Target Market Assessment and Go-To-Market for
Medical Device and IVD Manufacturers
Your sales are doing well in Country A and now you’re ready to expand into Country B. All you need is a good distributor and success is assured right? Not so fast. A winning formula in one country may not transfer to another. Companies often rush headlong into a new market without properly assessing competition, reimbursement, business culture and local demand for their product. Often the assumption is that a big market is a good market, and a good distributor will overcome fundamental challenges.
High level or deep dive: we can customize our analysis to fit your needs
Online you can find research reports for sale that may tell you about the size of individual medical device and IVD markets by country and/or category. These reports focus on published government data but rarely provide insights that really matter.
Every member of our multilingual distribution team has 20+ years of experience in international medical device sales and distribution so we know which questions to ask and how to collect this information efficiently. By tapping our database of local business contacts and distributors, we offer valuable insight no amount of internet searching could uncover, increasing your odds of success in your critical first year of sales. As a company you need to be smart about prioritizing the countries you enter, considering all factors including:
Size of local market for your device category
Speed and cost of getting regulatory approval
Competitors in your category (local vs imports)
State of your technology vs currently available options
Local pricing, payors and reimbursement
Intellectual Property (IP) protection
Acceptability of imported products
Import tariff rates
Structure of local sales and distribution channels
Find and assess the right KOL for your company
Specialists in Medical
Device, IVD & OTC Products
Deep Understanding of
We can support in defining the right Go-To-Market strategy
Regardless of whether you are entering Brazil, France, Japan or anywhere in between, our distribution team can help you in creating an effective Go-To-Market strategy. Rather than launching your product and learning by trial and error, we reduce your risk by giving you a clear plan in advance describing how to approach the market, focusing on elements like distribution channels, distributor profile, medical endorsement and pricing,
Our proven process will help you enter new markets quickly and successfully
Determine which countries or regions seem like good potential markets for your medical device.
Determine how to enter the focus markets based on local competition, pricing and route to market.
Define your ideal distributor profile, find matches, introduce your company and device, then qualify distributors.
Conduct due diligence on your preferred short list of potential partners, do site visit, and coordinate getting signed contracts.
Contact us to discuss your specific needs
Let Luctor Medical supplement your own research with the experienced insight our global medical distribution team. Get in touch with us and we’ll tell you more about how we have helped hundreds of medical device and IVD companies focus their international market strategy and successfully introduce their products into new international markets.