Medical Device Marketing Excellence: Optimizing Group Structure and Operations

Industries Profiled:
Medical Device; Science; Health Care; Orthopaedics; Biopharmaceutical; Pharmaceutical; Diagnostic; Medical; Biotech; Research; Technology


Companies Profiled:
Stryker; Edward Lifesciences; Medtronic; CareFusion; Zimmer; Thermo Fisher Scientific; Ethicon; Baxa; Johnson & Johnson; Nasiff Associates; Inc; Baxter International; MCS; Covidien; BioPro; Boston Scientific; IRIS

Study Snapshot

The report is based on a survey of 15 marketing leaders at 15 medical device companies, with a wide variety of portfolios.

Also, three deep-dive executive interviews were conducted from leaders at large medical device companies to collect qualitative insights.

Sample Key Findings

Medical Device Revenue: For the large medical device segment in this study, average revenue exceeds $5B, 55% of which comes from sales in the US. Average revenue for companies in the emerging medical device segment was 67M, with 82% from US sales.

• Staffing Levels: Companies in the emerging medical device segment devote a much higher percentage of their total company headcount to marketing operations (21% on average) compared to large medical device companies in the study (who devote just 4% of total headcount on their marketing operations).

• Marketing Leadership: 100% of the emerging medical device companies have Chief Marketing Officers on staff, compared to only 44% of the large medical device company group.

• Headcount Spend: The large medical device companies, on average, spend 40% of their marketing budget for headcount related expenses (50% for emerging medical device companies). The headcount investment per FTE averages near $250,000 for large medical device companies.