Global Medical Devices Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry
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Synopsis
"Global Medical Devices Survey 2012–2013: Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry" is a new report by ICD Research that analyzes how medical devices industry companies' media spend, marketing and sales strategies & practices and business planning are set to change in 2012–2013. This report provides the current size of the marketing and advertising budgets of global medical devices industry suppliers and how spending by global medical devices industry suppliers will change, providing insight into global marketing behaviour. In addition, the report also identifies future growth of buyers and suppliers and M&A activity. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type and sizes."
Summary
Why was the report written?
This report is the result of an extensive survey drawn from ICD Research's exclusive panel of 174 leading global medical devices industry executives. The report provides data and analysis on global medical devices industry suppliers' media spend, marketing and sales strategies, and practices and business planning within the global medical devices industry. This report includes key topics such as media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges and sales tactics of leading suppliers within global medical devices industry. The report also identifies medical device manufacturer companies' and suppliers' future growth, M&A and investment expectations.Most secondary research reports are based on general industry drivers and do not understand the industry executives' attitude and changing behaviours, creating a gap in presenting the business outlook of the industry. In an effort to bridge this gap, ICD Research created this primary-research based report by gathering the opinions of multiple stake holders in the value-chain of the global medical devices industry.
What is the current market landscape and what is changing?
Of respondents across the medical device industry, 61% are 'more optimistic' about revenue growth for their company over the next 12 months than the previous 12 months. . Consolidation in the industry, growth prospects in emerging economies, new product launches, an aging Baby Boomer population in the US, high levels of unmet medical needs and the increased incidence of lifestyle diseases are expected to increase the profitability and cost performance of most medical device companies in 2011.
What are the key drivers behind recent market changes?
The top three key expected changes for 2011 were introduction of 'new products and services', business 'expansion in current market and abroad' and 'improvement in operational efficiency', while in 2010, emphasis was on business 'expansion in current market and abroad', and 'expansion of facilities in the current location'.
What makes this report unique and essential to read?
"Global Medical Devices Survey 2012–2013: Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry" is a new report by ICD Research that analyzes how medical devices industry companies' media spend, marketing and sales strategies & practices and business planning are set to change in 2012–2013. This report provides the current size of the marketing and advertising budgets of global medical devices industry suppliers and how spending by global medical devices industry suppliers will change, providing insight into global marketing behaviour. In addition, the report also identifies future growth of buyers and suppliers and M&A activity. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type and sizes."
Scope
Project industry trends and revenue growth expectations in 2012 and understand business confidence to take informed business decisions.
Drive revenues by understanding future product investment areas and key growth regions.
Uncover key challenges and opportunities and identify key actions required to maintain and win buyer business.
Formulate effective sales and marketing strategies by identifying how suppliers' marketing budgets are changing and direction of spend in the future. Better promote your business by aligning your capabilities and business practices with your customer's changing needs .
Secure stronger customer relationships by understanding the behaviour and changing strategies of industry suppliers.
Reasons To Buy
Benchmarks sales and marketing plans with industry competitors to effectively determine strategy. This report also promotes your business by aligning your capabilities and business practices with your customers' changing needs during these times of market uncertainty.
This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report promotes your business by aligning your capabilities and business practices with your customer's changing needs.
The report is based on primary survey research conducted by ICD Research accessing its B2B panels comprised of senior purchase decision makers and leading supplier organizations.
Key Highlights
'Customer retention', 'customer acquisition', and 'lead generation' are identified as key marketing aims for global medical device industry suppliers by 77%, 54% and 31% of industry respondents respectively. In 2012, the key strategy that industry suppliers plan to employ is to 'focus sales efforts on generating new business', as identified by 53% of respondents.
The 'ability to target specific audience niches', 'flexibility in customizing services' and 'thorough reporting and analysis' are considered chief success factors for marketing agencies. Survey results indicate that critical success factors have changed slightly since 2010 and 2011, and although the leading critical factor of the 'ability to target specific audience niches' remained in pole position throughout 2010–2012, the importance of 'flexibility in customizing services', and 'thorough reporting and analysis' has increased substantially in the recent survey.
Across the industry, 61% of respondents are more optimistic about revenue growth for their company over the next 12 months.
Of all respondents, 83% from the Rest of the World and 70% from Asia-Pacific are optimistic about revenue growth over the next 12 months, compared to 60% in North America and 53% in Europe.
