European Medical Device Market Entry Research and Strategy Consulting

Medical markets vary substantially throughout the European Union due to different factors such as language, culture, economic situation and even the environmental mindset of the population. All these factors affect the nature of how business is conducted in each EU country. For instance, the German medical market is more favorable for reusable medical devices than for disposable due to the high environmental awareness. Whereas, in the UK disposable medical devices are preferred due to high awareness of hygiene in the hospitals.

There are also significant differences in how the healthcare system works from financing all the way to service provision. Reimbursement issues fluctuate among EU countries. Despite the fact that an increasing number of countries are adopting DRG based systems, the codes, reimbursement amounts are different. The same goes for the options for add-on payments or additional funds for purchase of medical devices.

Therefore, before entering a new geographic market, especially one unfamiliar to you, it is vital to know the sales potential for your medical device and to create a market entry strategy. Unfortunately, many companies skip this step in their rush to introduce a new medical device in Europe.

A well executed analysis of the market can yield valuable information on competing products already for sale in the region, competitor pricing, market opportunities, sales channel strategy, reimbursement levels and more. When we perform country analyses, we gather high quality information by interviewing local end users, distributors, and industry or product specialists in addition to desktop research.

On average it takes four to six weeks to complete a detailed country analysis. Note that this service is optional and not necessary if you have a good understanding of the potential for your medical device(s) in a given European market and can provide us with a clear medical distributor profile.

Our EU country analyses services are performed for a fixed fee per day that varies depending on the size of the national market or region, and the scope of the total project. The following issues may need to be researched:

• Which markets with the EU should be entered first.
• Competing medical devices or IVDs already for sale in those national markets.
• Regulatory compliance requirements beyond CE Marking, if any.
• Reimbursement assessment 
• Ideal European medical distributor profile.
• Optimal European service and logistics structure 

This analysis results in a distribution strategy for your medical devices and a substantial initial list of potential partners that match the medical distributor profile.

Please contact us for more infomation or a free proposal on our European analysis consulting services for medical device companies.