The dawn of another new year always brings with it hopes of new ideas and great progress. This is true in business as well as in our personal lives. For medical device marketers, 2016 may represent a year of challenge as well as opportunity. Although the market continues to be strong and demand for medical devices is expected to remain high, more obstacles seem to be rising on the marketing front. Whether communicating to hospitals and physicians, or directly to end-consumer patients, it is getting more difficult than ever to locate a target audience, present a compelling message, and motivate a buying-oriented action.
As recently as 2013, a MedTech infographic posted on MDDI Online predicted that the medtech market would grow 6.4% each year through 2017. In addition it predicted that the medical device market itself would reach $134 billion by 2016. Orthopedic equipment represents a substantial portion of this market, while other significant product categories include therapeutic devices, cardiovascular devices, neuromodulation devices, diabetes devices, urology devices and surgical technologies. In the United States, overall healthcare spending as a percentage of the Gross Domestic Product, or GDP, remains higher than anywhere else in the world.
Despite the huge market potential, there is a great deal of competition. SelectUSA reports that there are more than 6,500 medical device companies in the U.S. So how can any one company make itself stand out and garner market attention without busting the budget? The answer lies in shrewd marketing tactics which take advantage of digital communication outlets. Here are a few of the medical device marketing strategies which can help companies achieve their recognition and sales goals in 2016:
A consistent and coordinated digital presence lays the groundwork for establishing long-term connections and building trust. This trust can then be converted into interest, and eventually into increased sales. Implementing these strategies will make 2016 productive and profitable.