SOURCE: Cutting Edge Information

Cutting Edge Information

June 04, 2015 09:30 ET

Medical Device Classification Influences Firms' Interactions With External Partners

A Recent Study by Cutting Edge Information Finds That Surveyed Firms Are More Likely to Develop Class 2 Medical Devices via Joint Ventures and Class 3 Devices Through Acquisitions

RESEARCH TRIANGLE PARK, NC--(Marketwired - June 04, 2015) - Medical device manufacturers require significant human and financial resources to successfully launch brands in the crowded US market. While many firms opt to complete device development and commercialization entirely in-house, others look to partnerships or acquisitions to move their brands from the laboratory into doctor or patient hands.

A new report from primary intelligence provider Cutting Edge Information found that most surveyed device manufacturers (71%) prefer to keep product development in-house. However, of those products that do draw on outside resources, device classification impacts these interactions. Among surveyed companies supporting Class 2 devices, 23% report developing these products via joint ventures or collaborations with other stakeholders; only 12% report development via acquisitions. For surveyed firms that support Class 3 devices, a larger percentage looks to acquisitions (19%) over collaboration (6%).

"Medical device companies have to draw on a number of resources to complete product development and commercialization," said Victoria Cavicchi, research analyst at Cutting Edge Information. "For many organizations, these resources -- whether technological or personnel expertise -- may already be in-house. Other manufacturers may look outside to drive development -- either to partnerships for commercializing promising brands or acquisitions to fill in product portfolio gaps."

Surveyed Top 10 device companies are more likely to support products via collaboration or acquisitions, likely because they have the funds to do so. Of surveyed Top 10 firms, 80% supported brand development via external means-significantly higher than the overall 29%. "Medical Device Development: Benchmarking Early-Stage Product Management and Promotion," available at http://www.cuttingedgeinfo.com/research/marketing/medical-devices/, explores the resources and best practices necessary to support new product planning and commercialization for US-based medical device launches. This report includes:

  • Profiles of 11 medical device firms and their products, highlighting human and financial resources supporting development and commercialization, product development timelines and expected commercial success
  • Data on anticipated US commercial success, including market size, market share and competition levels
  • Commercial board staffing benchmarks as well as best practices for integrating stakeholders across multiple firms and communicating throughout the development process
  • Expert insights on selecting the best regulatory pathways for emerging products, implementing clinical trials and partnering to support development

For more information about medical devices and US-based commercialization, please visit http://www.cuttingedgeinfo.com/research/marketing/medical-devices/.

Contact Information

  • CONTACT:
    Rachel Shockley
    Marketing Team Leader
    Cutting Edge Information
    919-433-0211