Companies Mentioned
AngioDynamics, Apollo Hospitals, Baxter International, Biox Instruments, Boston Medical DeviceBoston Scientific, ChipDXConcentric MedicalConvaTecCQI Solutions DaAn GeneFast Growth EnterprisesFood and Drug Administration (FDA)Fortis Healthcare GE healthcareGlaxoGlobal groupLife Technologies Manipal Hospitals MedtronicMicroline SurgicalMikrotech National Science FoundationNavilyst MedicalNovartisPAA Laboratories Philips healthcarePI (Physik Instrumente)Quality Systems (QSI)SeimensSigma-AldrichSignal GeneticsSmith & Nephew Starion InstrumentsStryker IncSynovis Life TechnologiesSynthesVasomedical GlobalX-FAB Silicon Foundries General HealthcareMicrosoftCaradigmMicroCHIPS, Medical DevicesTable of Contents1 Introduction1.1 What is This Report About?1.2 Definitions1.3 Methodology1.4 Profile of Survey Respondents: Global Medical Devices Industry1.4.1 Profile of buyer respondents1.4.2 Profile of supplier respondents2 Executive Summary3 Global Medical Devices Industry Dynamics3.1 Revenue Growth Expectations in the Global Medical Devices Industry3.1.1 Revenue growth expectations by company type3.1.2 Revenue growth expectations by region3.1.3 Revenue growth expectations by turnover3.1.4 Revenue growth expectations by senior-level respondents3.1.5 Revenue growth expectations – cross industry comparisons3.2 Future Developments in Business Structure: Global Medical Devices Industry3.2.1 Future developments in business structure by buyers3.2.2 Future developments in business structure by suppliers3.3 M&A Activity Projections in the Global Medical Devices Industry3.3.1 M&A activity projections by buyers3.3.2 M&A activity projections by suppliers3.3.3 M&A activity projections by region3.3.4 M&A activity projections by turnover3.3.5 Expansion abroad vs. M&A activity projections3.4 Capital Expenditure Forecast in the Global Medical Devices Industry3.4.1 Capital expenditure forecast by buyers3.4.2 Capital expenditure forecast by suppliers3.4.3 Capital expenditure forecast by region3.4.4 Capital expenditure forecast by company turnover3.5 Planned Change in Staff Recruitment Activity: Global Medical Devices Industry3.5.1 Planned change in staff recruitment activity by company type3.5.2 Planned change in staff recruitment activity by region3.5.3 Planned change in staff recruitment activity by company turnover4 Global Medical Devices Market Growth Outlook4.1 Global Medical Devices Industry: Demand in Emerging Markets4.1.1 Demand in emerging markets by buyers4.1.2 Demand in emerging markets by suppliers4.1.3 Demand in emerging markets by region4.1.4 Demand in emerging markets by company turnover4.2 Global Medical Devices industry: Growth Expectations in Developed Countries4.2.1 Growth expectations in developed countries by buyers4.2.2 Growth expectations in developed countries by suppliers4.2.3 Growth expectations in developed countries by region4.2.4 Growth expectations in developed countries by company turnover5 Threats and Opportunities for the Medical Devices Industry5.1 Global Medical Devices Industry: Leading Business Concerns for 2012–20135.1.1 Leading business concerns for 2012–2013 by company type5.1.2 Leading business concerns for 2012–2013 by region5.1.3 Leading business concerns for 2012–2013 by company turnover5.2 Global Medical Devices Industry: Key Supplier Actions to Secure Buyer Business5.2.1 Actions to maintain and secure buyer business – buyers5.2.2 Actions to maintain and secure buyer business by region5.2.3 Actions to maintain and secure buyer business by company turnover5.2.4 Actions to maintain and secure buyer business by procurement budget5.2.5 Actions to maintain and secure buyer business by purchasing decision authority6 Global Medical Devices Industry Suppliers' Marketing Expenditure Activity6.1 Annual Marketing Budgets: Global Medical Devices Industry Suppliers6.1.1 Annual marketing budgets by suppliers6.1.2 Annual marketing budgets by region6.1.3 Annual marketing budgets by turnover6.2 Global Medical Devices Industry: Planned Change in Marketing Expenditure Levels6.2.1 Planned change in marketing expenditure levels by suppliers6.2.2 Planned change in marketing expenditure levels by region6.2.3 Planned change in marketing expenditure levels by company turnover6.2.4 Planned change in marketing expenditure