As with most other markets within the healthcare space, medical and surgical devices and consumables have been subject to changing dynamics. Some key changes have included global-access changes, increasing pricing pressure and continuously evolving technologies. Companies in this space have been forced to respond strategically to maintain position and growth. L.E.K. has completed a number of engagements for clients in the medical and surgical devices and consumables space addressing these key issues. Our clients range from large multinational companies to niche players. Our expertise has allowed us to help these clients address their most critical strategic issues and has allowed them to reach their goals.
Given our extensive experience within this sector and across the broader pharmaceutical and healthcare markets, we are able to assist our clients in answering their most critical questions, including the following:
- How can we leverage our existing portfolio to gain share in underpenetrated geographies?
- What are the key issues we will face in launching our novel device and treatment method? How do we address these issues to ensure a successful launch?
Examples of Our Work
To learn more about how we help our clients create value, please refer to these case examples:
- Our client, a global orthopaedic-products company, was a market leader in external fixation products in Europe. However, the internal-fixation segment also appeared attractive, and the client was hoping to increase its relatively weaker position in this segment. L.E.K. developed a comprehensive industry assessment and 3-year company strategy aligned with headquarters requirements and core competencies in order to grow in the internal fixation segment.
- Market opportunity assessment for endovascular therapies: Our client, a leading medical-device company, has a very strong position in medical devices used for treating coronary arteries, including stents. These technologies have historically been used very little in peripheral arteries (non-coronary), but advancing technology makes treating them more effective. Our client was interested in potentially entering these markets, and asked L.E.K. to help determine the portfolio of products that would maximize the non-coronary artery treatment opportunity. L.E.K. determined that the market was expected to experience rapid growth, with new technology enabling a strong pricing upside. New technologies were expected to enable a transition from a market dominated by two current technologies to a more fragmented market, representing an opportunity for our client to establish a significant footprint.
- L.E.K conducted an assessment of the reimbursement environment across Russia, China and Brazil to inform the client’s product introduction decisions. L.E.K. broadly characterized the reimbursement and pricing landscape for procedures and devices and characterized the payment systems for high-tech medical devices and associated procedures. L.E.K. distilled key barriers faced by foreign medical-device manufacturers to help the client better focus pre-launch planning efforts, and estimated market pricing for the client’s devices and associated procedures.
Please contact us at firstname.lastname@example.org for additional information.