Challenges in the MedTech Industry
The medical technology industry is being transformed by breakthrough research, digital innovation, and innovative business models. The most important trends in the field of digital innovation are the use of artificial intelligence, the strong development of sensor technology and individualized medical technology.
Regulatory requirements for the approval and distribution of comparison from one country to the next, and the demands on innovators are becoming higher increasingly heavy. Confronted with elaborate development and approval processes, increased legal regulations, and increased competitive and cost financial pressures, medtech companies are facing far greater challenges than in the past before.
Overcoming the challenges
Companies need to optimize their business model to be prepared for the increasing price erosion and digitalization. In the foreseeable future, Asia will continue to emerge as the most important growth driver in the global medical technology market. the ageing of the population will increase rapidly, particularly in China, causing creating an enormous demand for healthcare services. Market potential for medical technology exists across the entire development spectrum, from los-cost products to complex systems such as surgical robots. As the market volume in China will increase sharply in the next few years and will in future displace Europe from second place among the most important medical technology markets, companies must position themselves in the market in good timestrategically and effectively.
Although MedTech market currently is dominated by large American and European manufacturers, the potential in growth and expansion as well as the existing vacancy in advanced technologies and equipment can be seized properly not only for a smooth entry of small and middle-sized enterprises in the market but also a further development in market share for big global players with the help of SILREAL's expertise. When to enter the market with what products and how to take into account both company's interest and difficulties in localization are the mostly asked two questions from our previous MedTech clients. We will lead you to the optimum solution.
SILREAL GmbH supports medical technology companies in adapting and optimizing their business model to best suit the changed framework conditions and the constantly changing shifting legal regulations. By cooperating and consulting with various private and public companies, such as the German Federal Ministry of Health and the European Federation of Pharmaceutical Associations (EFPIA), we have gained sufficient experience to help and assist you to achieve your success.
Conducting market research
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Marketing strategy support
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Implementation of strategies
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