Report Suggests Orthopods Like Ortho Companies, While Cardiologists Don’t Like Cardiology Companies

Abstract

Millennium Research Group (MRG), the global authority on medical technology market intelligence, has investigated the behaviour of US specialists and found groups to demonstrate varying perceptions and to evaluate medical device brands using widely differing criteria. Orthopedic surgeons and plastic surgeons are generally satisfied with both the products and the companies they purchase from, surgeons practicing in cardiology are significantly dissatisfied on both levels and have many complaints about device price, sales reps and the range of available products.

MRG’s Perception Pulse Report

Manufacturers must be aware of these differences when attempting to differentiate their products in the market. MRG created its Perception Pulse product to focus directly on those aspects of customer perception that most influence purchase decisions. The most recent Perception Pulse report, Brand Perceptions in the US Medical Device Industry is wide in scope, comparing and contrasting brand awareness, customer preferences and perceptions of medical devices across six different medical specialties: cardiology, general surgery, OB/GYN, spine & neurosurgery, orthopedic surgery and plastic surgery.

Spine, Neuro, Plastics and Ortho are the most loyal

Spine surgeons & neurosurgeons, plastic surgeons, and orthopedic surgeons tend to be more loyal to a single medical device company and purchase most of their products from just one or two manufacturers. Other specialties are much more likely to switch brands or purchase from multiple medical device companies simultaneously. MRG’s latest Perception Pulse illuminates this and many other differences.

What does all this mean for Manufacturers?

While specialties vary widely in their typical responses, there is also a wide range of perceptions within each specialty. Some companies do well in one dimension, but not others. Brands have distinct strengths and distinct weaknesses that can therefore be leveraged to bolster a company’s competitive position.

“The report gives device companies in each market a strategic view of their major opportunities, and it highlights how they can position their brands to grow market share,” said MRG Senior Analyst Nick Morris. “By benchmarking performance against key competitors, and by recognizing the strengths and weaknesses of these competitors and of their own company, device manufacturers can effectively allocate resources to close gaps in the factors that are most important in purchase decisions.”

Millennium Research Group’s Perception Pulse provides unprecedented insights into the behaviors and preferences of those largely responsible for decisions about the purchase and use of medical devices, particularly illuminating why changes are happening in a particular market. Understanding brand perceptions in the US Medical Device Industry is essential for anyone who produces or markets medical devices.

Does this read across to International?

The report deals exclusively with US clinicians and it would be dangerous to extrapolate too casually to the European market, especially as the company/clinician relationship is so different between the continents.  Having said that, it seems likely that differences between specialties is driven to a large extent by the type of surgery, the reliance on technology, the need (or otherwise) for support, so it might be surprising if a European report would be all that different.

Source: Qmed, medlatest staff