Around 20 years ago I joined one of the World’s largest Healthcare companies in the Medical Devices sector. In spite of 14 years experience in Pharmaceuticals at that time I was ill prepared for this key part of the Healthcare industry as it could not have been more different from the Pharma world I was coming from! Surgeons were very different from Physicians and each type of surgeon group had their own unique characteristics!
Business was done in the Operating Theater under the strict supervision of Nurses; business was done B2B as against prescriptions written by GPs; training was a hugely important driver of new business and many. many more interesting differences which fascinated me.
More interesting was the fact that there were no good frameworks and paradigms to understand and forecast the market for the wide variety of surgical procedures and their markets.
“I loved it! This was a field rich with possibilities – and as I was to realize quickly – an area where there was a huge opportunity to do better while doing good!”
It took me roughly 4 years to come up with a practical framework called the 4A-5P model which was extensively used in my organization. A simple model which helps understand the various hurdles and barriers to MedTech commercialization and with a neat way of quantifying the marketing problem for focus. I also adopted a marketing planning framework to help build marketing plans for Medical Devices.