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Global Medical Devices Survey 2013-2014 - Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry

Description

Product Synopsis

"Medical Devices Survey 2013-2014: 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 supplier companies' media spend, marketing and sales strategies and practices, and business planning are set to change in 2013-2014. Additionally, this report presents comparative analysis between four years of survey results (wherever applicable). This report provides the current size of the marketing and advertising budgets of global medical devices industry suppliers and how their spending will change, providing an insight into global marketing behaviour. In addition, the report identifies future growth of global medical devices industry buyers and suppliers, and MandA 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 size.

Introduction and Landscape

Why was the report written?

This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading medical devices industry companies. 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 the global medical devices industry. The report also identifies global medical devices industry buyers' and suppliers' future growth, MandA, and investment expectations.

What is the current market landscape and what is changing?

Executives from the global medical device industry anticipate an increase in consolidation, with 55% of respondents projecting an increase in merger and acquisition (MandA) activities in 2013.

What are the key drivers behind recent market changes?

MandA is driven by the need for favourable product development and commercial product performance, a surge in demand for more sophisticated medical equipment, high patient expectations, stringent legislation, and rising living standards.

What makes this report unique and essential to read?

This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading medical devices industry companies. 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 the global medical devices industry. The report also identifies global medical devices industry buyers' and suppliers' future growth, MandA, and investment expectations. Additionally, this report also presents comparative analysis between four years of survey results (wherever applicable).

Key Features and Benefits

Project industry trends and revenue growth expectations in 2013, and understand business confidence to make informed business decisions.

Drive revenues by understanding future product investment areas and key growth regions.

Uncover key challenges and opportunities, and identify the key actions required to maintain and win buyer business.

Formulate effective sales and marketing strategies by identifying how buyer budgets are changing and the direction of spending 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 buyers.

Key Market Issues

According to the medical device industry respondents, China, India, Brazil, Russia, and Eastern Europe are expected to offer the most industry growth opportunities in 2013.

'Market uncertainty', 'responding to pricing pressure', and 'regulatory change' are the leading business concerns for the global medical devices industry in 2013.

The projected average size of the global annual marketing budget for supplier companies in the medical devices industry in 2012 was US$1.7 million, but this decreased to US$725,000 in 2013.

'Online content sites and portals' was highlighted as a key investment area by 37% of supplier respondents, while 35% of respondents projected strong investment growth in 'corporate and brand websites'.

Overall, 'competitor and market intelligence research', 'customer intelligence and analytics', and 'business performance management solutions' were identified as the marketing and sales solutions that most respondents expected to invest in during 2013.

Key Highlights

An analysis of revenue growth expectations by senior level respondents reveals that 48% are 'more optimistic' about their company's revenue growth in 2013.

An analysis of responses by global medical devices manufacturers reveals that 'new product development' and 'employee training' will record a significant increase in capital expenditure in 2013.

The top three key priorities in 2013 for medical device manufacturers include the introduction of 'new products and services', business 'expansion in current market', and 'expand geographical reach'.

A total of 43% of respondents from medical device manufacturing companies and 49% of respondents from medical device supplier companies anticipate an increase in their current workforce in 2013.

Survey results indicate that the top five developed countries expected to generate the most demand for the medical device industry in 2013 are Singapore, Taiwan and Hong Kong, the US, the UK, Germany, and South Korea.

Table of Contents

1 Introduction

  • 1.1 What is This Report About?
  • 1.2 Definitions
  • 1.3 Methodology
  • 1.4 Profile of Survey Respondents: Global Medical Devices Industry
    • 1.4.1 Profile of buyer respondents
    • 1.4.2 Profile of supplier respondents