levels vs. revenue growth expectations6.3 Global Medical Devices Industry: Future Investment in Media Channels6.3.1 Future investment in media channels by suppliers6.3.2 Future investment in media channels by region6.3.3 Future investment in media channels by company turnover6.4 Global Medical Devices Industry Suppliers Future Investment in Marketing and Sales6.4.1 Planned investment in marketing and sales technologies by suppliers6.4.2 Planned investment in marketing and sales technologies by region6.4.3 Planned investment in marketing and sales technologies by turnover7 Global Medical Devices Industry 2012: Marketing, Sales Behaviors and Strategies7.1 Global Medical Devices Industry 2012: Key Marketing Aims of Suppliers7.1.1 Key marketing aims of suppliers by region7.1.2 Key marketing aims of suppliers by company turnover7.1.3 Key marketing aims of suppliers by revenue growth expectations7.2 Global Medical Devices Industry: Essential Amendments to Marketing Activities in 2012–20137.2.1 Amendments to marketing activities by suppliers7.2.2 Amendments to marketing activities by region7.2.3 Amendments to marketing activities by company turnover7.3 Global Medical Devices Industry: Use of New Media for Business Prospects7.3.1 Use of new media by suppliers7.3.2 Use of new media by region7.3.3 Use of new media by company turnover7.4 Global Medical Devices Industry: Critical Factors for Choosing a Marketing Agency7.4.1 Critical factors for choosing a marketing agency by region7.4.2 Critical factors for choosing a marketing agency by turnover8 Appendix8.1 Global Medical Devices Full Survey Results8.2 Methodology8.3 Contact us8.4 About ICD Research8.5 DisclaimerList of TablesTable 1: Total Global Medical Devices Industry Survey Respondents by Company Type, 2012Table 2: Global Medical Devices Industry Buyer Respondents by Job Role (%), 2012Table 3: Global Medical Devices Industry Buyer Respondents by Global Company Turnover (%), 2012Table 4: Global Medical Devices Industry Buyer Respondents by Region (%), 2012Table 5: Global Medical Devices Industry Supplier Respondents by Job Role (%), 2012Table 6: Global Medical Devices Industry Supplier Respondents by Global Turnover (%), 2012Table 7: Global Medical Devices Industry Supplier Respondents by Region (%), 2012Table 8: Global Medical Devices Industry Revenue Growth Optimism (%), 2010–2012Table 9: Global Medical Devices Industry Revenue Growth Optimism by Company Type(%), 2010–2012Table 10:Global Medical Devices Industry Revenue Growth Optimism by Region (%), 2010–2012Table 11: Global Medical Devices Industry Revenue Growth Optimism by Turnover (%), 2012Table 12: Global Medical Devices Industry Revenue Growth Optimism by Senior-Level (%), 2012Table 13: Key Changes in Business Structure: Global Medical Devices Manufacturers (%), 2012Table 14: Key Changes in Business Structure: Global Medical Devices Industry Suppliers (%), 2012Table 15: M&A Projections: Global Medical Devices Manufacturers (%), 2010–2012Table 16: M&A Projections: Global Medical Devices Industry Suppliers (%), 2010–2012Table 17: Global Medical Devices Industry M&A Projections by Region (%), 2012Table 18: Global Medical Devices Industry M&A Projections by Turnover (%), 2012Table 19: Global Medical Devices Industry: Expand Abroad vs. M&A Activity Projections (%), 2012Table 20: Capital Expenditure Forecast by Global Medical Devices Manufacturers (%), 2012Table 21: Capital Expenditure Forecast by Global Medical Devices Industry Suppliers (%), 2012Table 22: Global Medical Devices Industry: Staff Recruitment by Company Type (%), 2012Table 23: Global Medical Devices Industry: Staff Recruitment by Region (%), 2012Table 24: Global Medical Devices Industry: Staff Recruitment by Turnover (%), 2012Table 25: Demand in Emerging Markets by Global Medical Devices Manufacturers(%), 2012Table 26: Demand in Emerging Markets by Global Medical Devices Industry Suppliers(%), 2012Table 27: Growth in Developed Countries: Global Medical Devices Manufacturers (%), 2012Table 28: Growth in Developed Countries by Global Medical Devices Industry Suppliers (%), 2012Table 29: Global Medical Devices Industry: Leading Business Concerns (%), 2010–2012Table 30: Global Medical Devices Industry: Leading Business Concerns by Company (%), 2012–2013Table 31: Global Medical