Future of Advanced Medical Technologies Facing Companies in the Advanced Medical Technologies Sector:
Changing Face of the Customer: As innovative solutions (therapies and interventions) are developed, the addressable population increases. The ability to care for more customers and the changing decision making structure poses some tactical market access questions for medical OEM’s.
Solution Centric Approaches: Medical solutions today are more than just treating the clinical conditions. The same medical OEM’s are offering solutions that solve a business challenge at the same time as fulfil a clinical need.
Market Disruptors on the Horizon: The entry of new players with innovative business models, keeps incumbent medical OEM’s awake at night. New pricing structure, service solutions, digital approaches and partnership models along with disruptive therapeutic applications is changing the market dynamics around the globe.
Nurturing Long Term Partnerships: Medical OEM’s are increasingly feeling the need to partner with their care provider customers, as the latter struggle with the mandates of accountable care and outcomes / value based re-imbursement models. OEM’s strive to partner over a longer period of time as the days of tactical sales are numbered.
Meet the Team
Frost & Sullivan's expertise in Advanced Medical Technologies research and consulting includes work in the following strategic and operational areas.
Diagnostics & Monitoring Technologies
Our extensive coverage includes: Radiography, DR, Ultrasound; Interventional X-ray, Hybrid OR; CT, MRI, Nuclear Medicine; Imaging Informatics and Managed Services, Refurbished.
High Impact Interventional & Therapeutic Technologies
Our coverage includes: Surgical Technologies, Wound Care, Orthopedics; Cardiac & Vascular therapies; Infection Control, Drug Delivery.
Care & Business Services Transformation
Our coverage includes: Innovative Business Models; Managed Equipment and Risk Sharing Partnership Models; Procurement Changes, Role of Logistics & Supply Chain.
Frost & Sullivan's Growth Consulting services support our clients who require customized and collaborative solutions to help their companies meet revenue targets, capture market share and expand portfolios. Most projects are focused on addressing highly strategic challenges that require creative research techniques and deep market insights to address our clients’ specific needs. Our projects focus on ten primary areas:
Growth Consulting clients are primarily healthcare technology and service providers such as medical device and diagnostic companies, pharmaceutical and biotech manufacturers, and firms in the healthcare information technology and connected health markets. Companies supporting these firms, whether for professional services and logistics or components and software, also regularly turn to us for insight into the multi-billion dollar healthcare vertical. Our broad base of capabilities can be leveraged by any entity seeking to grow in the intersection between healthcare and technology innovation.
Recognizing each project as unique, Frost & Sullivan crafts the optimal approach to addressing our clients’ needs. These tools may include:
Why Partner with Frost & Sullivan?
- Deep subject matter expertise with highly educated consultants focusing entirely on the healthcare technology sector
- More than 45 locations around the world to provide unparalleled global access and insights
- Collaborative teams that formed across industry sectors supporting healthcare technology vertical, e.g. materials, mobility and wireless, power systems, sensors, software, logistics, transportation, food, and others
- Strong reputation and deep network of healthcare technology contacts to support rapid and insightful industry research and networking
- Decades of experience in epidemiological, financial, and competitive forecast modelling, providing quantitative rigor and to all our engagements
- Proven processes and methodologies tested across hundreds of projects with the world’s leading firms
- Creative thought leadership and deep insights into market dynamics to help product development teams and executives create and validate new whitespace opportunities
- Ability to design and facilitate on-site workshops with our clients which use proprietary exercises to evaluate opportunities, develop strategies and reach consensus on next steps
- An established brand known for excellence in the field of healthcare technology innovation that can be leveraged for custom whitepapers, e-broadcasts and other tactical marketing initiatives
- A highly-skilled team of quantitative research professionals capable of designing and executing complex methodologies, including conjoint analysis, MaxDiff, multivariate analysis and others
- Access to a broad network of affiliated service partners and third party data tools to extend our capabilities
|Types of Companies||Examples of Recent Projects|
|Medical Devices (Class I/II/III)||In-Depth Evaluation of Market Dynamics for 25 Medical Device Segments Where Implantable Textiles Are Used for a Materials Company Looking to Expand into Healthcare|