2 Executive Summary

3 Global Medical Devices Industry Dynamics

  • 3.1 Global Medical Devices Industry: Revenue Growth Expectations
    • 3.1.1 Global medical devices industry: revenue growth expectation by company type
    • 3.1.2 Global medical devices industry: revenue growth expectations by region
    • 3.1.3 Global medical devices industry: revenue growth expectations by turnover
    • 3.1.4 Global medical devices industry: revenue growth expectations of senior level respondents
  • 3.2 Global Medical Devices Industry: Future Developments in Business Structure
    • 3.2.1 Global medical devices industry: future developments in business structure by buyers
    • 3.2.2 Global medical devices industry: future developments in business structure by suppliers
  • 3.3 Global Medical Devices Industry: Change in Company Strategies
    • 3.3.1 Global medical devices industry: change in leading company strategies by buyers
    • 3.3.2 Global medical devices industry: change in leading company strategies by suppliers
    • 3.3.3 Global medical devices industry: change in leading company strategies by region
    • 3.3.4 Global medical devices industry: change in leading company strategies by company turnover
  • 3.4 Global Medical Devices Industry: Merger and Acquisition Activity Expectations
    • 3.4.1 Global medical devices industry: merger and acquisition activity expectations by buyers
    • 3.4.2 Global medical devices industry: merger and acquisition activity expectations by suppliers
    • 3.4.3 Global Medical Devices Industry: Merger and acquisition activity expectations by region
    • 3.4.4 Global medical devices industry: merger and acquisition activity expectations by company turnover
    • 3.4.5 Global medical devices industry: expand geographical reach vs. MandA activity projections
  • 3.5 Global Medical Devices Industry: Capital Expenditure Estimation
    • 3.5.1 Global medical devices industry: capital expenditure estimation by buyers
    • 3.5.2 Global medical devices industry: capital expenditure estimation by suppliers
    • 3.5.3 Global medical devices industry: capital expenditure estimation by region
    • 3.5.4 Global medical devices industry: capital expenditure estimation by company turnover
  • 3.6 Global Medical Devices Industry: Planned Change in Staff Recruitment Activity
    • 3.6.1 Global medical devices industry: planned change in staff recruitment activity by company type
    • 3.6.2 Global medical devices industry: planned change in staff recruitment activity by region
    • 3.6.3 Global medical devices industry: planned change in staff recruitment activity by company turnover

4 Global Medical Devices Market Growth Outlook

  • 4.1 Global Medical Devices Industry: Demand in Emerging Markets
    • 4.1.1 Global medical devices industry: demand in emerging markets by buyers
    • 4.1.2 Global medical devices industry: demand in emerging markets by suppliers
    • 4.1.3 Global medical devices industry: demand in emerging markets by region
    • 4.1.4 Global medical devices industry: demand in emerging markets by company turnover
  • 4.2 Global Medical Devices industry: Growth Expectations in Developed Countries
    • 4.2.1 Global medical devices industry: growth expectations in developed countries by buyers
    • 4.2.2 Global medical devices industry: growth expectations in developed countries by suppliers
    • 4.2.3 Global medical devices industry: growth expectations in developed countries by region
    • 4.2.4 Growth expectations in developed countries by company turnover

5 Threats and Opportunities for the Medical Devices Industry

  • 5.1 Global Medical Devices Industry: Leading Business Concerns, 2013-2014
    • 5.1.1 Global medical devices industry: leading business concerns by company type
    • 5.1.2 Global medical devices industry: leading business concerns by region
    • 5.1.3 Global medical devices industry: leading business concerns by company turnover
  • 5.2 Global Medical Devices Industry: Key Supplier Actions to Maintain and Win Buyer Business
    • 5.2.1 Global medical devices industry: actions to maintain and secure buyer business by buyers
    • 5.2.2 Global medical devices industry: actions to maintain and secure buyer business by region
    • 5.2.3 Global medical devices industry: actions to maintain and secure buyer business by turnover
    • 5.2.4 Global medical devices industry: actions to maintain and secure buyer business by procurement budget
    • 5.2.5 Global medical devices industry: actions to maintain and secure buyer business by purchasing decision authority

