Business

Business

Views on running a successful MedTech company.

Chief Executive Officer, MedTech Europe, EDMA & Eucomed
Europe is known for its excellent startup ecosystem. Moreover, the medtech industry in Europe is made up of 95% SMEs. If we want the innovation successes of past and present to continue well into the future, it is critical that the bigger medtech players, and the financial and investment ecosystem keep taking the pulse of European medtech startups.
What you can learn from Coloplast’s perspective-driven approach to innovation. Coloplast, a long established leader in ostomy and continence care, was losing its competitive edge. Despite an endless stream of new products with ever more new features in the pipeline, they kept missing their sales targets. Coloplast found that its traditional market research was only leading them further astray: the research reported that there were thousands of possible problems to solve in ostomy care—some related to the issue of leakage—but it couldn’t offer any insight into which ones mattered the most to users and why. Management knew that they needed to have a clear answer to the company’s most fundamental question: what problems are we trying to solve?
Chief Executive Officer, MedTech Europe, EDMA & Eucomed
You may have heard recently that the leadership of EDMA, Eucomed and MedTech Europe made some very important recommendations to their memberships about how to improve the EDMA and Eucomed Codes of Ethical Business Practice, which together we’ll ultimately refer to as the MedTech Europe Code of Ethical Business Practice.
Senior Partner and Managing Director, The Boston Consulting Group
It's increasingly clear that the Medical Technology (MedTech) industry is going through an unprecedented level of change. In Europe, budget pressures are impacting market access and reimbursement. Payers and providers require evidence of value at the clinical and socio-economic level. And buying processes are changing.
Managing Director, PricewaterhouseCoopers
Value creation capabilities based solely on R&D investment are not generating as much growth as they used to. According to PwC’s “Operating performance in the Medtech industry: Trends and imperatives” report, which studied the performance of 56 global medtech companies, the impact of R&D on revenue growth declined at an average annual rate of 10% and the return on invested capital declined at a rate of 2% between 2005 and 2011. The impact on growth is evident by revenue growth rates declining at a rate of approximately 12% per year.