Devices Industry: Leading Business Concerns by Region (%), 2012–2013Table 32: Global Medical Devices Industry: Leading Business Concerns by Turnover (%), 2012–2013Table 33: Global Medical Devices Industry: Securing Buyer Business, Buyer Responses (%), 2012Table 34: Global Medical Devices Industry: Securing Buyer Business, Buyer vs. Supplier Responses (%), 2012Table 35: Global Medical Devices Industry: Securing Buyer Business by Region (%), 2012Table 36: Global Medical Devices Industry: Securing Buyer Business by Turnover (%), 2012Table 37: Global Medical Devices Industry: Securing Buyer Business by Procurement Budget (%), 2012Table 38: Annual Marketing Budgets in the Global Medical Devices Industry: Suppliers (%), 2010–2012Table 39: Annual Marketing Budgets in the Global Medical Devices Industry by Region (%), 2012Table 40: Annual Marketing Budgets in the Global Medical Devices Industry by Turnover (%), 2012Table 41: Change in Marketing Expenditure: Global Medical Devices Industry Suppliers (%), 2010–2012Table 42: Global Medical Devices Industry: Change in Marketing Expenditure Levels by Region (%), 2012Table 43: Global Medical Devices Industry: Change in Marketing Expenditure by Turnover (%), 2012Table 44: Net Change in Planned Marketing Expenditure: All Industries (%), 2012Table 45: Future Investment in Media Channels: Global Medical Devices Industry Suppliers, 2012Table 46: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales, 2012Table 47: Global Medical Devices Industry Suppliers: Planned Investment in Marketing by Region (%), 2012Table 48: Global Medical Devices Industry Suppliers: Planned Investment in Marketing by Turnover (%), 2012Table 49: Key Marketing Aims: Global Medical Devices Industry Suppliers (%), 2012Table 50: Amendments to Marketing Activities: Global Medical Devices Industry Suppliers (%), 2012Table 51: Global Medical Devices Industry Suppliers: Amendments to Marketing Activities by Region (%), 2012Table 52: Global Medical Devices Industry Suppliers: Amendments to Marketing Activities by Turnover (%), 2012Table 53: Use of New Media by Global Medical Devices Industry Suppliers (%), 2012Table 54: Global Medical Devices Industry Suppliers: Use of New Media by Region (%), 2012Table 55: Global Medical Devices Industry Suppliers: Use of New Media by Turnover (%), 2012Table 56: Critical Factors for Choosing a Marketing Agency: Global Medical Devices Industry Suppliers (%), 2010–2012Table 57: Critical Factors for Choosing a Marketing Agency by Region (%), 2012Table 58: Critical Factors for Choosing a Marketing Agency by Company Turnover (% ), 2012Table 59: Survey Results - Closed QuestionsList of FiguresFigure 1: Global Medical Devices Industry Revenue Growth Optimism (%), 2010–2012Figure 2: Global Medical Devices Industry Revenue Growth Optimism by Company (%), 2010–2012Figure 3: Global Medical Devices Industry Revenue Growth Optimism by Region (%), 2010–2012Figure 4: Global Medical Devices Industry Revenue Growth Optimism by Turnover (%), 2012Figure 5: Global Medical Devices Industry Revenue Growth Optimism by Senior-Level (%), 2012Figure 6: Company Revenue Growth Optimism: Cross-Industry Comparisons (%), 2012Figure 7: Key Changes in Business Structure: Global Medical Devices Manufacturers (%), 2012Figure 8: Key Changes in Business Structure: Global Medical Devices Industry Suppliers (%), 2012Figure 9: M&A Projections: Global Medical Devices Manufacturers (%), 2010–2012Figure 10: M&A Projections: Global Medical Devices Industry Suppliers (%), 2010–2012Figure 11: Global Medical Devices Industry M&A Projections by Region (%), 2012Figure 12: Global Medical Devices Industry M&A Projections by Turnover (%), 2012Figure 13: Global Medical Devices Industry: Expand Abroad vs. M&A Activity Projections (%), 2012Figure 14: Capital Expenditure Forecast by Global Medical Devices Manufacturers (%), 2012Figure 15: Capital Expenditure Forecast by Global Medical Devices Industry Suppliers (%), 2012Figure 16: Global Medical Devices Industry: Capital Expenditure Forecast by Region (%), 2012Figure 17: Global Medical Devices Industry: Capital Expenditure Forecast by Turnover (%), 2012Figure 18: Global Medical Devices Industry: Staff Recruitment by Company Type (%), 2012Figure 19: Global Medical Devices Industry: Staff Recruitment