6 Global Medical Devices Industry Suppliers' Marketing Expenditure Activity

  • 6.1 Global Medical Devices Industry Suppliers: Annual Marketing Budgets
    • 6.1.1 Annual marketing budgets
    • 6.1.2 Annual marketing budgets by region
    • 6.1.3 Annual marketing budgets by company turnover
  • 6.2 Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels
    • 6.2.1 Planned Change in Marketing Expenditure Levels
    • 6.2.2 Planned change in marketing expenditure by region
    • 6.2.3 Planned change in marketing expenditure by turnover
    • 6.2.4 Planned change in marketing expenditure levels vs. revenue growth expectations
    • 6.2.5 Planned change in marketing expenditure by decision making authority
  • 6.3 Global Medical Devices Industry Suppliers: Future Investment in Media Channels
    • 6.3.1 Future investment in media channels by suppliers
    • 6.3.2 Future investment in media channels by region
    • 6.3.3 Future investment in media channels by company turnover
  • 6.4 Global Medical Devices Industry: Suppliers' Future Investment in Marketing and Sales
    • 6.4.1 Planned investment in marketing and sales technologies
    • 6.4.2 Planned investment in marketing and sales technologies by region
    • 6.4.3 Planned investment in marketing and sales technologies by company turnover

7 Marketing and Sales Behaviors and Strategies in the Global Medical Devices Industry

  • 7.1 Global Medical Devices Industry: Key Marketing Aims of Suppliers
    • 7.1.1 Key marketing aims of suppliers by region
    • 7.1.2 Key Marketing aims of suppliers by company turnover
  • 7.2 Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies in 2013
    • 7.2.1 Key amendments to marketing agencies
    • 7.2.2 Key amendments to marketing agencies by region
    • 7.2.3 Key amendments to marketing agencies by company turnover
  • 7.3 Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency
    • 7.3.1 Critical factors for choosing a marketing agency by region
    • 7.3.2 Critical factors for choosing a marketing agency by company turnover

8 Appendix

  • 8.1 Global Medical Devices Full Survey Results
  • 8.2 Methodology
  • 8.3 Contact us
  • 8.4 About ICD Research
  • 8.5 Disclaimer

