Medical Devices Survey 2013–2014 - Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry

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					                                Medical Devices
                                              Panel Report


Global Medical Devices Survey 2013–
2014: Market Trends, Marketing Spend and Sales
Strategies in the Global Medical Devices Industry

Reference code: MD2210PR
Published: July 2013



ICD Research

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Website: www.icd-research.com




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 TABLE OF CONTENTS



TABLE OF CONTENTS

1      Introduction ........................................................................................................................... 9
    1.1 What is This Report About? ............................................................................................................. 9
    1.2 Definitions ........................................................................................................................................ 9
    1.3 Methodology ...................................................................................................................................10
    1.4 Profile of Survey Respondents: Global Medical Devices Industry ....................................................12
        1.4.1     Profile of buyer respondents ..................................................................................................................... 12
        1.4.2     Profile of supplier respondents ................................................................................................................. 13
2      Executive Summary ............................................................................................................ 15
3      Global Medical Devices Industry Dynamics...................................................................... 18
    3.1 Global Medical Devices Industry: Revenue Growth Expectations ....................................................19
        3.1.1     Global medical devices industry: revenue growth expectation by company type .................................... 21
        3.1.2     Global medical devices industry: revenue growth expectations by region ............................................... 23
        3.1.3     Global medical devices industry: revenue growth expectations by turnover ............................................ 24
        3.1.4     Global medical devices industry: revenue growth expectations of senior level respondents .................. 25
    3.2 Global Medical Devices Industry: Future Developments in Business Structure ...............................26
        3.2.1     Global medical devices industry: future developments in business structure by buyers ......................... 26
        3.2.2     Global medical devices industry: future developments in business structure by suppliers ...................... 28
    3.3 Global Medical Devices Industry: Change in Company Strategies ..................................................30
        3.3.1     Global medical devices industry: change in leading company strategies by buyers................................ 30
        3.3.2     Global medical devices industry: change in leading company strategies by suppliers ............................ 32
        3.3.3     Global medical devices industry: change in leading company strategies by region ................................ 33
        3.3.4     Global medical devices industry: change in leading company strategies by company turnover ............. 34
    3.4 Global Medical Devices Industry: Merger and Acquisition Activity Expectations ..............................36
        3.4.1     Global medical devices industry: merger and acquisition activity expectations by buyers ...................... 36
        3.4.2     Global medical devices industry: merger and acquisition activity expectations by suppliers ................... 38
        3.4.3     Global Medical Devices Industry: Merger and acquisition activity expectations by region ...................... 39
        3.4.4     Global medical devices industry: merger and acquisition activity expectations by company turnover .... 41
        3.4.5     Global medical devices industry: expand geographical reach vs. M&A activity projections .................... 42
    3.5 Global Medical Devices Industry: Capital Expenditure Estimation ...................................................43
        3.5.1     Global medical devices industry: capital expenditure estimation by buyers ............................................ 43
        3.5.2     Global medical devices industry: capital expenditure estimation by suppliers ......................................... 45
        3.5.3     Global medical devices industry: capital expenditure estimation by region ............................................. 46
        3.5.4     Global medical devices industry: capital expenditure estimation by company turnover .......................... 47
    3.6 Global Medical Devices Industry: Planned Change in Staff Recruitment Activity .............................48
        3.6.1     Global medical devices industry: planned change in staff recruitment activity by company type ............ 48
        3.6.2     Global medical devices industry: planned change in staff recruitment activity by region ........................ 49

Global Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales
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Strategies in the Global Medical Devices Industry

