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IVD Market Intelligence · Q4 2025

Tue, 17 Mar 2026 21:19:30 GMT

By James Garvin, Senior Consultant at The Marketech Group | March 2026 | Estimated read time: 8 minutes

Three Forces Reshaping Clinical Diagnostics in Q4 2025

The Q4 2025 earnings cycle marked a strategic reset for the global in vitro diagnostics (IVD) industry. Two major transactions reshaped the competitive landscape: TPG’s acquisition of Hologic and Water’s purchase of the diagnostics division from BD. These moves signal a broader realignment across the sector as companies sharpen their focus on higher-growth segments and reposition portfolios for the next phase of diagnostics innovation.

At the same time, three structural forces are redefining how value is created in the industry. China’s procurement reforms are compressing margins across core testing markets , growth is shifting toward high-value specialty assays rather than new instrument placements , and a rapidly intensifying race in rapid antimicrobial susceptibility testing (AST) is reshaping the microbiology competitive landscape.

An analysis of eleven leading diagnostics companies’ Q4 results reveals how these forces are beginning to separate strategic winners from laggards heading into 2026.

To better understand how the industry’s leading players are navigating this transition, we created a Q4 2025 IVD Performance Scorecard evaluating eleven major diagnostics companies across three strategic dimensions: revenue momentum, innovation velocity, and installed base strength . The scorecard combines publicly reported earnings data with qualitative indicators such as platform expansion, assay menu growth, and competitive positioning to highlight which companies are building durable competitive advantage in the evolving diagnostics market.

Market Overview

What HCPs Expect from Vendors

In our recent imagePRO™ Market Pulse survey , The MarkeTech Group asked imaging directors about their expectations of MedTech vendors on environmental initiatives.

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

The Challenge:

To measure the willingness to adopt new shelf-pack and case-pack options that decrease waste at the end-user site, and to understand the potential impact of the new packaging on current workflow and practices.

The Solution:

An online self-administered survey was completed by purchasers and clinical users from healthcare institutions in the UK, Germany, and India. After questions on current practices and demographics, new packaging options were presented to gather respondents’ feedback. Preferred case-pack and shelf-pack options were asked along with the necessary type of information to display.

The Impact:

Provided solid recommendations on the best packaging strategy to adopt to minimize waste at end-user sites while ensuring high level of adoption.

Part 1: The Three Forces Reshaping the IVD Market

Force 1: The Return of the Routine

After three years of pandemic-driven volatility, the IVD market has found its footing again, but it looks different than 2019. Growth in Q4 2025 is anchored by routine hospital testing, chronic disease monitoring, and a now-predictable respiratory baseline. The windfall of COVID diagnostic demand is gone, replaced by something more durable: steady volume in immunology, oncology, transplant monitoring, and chronic disease panels.

Specialty diagnostics — oncology companion diagnostics, neurodegenerative disease markers, transplant monitoring — are outperforming general diagnostics across nearly every platform reviewed. For commercial teams, this means the messaging shift from "reliability and throughput" to "clinical utility and patient pathway value" is not aspirational — it is already underway in the field.

Force 2: The China Vacuum — Quantifying a $1.1B+ Headwind

The single most consequential structural factor in Q4 2025 IVD results is China's Volume-Based Procurement (VBP) policies. The scale of impact is striking:

Roche Diagnostics reported an absolute annual revenue headwind of approximately $666 million USD (CHF 579 million) from China VBP pricing reforms. Excluding China, global diagnostics grew +7%.
Abbott Laboratories quantified a $400 to $500 million annual China VBP headwind. Core Lab Diagnostics achieved three consecutive quarters of acceleration (+5.3% reported in Q4).
Combined, these two companies alone are absorbing a ~$1.1 billion annual revenue gap from a single market.

The implications for IVD commercial strategy are direct : companies under this margin pressure must urgently recoup profitability in the United States and Europe through premium novel assays, expanded menus, and higher-value testing categories .

Primary Research Question

What is the maximum price premium US and EMEA lab directors are willing to absorb for novel, high-value assays — before test volumes begin to decline?

Force 3: Menu Wars Replace Box Wars

During the pandemic, the IVD industry competed on platform placement — getting instruments into labs, clinics, and hospitals at scale. That wave has crested.

In Q4 2025, the competitive battleground has definitively shifted from instrument placements to assay menu expansion. Capital equipment budgets are constrained. Laboratories resist buying new boxes. QuidelOrtho's Labs business grew +7% in Q4, with instrument revenue flat and growth driven entirely by consumable pull-through — a pattern repeated across the industry.