List of Tables

  • Table 1: Total Global Medical Devices Industry Survey Respondents by Company Type, 2013
  • Table 2: Global Medical Devices Industry Buyer Respondents by Job Role (%), 2013
  • Table 3: Global Medical Devices Industry Buyer Respondents by Global Company Turnover (%), 2013
  • Table 4: Global Medical Devices Industry Buyer Respondents by Region (%), 2013
  • Table 5: Global Medical Devices Industry Supplier Respondents by Job Role (%), 2013
  • Table 6: Global Medical Devices Industry Supplier Respondents by Global Turnover (%), 2013
  • Table 7: Global Medical Devices Industry Supplier Respondents by Region (%), 2013
  • Table 8: Global Medical Devices Industry: Revenue Growth Optimism (%), 2010-2013
  • Table 9: Global Medical Devices Industry: Revenue Growth Optimism by Company Type (%), 2010-2013
  • Table 10:Global Medical Devices Industry: Revenue Growth Optimism by Region (%), 2013
  • Table 11: Global Medical Devices Industry: Revenue Growth Optimism by Turnover (%), 2013
  • Table 12: Global Medical Devices Industry: Revenue Growth Optimism by Senior-Level (%), 2013
  • Table 13: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Buyer Respondents), 2013
  • Table 14: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Supplier Respondents), 2013
  • Table 15: Global Medical Devices Industry: Change in Leading Company Strategies by Buyers (%), 2013
  • Table 16: Global Medical Devices Industry: Change in Leading Company Strategies by Suppliers (%), 2013
  • Table 17: Global Medical Devices Industry: Change in Leading Company Strategies by Region (%), 2013
  • Table 18: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Buyers, 2010-2013
  • Table 19: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Suppliers, 2010-2013
  • Table 20: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Region, 2013
  • Table 21: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Company Turnover, 2013
  • Table 22: Global Medical Devices Industry: Expand geographical reach vs. MandA activity projections, 2013
  • Table 23: Global Medical Devices Industry: Capital Expenditure Estimation by Buyers (%), 2013
  • Table 24: Global Medical Devices Industry: Capital Expenditure Estimation by Suppliers (%), 2013
  • Table 25: Global Medical Devices Industry: Capital Expenditure Estimation by Suppliers (%), 2013
  • Table 26: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Company Type (%), 2013
  • Table 27: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Region (%), 2013
  • Table 28: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Company Turnover (%), 2013
  • Table 29: Global Medical Devices Industry: Demand in Emerging Markets (% Buyer Respondents), 2013
  • Table 30: Global Medical Devices Industry: Demand in Emerging Markets (% Supplier Respondents), 2013
  • Table 31: Global Medical Devices Industry: Demand in Emerging Markets by Company Turnover (%), 2013
  • Table 32: Global Medical Devices Industry: Growth Expectations in Developed Countries by Buyers (%), 2013
  • Table 33: Global Medical Devices Industry: Growth Expectations in Developed Countries by Suppliers (%), 2013
  • Table 34: Global Medical Devices Industry: Growth Expectations in Developed Countries by Company Turnover (%), 2013
  • Table 35: Global Medical Devices: Leading Business Concerns (%), 2010-2013
  • Table 36: Global Medical Devices Industry: Leading Business Concerns by Company Type (%), 2013
  • Table 37: Global Medical Devices Industry: Leading Business Concerns by Region (%), 2013
  • Table 38: Global Medical Devices Industry: Leading Business Concerns by Company Turnover (%), 2013
  • Table 39: Global Medical Devices Industry: Securing Buyer Business, Buyer Responses (%), 2013
  • Table 40: Global Medical Devices Industry: Securing Buyer Business, Buyer vs. Supplier Responses (%), 2013
  • Table 41: Global Medical Devices Industry: Securing Buyer Business by Region (%), 2013
  • Table 42: Global Medical Devices Industry: Securing Buyer Business by Company Turnover (%), 2013
  • Table 43: Global Medical Devices Industry: Securing Buyer Business by Procurement Budget (%), 2013
  • Table 44: Global Medical Devices Industry Suppliers: Annual Marketing Budgets (%), 2010-2013
  • Table 45: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Region (%), 2013
  • Table 46: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Company Turnover (%), 2013
  • Table 47: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure (%), 2010-2013
  • Table 48: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Region (%), 2013
  • Table 49: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Company Turnover (%), 2013
  • Table 50: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Decision Making Authority (%), 2013
  • Table 51: Global Medical Devices Industry Suppliers: Future Investment in Media Channels (%), 2013
  • Table 52: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales (%), 2013
  • Table 53: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Region (%), 2013
  • Table 54: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Company Turnover (%), 2013
  • Table 55: Global Medical Devices Industry Suppliers: Key Marketing Aims (%), 2013
  • Table 56: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies (%), 2013
  • Table 57: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Region (%), 2013
  • Table 58: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Company Turnover (%), 2013
  • Table 59: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency (%), 2013
  • Table 60: Survey Results - Closed Questions

