【EXPERT Q&A】How does the medical device industry develop new channels and new markets under the normalization of collective mining?

November 27, 2024  Source: drugdu 102

Drugdu.com expert's response:

In the context of normalized centralized procurement, the medical device industry faces a new market environment and competitive landscape. To explore new channels and markets, enterprises can proceed from the following aspects:

Ⅰ. Optimize Resource Allocation to Enhance Product Competitiveness

Focus on Innovative Research and Development: Medical device enterprises should increase investment in innovative research and development to launch products with differentiated competitive advantages, thereby avoiding the risks associated with centralized procurement of homogeneous products. Through innovation, enterprises can open up new market segments, meet the needs of specific patients, and thus obtain higher market shares and profit margins.

Diversify Product Lines: Expand the industry chain and enhance risk resistance capabilities with a multi-product portfolio. Enterprises can achieve seamless integration of the industry chain by acquiring upstream and downstream related enterprises, thereby enhancing product competitiveness and creating a synergistic effect.

Ⅱ. Leverage Centralized Procurement Platforms to Expand Sales Channels

Harness the Power of Centralized Procurement Networks: Although centralized procurement may lead to price reductions for some products, enterprises can leverage these platforms to expand their sales networks and empower their products. Through centralized procurement, enterprises can more quickly enter medical institutions and capture market share.

Strengthen Cooperation with Medical Institutions: Establish long-term and stable cooperative relationships with medical institutions by providing customized solutions and high-quality services to enhance customer loyalty.

III. Digital Marketing to Enhance Brand Influence

Expand Online Channels: Utilize internet platforms (such as WeChat Official Accounts, WeChat Enterprise, etc.) for product promotion and customer communication. Publish product information, industry news, and user cases on their own websites, e-commerce platforms, or social media to increase brand exposure and user engagement.

Data Analysis and Precision Marketing: By collecting and analyzing data from exhibitions, market events, etc., enterprises can understand customer interests and needs, optimizing display content and strategies. This data can also provide important references for future market positioning and product development.

Ⅳ. Internationalization Strategies to Explore Overseas Markets

Enhance Product Quality and Compliance: Before going overseas, enterprises should ensure that product quality and cost are competitive while complying with international market regulations and standards. By continuously improving product quality and stability, enterprises can gradually enter overseas regions with easier access.

Establish Overseas Brand Channels: Enhance brand recognition and influence in overseas markets through mergers and acquisitions of overseas enterprises, establishing overseas sales networks, etc. Meanwhile, building trust relationships with overseas distributors and customers is crucial for expanding overseas markets.

Integrate International Resources: Large enterprises can gather resources such as varieties, technologies, and channels through equity participation or holdings, striving to develop into advantageous groups or leading enterprises with core competitiveness. Small and medium-sized enterprises can focus the efforts of multiple enterprises on research and development and market expansion by forming strategic alliances.

Ⅴ. Pay Attention to Policy Dynamics and Flexibly Respond to Market Changes

Closely Monitor Centralized Procurement Policies: Enterprises should closely monitor dynamic changes in national and local centralized procurement policies, promptly adjusting product and market strategies.

Actively Participate in Centralized Procurement Projects: By actively participating in centralized procurement projects, enterprises can understand market demand and competitive landscapes, providing strong support for future market expansion.

In summary, to explore new channels and markets in the medical device industry under normalized centralized procurement, enterprises need to proceed from multiple aspects, including optimizing resource allocation, leveraging centralized procurement platforms, digital marketing, internationalization strategies, and paying attention to policy dynamics. By implementing these measures, enterprises can stand out in the fiercely competitive market and achieve sustainable development.

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