© ICD Research. This product is licensed and is not to be photocopied                                                                          Published: July 2013
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       3.6.3      Global medical devices industry: planned change in staff recruitment activity by company turnover ...... 50
4      Global Medical Devices Market Growth Outlook .............................................................. 51
    4.1 Global Medical Devices Industry: Demand in Emerging Markets .....................................................53
       4.1.1      Global medical devices industry: demand in emerging markets by buyers ............................................. 54
       4.1.2      Global medical devices industry: demand in emerging markets by suppliers .......................................... 56
       4.1.3      Global medical devices industry: demand in emerging markets by region .............................................. 58
       4.1.4      Global medical devices industry: demand in emerging markets by company turnover ........................... 59
    4.2 Global Medical Devices industry: Growth Expectations in Developed Countries .............................60
       4.2.1      Global medical devices industry: growth expectations in developed countries by buyers ....................... 61
       4.2.2      Global medical devices industry: growth expectations in developed countries by suppliers ................... 63
       4.2.3      Global medical devices industry: growth expectations in developed countries by region ........................ 65
       4.2.4      Growth expectations in developed countries by company turnover ......................................................... 66
5      Threats and Opportunities for the Medical Devices Industry .......................................... 67
    5.1 Global Medical Devices Industry: Leading Business Concerns, 2013–2014 ....................................68
       5.1.1      Global medical devices industry: leading business concerns by company type ...................................... 70
       5.1.2      Global medical devices industry: leading business concerns by region .................................................. 72
       5.1.3      Global medical devices industry: leading business concerns by company turnover................................ 72
    5.2 Global Medical Devices Industry: Key Supplier Actions to Maintain and Win Buyer Business .........74
       5.2.1      Global medical devices industry: actions to maintain and secure buyer business by buyers .................. 74
       5.2.2      Global medical devices industry: actions to maintain and secure buyer business by region ................... 78
       5.2.3      Global medical devices industry: actions to maintain and secure buyer business by turnover ............... 79
       5.2.4 Global medical devices industry: actions to maintain and secure buyer business by procurement
       budget                                                                                                                                                           .. 81
       5.2.5 Global medical devices industry: actions to maintain and secure buyer business by purchasing
       decision authority .................................................................................................................................................. 82
6      Global Medical Devices Industry Suppliers’ Marketing Expenditure Activity ................ 83
    6.1 Global Medical Devices Industry Suppliers: Annual Marketing Budgets ..........................................84
       6.1.1      Annual marketing budgets ........................................................................................................................ 84
       6.1.2      Annual marketing budgets by region ........................................................................................................ 85
       6.1.3      Annual marketing budgets by company turnover ..................................................................................... 87
    6.2 Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels ......88
       6.2.1      Planned Change in Marketing Expenditure Levels .................................................................................. 88
       6.2.2      Planned change in marketing expenditure by region ............................................................................... 90
       6.2.3      Planned change in marketing expenditure by turnover ............................................................................ 92
       6.2.4      Planned change in marketing expenditure levels vs. revenue growth expectations ................................ 93
       6.2.5      Planned change in marketing expenditure by decision making authority ................................................ 95
    6.3 Global Medical Devices Industry Suppliers: Future Investment in Media Channels .........................97
       6.3.1      Future investment in media channels by suppliers .................................................................................. 97
       6.3.2      Future investment in media channels by region ....................................................................................... 99

Global Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales
                                                                                                                                                                      Page 3
Strategies in the Global Medical Devices Industry

© ICD Research. This product is licensed and is not to be photocopied                                                                                Published: July 2013
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       6.3.3      Future investment in media channels by company turnover .................................................................. 100
    6.4 Global Medical Devices Industry: Suppliers' Future Investment in Marketing and Sales ................102
       6.4.1      Planned investment in marketing and sales technologies...................................................................... 102
       6.4.2      Planned investment in marketing and sales technologies by region ...................................................... 104
       6.4.3      Planned investment in marketing and sales technologies by company turnover ................................... 107
7      Marketing and Sales Behaviors and Strategies in the Global Medical Devices Industry109
    7.1 Global Medical Devices Industry: Key Marketing Aims of Suppliers ..............................................110
       7.1.1      Key marketing aims of suppliers by region ............................................................................................. 112
       7.1.2      Key Marketing aims of suppliers by company turnover .......................................................................... 113
    7.2 Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies in 2013 .....114
       7.2.1      Key amendments to marketing agencies ............................................................................................... 114
       7.2.2      Key amendments to marketing agencies by region ............................................................................... 116
       7.2.3      Key amendments to marketing agencies by company turnover ............................................................ 119
    7.3 Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency .....121
       7.3.1      Critical factors for choosing a marketing agency by region .................................................................... 123
       7.3.2      Critical factors for choosing a marketing agency by company turnover ................................................. 124
8      Appendix ............................................................................................................................ 125
    8.1 Global Medical Devices Full Survey Results .................................................................................125
    8.2 Methodology .................................................................................................................................142
    8.3 Contact us .....................................................................................................................................142
    8.4 About ICD Research .....................................................................................................................142
    8.5 Disclaimer .....................................................................................................................................142




Global Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales
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Strategies in the Global Medical Devices Industry

© ICD Research. This product is licensed and is not to be photocopied                                                                 Published: July 2013
  TABLE OF CONTENTS



