As part of our ongoing exploration into the field of medical market research, TforG has begun to look into the different means of communication in this field with a particular focus on the Medical Device Industry in Europe (EMEA).
With all the technological advances in communication happening in the last decade, the impact on our industry has enabled us to paint an interesting picture of shifting options and applications.
View from the German industry
During our initial exploration in Germany, some of the most significant changes we have noticed include “Changes in communications channels”. During our research we have noticed that the most valuable channel of communication is still “face-to-face” e.g. visits to hospitals or (stand-up) meetings during congresses and exhibitions.
The reason behind this is that personal contact allows for tailor-made information exchanges and consultancy while at the same time avoiding a massive transfer of collateral, useless information.
Another important factor we have noted is the fact that in many cases “the audience has changed”. For example, fifteen years ago physicians, nurses, bio-technicians and purchasers were all constituents of the decision making unit (the discussion partners for the industry). In contrast, today’s decision making unit has extended substantially and various other areas of expertise have become part of the dialog.
In addition, these changes from the more traditional audiences is giving way to broad changes “in content”. Such changes are quite significant and can happen in more than one way:
- Additional disciplines in the audience will require different, additional information.
- The expansion and shift away from “strictly medical” to “other criteria” continues and goes beyond economical (pricing).
- Evidence based information is becoming key. Fund limitations have given way to the need for more detailed and objective information from peer product reviews, generated by institutes that investigate efficacy, efficiency and the usefulness of different products and technologies.
About Helgert Van Raamt
Helgert van Raamt has 35 years of experience in running and setting up companies, big and small, in EMEA (and beyond).
After his senior marketing positions with Organon Teknika and Abbott Labs and four years in Venture Capital as an investment manager for US, UK and NL based funds, he joined Nellcor Europe in 1989 and has lead this company through two consecutive M&A’s (Puritan Bennett and Mallinckrodt). The acquisition by Mallinckrodt for 2.7 Billion made Nellcor the most successful Medic venture after the Second World War.
He left to set up the International Operation of Aspect Medical Systems and brought that to success. In three years it reached a revenue level of $10 million and was profitable two months after the start of the operation.
Since then (2003) he has successfully advised numerous companies about setting up internationally or cleaning up an existing international operation, both independently and as a partner for TforG Group.