Thank you to all who attended last weeks Med Tech Licensing Workshop. The workshop covered all the essential steps to successfully licensing a med tech IP…from finding the right partners, how to contact them, what to say (what not to say), how to get the best royalty rate, key mistakes to avoid and much more.
Successful marketing of medical devices takes more than just a great product. It takes communicating that product’s potential in a compelling way. Use the right marketing strategy, and you’ll set yourself apart from the competition. Use the wrong one, and you wind up creating a marketing nightmare.
New therapeutic drug treatments are rapidly entering the market. They’re designed to treat all sorts of diseases from headaches to diabetes. It’s a multi-billion dollar industry that’s highly competitive. The challenge is how do you stand out not only from the competition but also to the consumer.
The medical device industry is changing so fast that getting your med device to market sooner rather than later is the priority. The rapid pace of new devices entering the market is shortening the lifespan of med device technology. The question is how will you bring your med device into the market to profit from this multi-billion dollar opportunity? Will, you market it directly, license it out to an established player, or use a combination of these two strategies?
The medical device industry is facing challenging headwinds. Governments and health insurers worldwide are looking to control costs. Hospitals are operating on tighter budgets. And private facilities are receiving lower reimbursements. These trends are creating significant changes in the healthcare industry and the way medical devices are valued and purchased. The question is will your business capitalize on these trends or fall by the wayside?