LIST OF FIGURES

Figure 1: Global Medical Devices Industry: Revenue Growth Optimism (%), 2010–2013 .................................................................................... 20
Figure 2: Global Medical Devices Industry: Revenue Growth Optimism by Company (%), 2010–2013 ............................................................... 22
Figure 3: Global Medical Devices Industry: Revenue Growth Optimism by Region (%), 2013 ............................................................................. 24
Figure 4: Global Medical Devices Industry: Revenue Growth Optimism by Turnover (%), 2013 .......................................................................... 25
Figure 5: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Buyer Respondents), 2013 ................................. 28
Figure 6: Global Medical Devices Industry: Key Expected Changes In Business Structure (% Supplier Respondents), 2013 ............................. 29
Figure 7: Global Medical Devices Industry: Change in Leading Company Strategies by Buyers (%), 2013 ......................................................... 31
Figure 8: Global Medical Devices Industry: Change in Leading Company Strategies by Suppliers (%), 2013 ..................................................... 33
Figure 9: Global Medical Devices Industry: Change in Leading Company Strategies by Company Turnover (%), 2013 ...................................... 35
Figure 10: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Buyers, 2010–2013 ............................................. 37
Figure 11: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Suppliers, 2010–2013 ......................................... 39
Figure 12: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Region, 2013 ...................................................... 40
Figure 13: Global Medical Devices Industry: Merger and Acquisition Activity Expectations by Company Turnover, 2013 ................................... 41
Figure 14: Global Medical Devices Industry: Expand geographical reach vs. M&A activity projections, 2013 ...................................................... 42
Figure 15: Global Medical Devices Industry: Capital Expenditure Estimation by Buyers (%), 2013 ..................................................................... 44
Figure 16: Global Medical Devices Industry: Capital Expenditure Estimation by Suppliers (%), 2013 ................................................................. 46
Figure 17: Global Medical Devices Industry: Capital Expenditure Estimation by Region (%), 2013 ..................................................................... 47
Figure 18: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Company Type (%), 2013 .................................. 49
Figure 19: Global Medical Devices Industry: Planned Change in Staff Recruitment Activity by Region (%), 2013 ............................................... 50
Figure 20: Global Medical Devices Industry: Top Ten Growth Regions, 2013 ..................................................................................................... 52
Figure 21: Global Medical Devices Industry: Top Five Emerging Markets, 2014 ................................................................................................. 53
Figure 22: Global Medical Devices Industry: Demand in Emerging Markets (% Buyer Respondents), 2013........................................................ 56
Figure 23: Global Medical Devices Industry: Demand in Emerging Markets (% Supplier Respondents), 2013 .................................................... 57
Figure 24: Global Medical Devices Industry: Demand in Emerging Markets by Region (%), 2013....................................................................... 58
Figure 25: Global Medical Devices Industry: Top Five Developed Regions by Growth , 2013 ............................................................................. 60
Figure 26: Global Medical Devices Industry: Growth Expectations in Developed Countries by Buyers (%), 2013 ............................................... 62
Figure 27: Global Medical Devices Industry: Growth Expectations in Developed Countries by Suppliers (%), 2013 ........................................... 64
Figure 28: Global Medical Devices Industry: Growth Expectations in Developed Countries by Region (%), 2013 ............................................... 65
Figure 29: Global Medical Devices: Leading Business Concerns (%), 2010–2013 .............................................................................................. 69
Figure 30: Global Medical Devices: Industry Top Five Leading Business Concerns (%), 2013–2013.................................................................. 70
Figure 31: Global Medical Devices Industry: Leading Business Concerns by Company Type (%), 2013 ............................................................. 71
Figure 32: Global Medical Devices Industry: Securing Buyer Business, Buyer Responses (%), 2013 ................................................................. 76
Figure 33: Global Medical Devices Industry: Securing Buyer Business, Buyer vs. Supplier Responses (%), 2013 .............................................. 77
Figure 34: Global Medical Devices Industry: Securing Buyer Business by Company Turnover (%), 2013 ........................................................... 80
Figure 35: Global Medical Devices Industry: Securing Buyer Business by Purchasing Decision Authority (%), 2013 .......................................... 82
Figure 36: Global Medical Devices Industry Suppliers: Annual Marketing Budgets (%), 2010–2013 ................................................................... 85
Figure 37: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Region (%), 2013 ............................................................ 86
Figure 38: Global Medical Devices Industry Suppliers: Annual Marketing Budgets by Company Turnover (%), 2013 ......................................... 87
Figure 39: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure (%), 2010–2013 .......................................... 89
Figure 40: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Region (%), 2013 ........................ 91
Figure 41: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Company Turnover (%), 2013 ..... 93
Figure 42: Global Medical Devices Industry Suppliers: Planned change in Marketing Expenditure Levels by Revenue Growth Expectations (%),
2013 ................................................................................................................................................................................................................... 94
Figure 43: Global Medical Devices Industry Suppliers: Planned Change in Marketing Expenditure Levels by Decision Making Authority (%), 2013
........................................................................................................................................................................................................................... 96
Figure 44: Global Medical Devices Industry Suppliers: Future Investment in Media Channels (%), 2013 ............................................................ 99
Figure 45: Global Medical Devices Industry Suppliers: Future Investment in Media Channels by Region (% ‘Increase’), 2013 ..........................100
Figure 46: Global Medical Devices Industry Suppliers: Future Investment in Media Channels by Turnover (% ‘increase’), 2013 .......................101
Figure 47: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales (%), 2013 .................................................104
Figure 48: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Region (%), 2013 .................................106
Figure 49: Global Medical Devices Industry Suppliers: Planned Investment in Marketing and Sales by Company Turnover (%), 2013 ..............108
Figure 50: Global Medical Devices Industry Suppliers: Key Marketing Aims (%), 2013 ......................................................................................111
Figure 51: Global Medical Devices Industry Suppliers: Key Marketing Aims by Region (% ‘very important’ and ‘important’ responses), 2013 ...112
Figure 52: Global Medical Devices Industry Suppliers: Key Marketing Aims by Company Turnover (% ‘very important’ and ‘important’
responses), 2013...............................................................................................................................................................................................113
Figure 53: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies (%), 2013 ......................................................116
Figure 54: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Region (%), 2013 .....................................118


