Successful Selling: Conquering The West – How European Medtech Firms Can Penetrate The US
In spite of the increased attention medtech companies have been paying over the last few years to the emerging countries, the US remains undeniably the biggest market for medical devices. Yet, this market continues to leave many European medtech firms stumped. In this article, the second in a four-part series focused on sales strategies, Brian Chapman and Lukas Grabner of global sales and marketing strategy consulting firm ZS list the key reasons why European companies are struggling to conquer the US and how they can overcome these hurdles.
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While the sheer size of the US market might present a challenge to European medtech companies, at least it is homogenous. Europe's notoriously fragmented nature, on the other hand, requires a different sales approach, from country to country. In this article, the third in a four-part series focused on sales strategies, Brian Chapman and Lukas Grabner of global sales and marketing strategy consulting firm ZS outline the most important things to take into consideration when tackling the different European medtech markets.
In view of the political and regulatory threats and opportunities likely to emerge in 2019, for those in the medtech industry, it pays to be vigilant, advises ZS' Brian Chapman. And while some new tech entrants appear to represent a threat to established medtech players, their emergence in general promises significant opportunities for savings and innovation in health care. At the same time, there will likely be a short-term return to both old medtech industry values, and to major M&A.
Consumer technology companies are increasingly making their way into the traditional health-care space with innovative digital solutions that can been seen as a threat to medtech companies. Raluca Cenusa and Brian Chapman of global sales and marketing consulting firm ZS Associates explain how medtech companies can deploy their deep understanding of the clinical, payer and regulatory space, as well as trusting relationships with providers, patients and consumers, to drive growth. This is the first installment of a three-part guest commentary series from Zs focusing on "defense strategies" for traditional medtech companies to keep their tech rivals at bay.