by Region (%), 2012Figure 20: Global Medical Devices Industry: Staff Recruitment by Turnover (%), 2012Figure 21: Global Medical Devices Industry: Top Ten Growth Regions, 2012Figure 22: Global Medical Devices Industry: Top Five Emerging Markets, 2012Figure 23: Demand in Emerging Markets by Global Medical Devices Manufacturers(%), 2012Figure 24: Demand in Emerging Markets by Global Medical Devices Industry Suppliers(%), 2012Figure 25: Global Medical Devices Industry: Demand in Emerging Markets by Region (%), 2012Figure 26: Global Medical Devices Industry: Demand in Emerging Markets by Turnover (%), 2012Figure 27: Global Medical Devices Industry: Top Five Developed Regions by Growth , 2012Figure 28: Growth in Developed Countries: Global Medical Devices Manufacturers (%), 2012Figure 29: Growth in Developed Countries by Global Medical Devices Industry Suppliers (%), 2012Figure 30: Global Medical Devices Industry: Growth in Developed Countries by Region (%), 2012Figure 31: Global Medical Devices Industry: Growth in Developed Countries by Turnover (%), 2012Figure 32: Global Medical Devices Industry: Leading Business Concerns (%), 2012–2013Figure 33: Global Medical Devices Industry: Top Five Leading Business Concerns, 2012–2013Figure 34: Global Medical Devices Industry: Leading Business Concerns by Company (%), 2012–2013Figure 35: Global Medical Devices Industry: Securing Buyer Business, Buyer Responses (%), 2012Figure 36: Global Medical Devices Industry: Securing Buyer Business, Buyer vs. Supplier Responses (%), 2012Figure 37: Global Medical Devices Industry: Securing Buyer Business by Turnover (%), 2012Figure 38: Global Medical Devices Industry: Securing Buyer Business by Purchasing Authority (%), 2012Figure 39: Annual Marketing Budgets in the Global Medical Devices Industry: Suppliers (%), 2010–2012Figure 40: Annual Marketing Budgets in the Global Medical Devices Industry by Region (%), 2012Figure 41: Annual Marketing Budgets in the Global Medical Devices Industry by Turnover (%), 2012Figure 42: Change in Marketing Expenditure: Global Medical Devices Industry Suppliers (%), 2010–2012Figure 43: Global Medical Devices Industry: Change in Marketing Expenditure Levels by Region (%), 2012Figure 44: Global Medical Devices Industry: Change in Marketing Expenditure by Turnover (%), 2012Figure 45: Change in Marketing Expenditure Levels by Revenue Growth Expectations (%), 2012Figure 46: Future Investment in Media Channels: Global Medical Devices Industry Suppliers, 2012Figure 47: Global Medical Devices Industry: Future Investment in Media Channels by Region, 2012Figure 48: Global Medical Devices Industry: Future Investment in Media Channels by Turnover, 2012Figure 49: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales, 2012Figure 50: Global Medical Devices Industry Suppliers: Planned Investment in Marketing by Region (%), 2012Figure 51: Global Medical Devices Industry Suppliers: Planned Investment in Marketing by Turnover (%), 2012Figure 52: Key Marketing Aims: Global Medical Devices Industry Suppliers (%), 2012Figure 53: Global Medical Devices Industry Suppliers: Key Marketing Aims by Region (%), 2012Figure 54: Global Medical Devices Industry Suppliers: Key Marketing Aims by Turnover (%), 2012Figure 55: Global Medical Devices Industry Suppliers: Key Marketing Aims by Revenue Growth (%), 2012Figure 56: Amendments to Marketing Activities: Global Medical Devices Industry Suppliers (%), 2012Figure 57: Global Medical Devices Industry Suppliers: Amendments to Marketing Activities by Region (%), 2012Figure 58: Global Medical Devices Industry Suppliers: Amendments to Marketing Activities by Turnover (%), 2012Figure 59: Use of New Media by Global Medical Devices Industry Suppliers (%), 2012Figure 60: Global Medical Devices Industry Suppliers: Use of New Media by Turnover (%), 2012Figure 61: Critical Factors for Choosing a Marketing Agency: Global Medical Devices Industry Suppliers (%), 2012Figure 62: Critical Factors for Choosing a Marketing Agency by Region (%), 2012Figure 63: Critical Factors for Choosing a Marketing Agency by Company Turnover (%), 2012
To order this report:Medical Devices Industry: Global Medical Devices Survey 2012–2013: Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry
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