Global Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales
                                                                                                                                                                                                                     Page 5
Strategies in the Global Medical Devices Industry

© ICD Research. This product is licensed and is not to be photocopied                                                                                                                           Published: July 2013
 TABLE OF CONTENTS


Figure 55: Global Medical Devices Industry Suppliers: Key Amendments to Marketing Agencies by Company Turnover (%), 2013 ..................120
Figure 56: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency (%), 2013 .........................................122
Figure 57: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency by Region (%), 2013 ........................123
Figure 58: Global Medical Devices Industry Suppliers: Critical Factors for Choosing a Marketing Agency by Company Turnover(%), 2013 ......124




Global Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales
                                                                                                                                                       Page 6
Strategies in the Global Medical Devices Industry

© ICD Research. This product is licensed and is not to be photocopied                                                                   Published: July 2013
  TABLE OF CONTENTS



LIST OF TABLES

Table 1: Total Global Medical Devices Industry Survey Respondents by Company Type, 2013 ......................................................................... 12
Table 2: Global Medical Devices Industry Buyer Respondents by Job Role (%), 2013 ....................................................................................... 12
Table 3: Global Medical Devices Industry Buyer Respondents by Global Company Turnover (%), 2013 ............................................................ 13
Table 4: Global Medical Devices Industry Buyer Respondents by Region (%), 2013 .......................................................................................... 13
Table 5: Global Medical Devices Industry Supplier Respondents by Job Role (%), 2013 .................................................................................... 14
Table 6: Global Medical Devices Industry Supplier Respondents by Global Turnover (%), 2013 ........................................................................ 14
Table 7: Global Medical Devices Industry Supplier Respondents by Region (%), 2013 ......................................................
				
DOCUMENT INFO
Description: Product Synopsis “Medical Devices Survey 2013–2014: Market Trends, Marketing Spend and Sales Strategies in the Global Medical Devices Industry” is a new report by Canadean that analyzes how medical devices industry supplier companies’ media spend, marketing and sales strategies and practices, and business planning are set to change in 2013–2014. Additionally, this report presents comparative analysis between four years of survey results (wherever applicable). This report provides the current size of the marketing and advertising budgets of global medical devices industry suppliers and how their spending will change, providing an insight into global marketing behaviour. In addition, the report identifies future growth of global medical devices industry buyers and suppliers, and M&A activity. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type, and size. Introduction and Landscape Why was the report written? This report is the result of an extensive survey drawn from Canadean’s exclusive panel of leading medical devices industry companies. The report provides data and analysis on global medical devices industry suppliers’ media spend, marketing and sales strategies and practices, and business planning within the global medical devices industry. This report includes key topics such as media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges, and sales tactics of leading suppliers within the global medical devices industry. The report also identifies global medical devices industry buyers’ and suppliers’ future growth, M&A, and investment expectations. What is the current market landscape and what is changing? Executives from the global medical device industry anticipate an increase in consolidation, with 55
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With emphasis on Insight, Consultancy and Delivery, iCD Research is a full-service, online market research agency. iCD Research is able to take advantage of all of the efficiencies and benefits that the Internet brings to offer proven research methodologies with fast turnaround and accurate results. iCD Research specialises in qualitative research for large finance, media, retail and entertainment clients. Market leaders in online focus groups, iCD Research has unleashed the full scale of the Internet to run focus groups across the globe for its major institutional clients. Utilising its sister organisation, The iD Factor, iCD Research also delivers strong quantitative research, ranging from ongoing consumer confidence studies through to consumer surveys throughout Europe and Asia. With its roots firmly in research, iCD Research doesn’t limit itself to only utilising online methods as the philosophy at the company is to match the methodology to the respondent. Yet the scale and speed of online research give iCD Research a cutting edge that has lead to tremendous, triple-figure percentage growth over the past two years. iCD Research is headquartered in London, with operational offices in the US and Australia to ensure that it is offering an unparalleled 24 hour service to its clients.