MEDICAL DEVICES ENTRY AND GROWTH STRATEGY
Ontogenix is specialized in market entry for medical device companies. We have developed a process that help in overcoming local entry barriers while understanding the buying process and payor dynamics.
Our market entry plan has essentially three different dimensions. End result is a data driven practical plan that goes beyond a set of slides. We assist you to implement the plan in the target country staying with you till revenue generation. A typical engagement would thus cover one or all of the stages described below.
A. Identifying target segment
With years of experience, our staff has the capabilities and expertise to take your business to the next level. At Ontogenix, we combine our insights and skills to transform your processes and strategies, and in turn, your company. We’re proud to help shape and improve how our clients structure and manage their business.
B. Drive market adoption
Customers often don’t like to change their workflow - especially in a public setting – even if a new technology brings them better outcomes. We have experience in creating an adoption strategy for a specific clinical segment in a target market working with KOL’s and turning them into key influencers for revenue growth.
C. Activate product distribution
Every market has a unique buying process with preferred suppliers. There could be multiple layers from importer to ultimate customer account. We map these processes carefully and identify channels that provide optimized products’ and services delivery to the customers. We also optionally manage these channels in a build operate transfer model.
Our list of services
Discover our expertise
The sections you see below, contribute to the three step strategy above. Every market entry need is unique because of the company's product, timeline and strategy. We ensure the deliverable s are aligned well with your strategies.
1. Introductory consultation
2. Market research
1. Initial engagement
We hold several sessions with your teams to understand the key problem statement and ensure complete alignment with the ultimate deliverable. This ensures a quality outcome that you can implement.
2. Market research
Our research capability is fine tuned for market entry for medical devices - where scripted interviews often dont work well. We conduct personalized interviews with stake holders ourselves that bring out nuggets of information critical to success.
3. Regulatory strategy
Drafting a regulatory strategy is beyond obtaining just a regulatory approval. We help you look at the broad picture based on your market prioritization map and also available resources at your disposal.
The primary goal of all business is to drive revenue. In a new market, it is not always easy to identify the optimum segment and the money chain. We critically examine the landscape for paying capacity for you technology and make approoriate recommendations.
4. Reimbursement landscape
5. Distribution landscape
Every market is unique and so also the products' positioning. Distributors play an important role in the last mile delivery of not only your products but also your brand. A proper diligence is needed for long term success in the market place.
6. Post market surveillance
The job is not over once revenue starts pouring in. There are several legal and moral obligations that need proper handling and surveillance on a continuous basis. We will handle all the local management on your behalf leaving you to focus on home markets.
Since Ontogenix began in late 2000's, we’ve provided our services to a variety of businesses. We have a healthy mix of large and small companies in our portfolio. Typically our customers are innovative and looking for in depth analysis of market entry nuances in a new segment.
Japan clinic strategy
Global leader in Dental
The company wanted to expand into Japan and needed detailed insights the dental clinics in different prefectures in Japan to help align their sales resources. We provided them with a detailed report in English. Based on this report, the company was able to plan their expansion and drive growth.
The company needed a clear strategy for positioning their product in Australia. We analysed the patient workflow and monies available for reimbursement at various stages of stroke recovery. Based on our recommendation, the company was able to position the product & pricing for the right segment fit.
New technology evaluation
GLC in Singapore
Developed a detailed global commercialisation strategy for respiration monitor on two fronts: clinical and wearable. The project included detailed reporting on optimum clinical areas, MVP, market barriers, regulatory pathways. These were researched and reported on both clinical and wearable front.
Distributor roadmap for China
Large MNC in IVD space
Detailed diligence on IVD distribution in China including mapping of key competition, their degree of presence in China, key strategies adopted. The project included in-depth research on criteria for selection of equipment's, growth trends, pricing for various tests, various reagent prices and a detailed summary of recommendation for market entry.
Indonesia entry roadmap
VC backed distributor
The parent company was looking for actionable inputs to kick start their acquisition and distribution into Indonesia in cardio vascular space. It was critical to understand the buying process, the conception landscape, the pricing waterfall to decide on the correct product positioning for the target accounts. Our extensive on ground research gave them the confidence and direction.
A European wound care company with global footprint, wanted to expand their distribution in Australia . We segment the market, look at buying cycles and draw up the expansion strategy. Then we hire and manage a professional sales team resulting in 30% growth month on month.
Global entry strategy
Developed global commercialisation strategy for a Singapore premium start up company in six steps using our proprietary framework, under govt funding from Spring Singapore. The process included several brain storming sessions with management team to align with industry practices besides in country compliance.
New technology evaluation
Japanese MNC's innovation wing wants to understand the commercial viability of their technology in non-invasive glucose. Ontogenix does a global mapping of the market with possible technology incumbents, patents validation, changing regulatory perspective and makes appropriate recommendations for the group.
Asean & Singapore Lead
30 Cecil St, #19-08 Prudential Tower, Singapore 049712