|Diagnostic Imaging and Patient Monitoring||Conjoint Analysis of Radiology Directors and Hospital Executives to Develop Innovative Diagnostic Imaging Service Contract Strategies for a Major OEM|
|Drug Delivery/ Combination Devices||Physician Interviews and Patient Surveys to Assess Opportunity for a Transdermal Delivery System for Iron Deficiency Anemia for a Start Up|
|Biologics||Large-Scale Consumer Perception Survey of Cord Blood Banking Services in Malaysia|
|Healthcare Providers||Assessing Licensing Potential for an Enterprise Learning System of a Leading Tertiary Healthcare Provider|
|Suppliers/ Service Providers to Industry||Interactive Digital Whitepaper with Embedded Video on the Future of the Global Healthcare Products Supply Chain for a Major Logistics Company|
|Consumer Health||Competitive Profiles on 1,200+ Weight Loss and Skin Care Product Available Worldwide to Support R&D Efforts of a Major Competitor|
|Investors||Buy-Side Valuation Analysis and Financial Modeling for Investment Consideration in an Energy-Based Medical Device Start Up|
|Professional Associations||Annual Customer Survey on U.S. Purchasing Patterns for Laboratory Products Commissioned by a Leading Industry Association|
Frost & Sullivan Advanced Medical Technologies team can support your organisation on each of the following areas:
- Developing your internationalisation strategy and entering new growth regional markets
- Mergers and acquisitions support including market and vendor due diligence for financial industry
- Customer analysis: “Voice of customer” assignments focusing on your customers current and future needs
- Benchmarking you against your competitors across functions in innovation, R&D, product development, sales and marketing
- Supporting medical devices companies assess acceptance of new technologies and products and creating business cases including cost benefit analysis
- Developing commercialization strategy and ROI models for medical devices including evaluating their cost value drivers
- Assessing and developing current and future digital transformation strategies
Frost & Sullivan’s Growth Workshops help clients establish a narrow portfolio of key market opportunities from a larger pool of options. These interactive sessions help clients identify the strongest opportunities in the market and brainstorm strategies for pursuing those opportunities. Growth Workshops run the gamut of market analysis, from opportunity identification to strategy development to planning and implementation. Each workshop’s design is based on the full breadth of client objectives and desired outcomes.
Growth Workshop Consultants help clients funnel and prioritize which opportunities fit best with the company's internal capabilities. During these workshops, attendees gain market knowledge and are trained on evaluation tools and techniques to translate market, competitive, technical, regulatory and economic implications into specific growth opportunities.
Frost & Sullivan’s Growth Workshops use a range of tools and exercises to help clients identify and prioritize key market opportunities, such as:
- Opportunity/Fit Matrix
- Decision Support Scorecard
- Strategy Mapping
- Executive Alignment Surveys
"Frost & Sullivan worked with Tissue and Eye Services (a division of NHS Blood and Transplant) to deliver an informed opinion on market potential and dynamics in the tissues market. Their thought leadership on market segmentation, market share and insights into what influenced customers buying behaviour enabled us to reassess our strategy and focus on products that would deliver growth. Their partnership approach worked for us and they were responsive to our challenge and questions in specific areas of interest."
"We have been very satisfied with the consulting project we commissioned with Frost & Sullivan. The analysts were responsive to our needs and accessible during the project. The finished research was quite thorough and, as we later saw, proved to be a highly accurate depiction of the market."
"We have found Frost & Sullivan’s work to be nothing short of excellent. The consulting project results were concise and cohesive, leading us to better understand a market that is usually complex and difficult to research."
"We have relied on Frost & Sullivan’s strategic research studies for reliable insights into several competitive markets. Their ability to identify and analyze industry-specific trends gives their clients not only a clear indication of where markets are going, but why they are going there."
"The team was knowledgeable and not only determined what information would be helpful in the long-term, but delivered it in a short amount of time. The study helped us make good strategic decisions, backed by reliable market-based information."
“It was great to talk to your analysts and grateful for everything you and the team do to support our company on a daily basis.”
Global Market Intelligence Manager, Medical Devices Company
"You are my most trusted source for information on a myriad of topics.”
Fortune 500 Company
"This looks very comprehensive and a huge piece of work. Definitively a vendor we can consider for some of our later stage assets."
Global Strategic Marketing, Oncology, Pharma Company