March 28, 2025
Launching a new medical technology product is a high-stakes endeavour. Beyond the innovation itself, a successful commercialisation strategy hinges on a deep understanding of the market. In the complex world of medical technology, a well-defined go-to-market (GTM) strategy underpinned by market insights isn't just a nice-to-have; it's a critical need.
This post will explore why an insights-driven GTM strategy is crucial for MedTech success and share some best practices that can pave the way for a smooth and impactful launch.
The medical technology landscape is complex. It's heavily regulated, driven by clinical evidence, and influenced by a diverse group of stakeholders, including physicians, patients, payers, and hospitals. An insights-driven GTM strategy allows manufacturers to:
A strong GTM strategy underpinned by market insights helps minimise the risk of costly launch failures by identifying potential challenges early on. Based on the lessons learned from successful and failed launches in MedTech, SCR has identified the top 10 best practices.
1. Targeted niche focus. Identify a clear niche, deeply understand their needs, and tailor your GTM strategy accordingly. A targeted approach at the time of launching your product, focusing on a specific clinical need, can lead to rapid adoption.
2. Insights-driven decision making. Invest in thorough market research to understand market needs, competitive landscape, and regulatory requirements.
3. Strong stakeholder engagement. Build strong relationships with key stakeholders, like Key Opinion Leaders (KOLs). Engage them early and throughout the commercialisation process.
4. Compelling value proposition. Clearly define your product's differentiation and benefits to the end user. A strong, easily understood value proposition is essential.
5. Seamless integration & user experience. Prioritise user experience and ensure your product integrates seamlessly into existing clinical workflows to maximise acceptance.
6. Comprehensive training & support. Develop comprehensive training programs and maintain excellent customer service to ensure medical professionals are fully trained on how to use your product and have best class ongoing support.
7. Proactive reimbursement strategy. Start planning your reimbursement strategy early and invest in data to support your value proposition. Robust health economic data is essential for navigating the complex reimbursement landscape.
8. Strategic regulatory planning. Thoroughly plan for regulatory approvals. Do not underestimate the time and resources needed for regulatory approval.
9. Continuous evidence gathering. Gather real-world evidence post-launch to support publications and expand the product's clinical utility.
10. Agile and adaptive approach. Be prepared to adjust your GTM strategy based on market feedback and changing conditions.
In the fast-paced and highly competitive medical technology market, having a refined GTM strategy is a must for success. By collecting market insights, manufacturers can make insights-driven decisions that minimise risks, optimise product launches, and ultimately improve patient outcomes.
Are you ready to optimise your MedTech commercialisation strategy? Contact us today to learn how SCR can help you achieve your goals.
