rigid package before opening it. Therefore, the major challenge here is to ensure that the medical devices and pharma packaging live up to the expectations of manufacturers and are capable of protecting the final product from any contamination or damage.


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Surviving in the Medical Devices Market: 4 Tips for a Good Marketing Strategy

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Surviving in the Medical Devices Market: 4 Tips for a Good Marketing Strategy

An excellent and detailed marketing strategy is the key for modern companies to succeed in the highly competitive marketplace today. Every marketing plan is different depending on the product, the company, and the situation existing in the market. Medical device marketing strategy mainly includes functions such as product positioning, portfolio differentiation, competitive assessments, market segmentation, customer awareness, and loyalty-building programs. Although the medical devices market continues to be strong, the demand for these products are expected to soar higher in the years to come; more obstacles seem to be rising on the marketing front. From communicating to hospitals and physicians, or directly to end-consumer patients, it is getting harder than ever to locate the target audience, present a compelling message, and motivate a buying-oriented action. So how can companies in the medical devices market make themselves stand out from competitors and garner market attention without busting the budget? A good marketing strategy might be the answer. Here are four tips for companies in this sector for crafting an ideal marketing strategy:Request Free Proposal

Know your audience

Defining your target market is one of the first steps involved in efficiently marketing anything. Moreover, the complex and sensitive nature of medical devices makes it extremely important to get to know the target audience better. Firstly, decide whether to focus on medical professionals and facilities, or end users. Developers of large medical equipment or commercial equipment normally appeal to physicians and facilities. Even though patients are the end users, buy-in from practitioners is vital. They prescribe or recommend treatments for their patients. For smaller devices, it makes sense to concentrate on reaching out to consumers or adding this market segment to your marketing strategy. 

Build relationships in the industry

Building professional relationships in the healthcare industry is a very subtle marketing strategy that medical devices companies can follow. Personal visits to medical offices and trade shows are common places, where the sales representatives of medical devices often connect with practitioners or facility reps. At these events, sales personnel get the opportunity to discuss the benefits of the equipment and demonstrate how it works to the medical practitioners. Most importantly, building relationships with prominent practitioners help develop peer influencer programs. This can also result in repeat sales in the long run.

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Embrace digital technology

Going digital is the new normal in the healthcare industry and so is the case for companies in the medical devices market. When it comes to building a good marketing strategy a mere face to face sales attempt might prove insufficient or in some cases unsuccessful. So what next? Today savvy marketers are relying on creative direct email pieces to alert professionals about innovations in medical devices and the types of medical issues they resolve. Social selling, including LinkedIn, Twitter and Facebook, are additional platforms to create awareness. Once the interest of the prospects is captured, the next step is to drive the recipient to your website. On-site, companies can present their products through landing pages by discussing the benefits of the devices offered by your company. Videos, including demonstrations and testimonials, also help prove the value of your offering.

Employ content marketing

An efficient content marketing strategy will turn out to be a great plus point in attracting end users. It can be done through writing articles and incorporating images and videos that relate to the problems your targeted consumers experience. Integrate search engine marketing strategies as well, to drive traffic from potential customers. After you drive traffic to the website, present your solutions and the benefits they offer in resolving their pain points or medical problems. Even if you sell commercially, demand from end users sparks demand among facilities and medical practitioners.


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