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.
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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.