List of Figures

  • Figure 1: Global Medical Devices Industry: Revenue Growth Optimism (%), 2010-2013
  • Figure 2: Global Medical Devices Industry: Revenue Growth Optimism by Company (%), 2010-2013
  • Figure 3: Global Medical Devices Industry: Revenue Growth Optimism by Region (%), 2013
  • Figure 4: Global Medical Devices Industry: Revenue Growth Optimism by Turnover (%), 2013
  • Figure 5: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Buyer Respondents), 2013
  • Figure 6: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Supplier Respondents), 2013
  • Figure 7: Global Medical Devices Industry: Change in Leading Company Strategies by Buyers (%), 2013
  • Figure 8: Global Medical Devices Industry: Change in Leading Company Strategies by Suppliers (%), 2013
  • Figure 9: Global Medical Devices Industry: Change in Leading Company Strategies by Company Turnover (%), 2013
  • Figure 10: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Buyers, 2010-2013
  • Figure 11: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Suppliers, 2010-2013
  • Figure 12: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Region, 2013
  • Figure 13: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Company Turnover, 2013
  • Figure 14: Global Medical Devices Industry: Expand geographical reach vs. MandA activity projections, 2013
  • Figure 15: Global Medical Devices Industry: Capital Expenditure Estimation by Buyers (%), 2013
  • Figure 16: Global Medical Devices Industry: Capital Expenditure Estimation by Suppliers (%), 2013
  • Figure 17: Global Medical Devices Industry: Capital Expenditure Estimation by Region (%), 2013
  • Figure 18: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Company Type (%), 2013
  • Figure 19: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Region (%), 2013
  • Figure 20: Global Medical Devices Industry: Top Ten Growth Regions, 2013
  • Figure 21: Global Medical Devices Industry: Top Five Emerging Markets, 2014
  • Figure 22: Global Medical Devices Industry: Demand in Emerging Markets (% Buyer Respondents), 2013
  • Figure 23: Global Medical Devices Industry: Demand in Emerging Markets (% Supplier Respondents), 2013
  • Figure 24: Global Medical Devices Industry: Demand in Emerging Markets by Region (%), 2013
  • Figure 25: Global Medical Devices Industry: Top Five Developed Regions by Growth , 2013
  • Figure 26: Global Medical Devices Industry: Growth Expectations in Developed Countries by Buyers (%), 2013
  • Figure 27: Global Medical Devices Industry: Growth Expectations in Developed Countries by Suppliers (%), 2013
  • Figure 28: Global Medical Devices Industry: Growth Expectations in Developed Countries by Region (%), 2013
  • Figure 29: Global Medical Devices: Leading Business Concerns (%), 2010-2013
  • Figure 30: Global Medical Devices: Industry Top Five Leading Business Concerns (%), 2013-2013
  • Figure 31: Global Medical Devices Industry: Leading Business Concerns by Company Type (%), 2013
  • Figure 32: Global Medical Devices Industry: Securing Buyer Business, Buyer Responses (%), 2013
  • Figure 33: Global Medical Devices Industry: Securing Buyer Business, Buyer vs. Supplier Responses (%), 2013
  • Figure 34: Global Medical Devices Industry: Securing Buyer Business by Company Turnover (%), 2013
  • Figure 35: Global Medical Devices Industry: Securing Buyer Business by Purchasing Decision Authority (%), 2013
  • Figure 36: Global Medical Devices Industry Suppliers: Annual Marketing Budgets (%), 2010-2013
  • Figure 37: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Region (%), 2013
  • Figure 38: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Company Turnover (%), 2013
  • Figure 39: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure (%), 2010-2013
  • Figure 40: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Region (%), 2013
  • Figure 41: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Company Turnover (%), 2013
  • Figure 42: Global Medical Devices Industry Suppliers: Planned change in Marketing Expenditure Levels by Revenue Growth Expectations (%), 2013
  • Figure 43: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Decision Making Authority (%), 2013
  • Figure 44: Global Medical Devices Industry Suppliers: Future Investment in Media Channels (%), 2013
  • Figure 45: Global Medical Devices Industry Suppliers: Future Investment in Media Channels by Region (% 'Increase'), 2013
  • Figure 46: Global Medical Devices Industry Suppliers: Future Investment in Media Channels by Turnover (% 'increase'), 2013
  • Figure 47: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales (%), 2013
  • Figure 48: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Region (%), 2013
  • Figure 49: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Company Turnover (%), 2013
  • Figure 50: Global Medical Devices Industry Suppliers: Key Marketing Aims (%), 2013
  • Figure 51: Global Medical Devices Industry Suppliers: Key Marketing Aims by Region (% 'very important' and 'important' responses), 2013
  • Figure 52: Global Medical Devices Industry Suppliers: Key Marketing Aims by Company Turnover (% 'very important' and 'important' responses), 2013
  • Figure 53: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies (%), 2013
  • Figure 54: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Region (%), 2013
  • Figure 55: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Company Turnover (%), 2013
  • Figure 56: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency (%), 2013
  • Figure 57: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency by Region (%), 2013
  • Figure 58: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency by Company Turnover(%), 2013
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