Medical Device Market Entry Research and Country Analysis
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 device.
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 4-6 weeks to complete a detailed country analysis. Note that this service is optional and not necessary if you have a solid understanding of the potential for your medical device(s) in a given market and can provide us with a clear medical distributor profile.
Our 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:
- Geographical markets that should be entered first.
- Competing medical devices or IVDs on the market.
- Regulatory compliance requirements.
- Reimbursement assessment (available for Europe and Japan only)
- Ideal medical distributor profile.
- Optimal service and logistics structure (available for Europe only)
This analysis leads to a distribution strategy for your medical devices and a substantial initial list of potential medical distributors that match the distributor profile.
Please contact us for more infomation or a free proposal on our country analysis consulting services for medical device companies.