Simultaneously, clinical mass spectrometry automation is creating an entirely new regulated IVD category. This is a ~$3.45 billion USD market currently served primarily by manual laboratory-developed tests (LDTs). Roche (cobas i 601), Thermo Fisher, and others are pushing to bring automated, regulated alternatives to market.

Part 2: Segment-by-Segment — Where the Growth Is

Core Lab: The Giants Rebuild Under Pressure

Roche Diagnostics achieved the most dramatic sequential turnaround — from flat in Q3 to +6% CER in Q4, with +10% growth in Core Lab excluding China. The forthcoming cobas i 601 Mass Spec (CE marked) automating therapeutic drug monitoring and vitamin D testing represents their most significant platform innovation for a US launch in 2026. The Elecsys pTau217 and NfL assays position Roche squarely in the high-value Alzheimer's and neurology diagnostics category.

Abbott Laboratories is executing one of the most consequential M&A moves in IVD in years: the pending acquisition of Exact Sciences will add a high-growth cancer screening vertical to Abbott's traditional immunoassay and chemistry base. Three consecutive quarters of Core Lab acceleration provide the financial runway to pursue this integration

Danaher (Beckman Coulter) achieved six consecutive quarters of mid-single-digit or better Core Lab growth, with immunoassay growing at high-single-digit rates. The DXi9000 expansion into cardiac, blood virus, and neurodegenerative disease markers is the platform differentiation bet for 2026.

Siemens Healthineers represents the most significant strategic watch in Core Lab. With Q4 Diagnostics revenue down -3.1%, the company has "verticalized" its Diagnostics division to run independently — language management tied explicitly to evaluating "all strategic optionality." With Atellica now driving 70% of core lab revenue in the Americas, competitive displacement research is urgently needed.

Molecular Diagnostics: The Post-COVID Transition Takes Shape

Danaher (Cepheid) reported that core non-respiratory test menu grew low double-digits, with sexual health testing up +30% in Q4. A newly FDA-cleared GI Multiplex PCR panel is in global rollout. The 2026 outlook centers on approximately $1.8B in respiratory revenue alongside a growing non-respiratory base.

Hologic announced it is being taken private by TPG in an $18 billion transaction leveraging its now 3,400+ global Panther installed base newer high-throughput vaginitis testing (BV/CV/TV). Hologic’s management noted the company is "only in the middle innings of realizing the total opportunity." Molecular Diagnostics grew +6.7% reported (+11% excluding COVID).

bioMérieux's SPOTFIRE platform is the single most explosive growth story in molecular diagnostics this quarter: +84% revenue growth in Q4, 6,400 total units installed globally, with approximately 900 new units in Q4 alone and reagent sales up +56%.

Qiagen delivered +10% CER diagnostic growth, with QIAstat-Dx expected to scale from $109M (FY2024) to approximately $130M (FY2025). QuantiFERON delivered +14% CER in Q4, yet 60% of the latent TB testing market still uses traditional skin tests — a massive unconverted opportunity.

Specialty Diagnostics: Two New IVD Categories Emerge

Thermo Fisher achieved FDA 510(k) clearance for Exens — the first fully automated platform for multiple myeloma diagnosis — alongside an FDA-cleared NSCLC companion diagnostic. An NVIDIA AI partnership for lab automation and diagnostic decision support is underway.

Bio-Rad is achieving something genuinely novel: the migration of digital PCR (ddPCR) from Research Use Only (RUO) to regulated IVD, with the QX600 platform becoming the first digital PCR system to make this transition. Two strategic IVD partnerships (Gencurix and Biodesix) anchor the commercial expansion strategy.

�� Download a copy of Q4 2025 IVD Market Intelligence Report

Part 3: The BD Diagnostics Exit — The Decade's Biggest Displacement Opportunity

The most consequential competitive event in IVD market structure in Q4 2025 is Becton Dickinson's divestiture of its Diagnostics segment to Waters Corporation, completed at an estimated $3.5 billion.

BD Diagnostics reported pre-exit Q4 revenues down -9.6%, with the Rapid Diagnostics segment declining -17.8% as COVID antigen test volumes continued their post-pandemic normalization. Full-year Diagnostics revenue is estimated at approximately $4.2 billion.

Waters Corporation (NYSE: WAT), historically a scientific instruments and HPLC/mass spectrometry vendor, has made its largest-ever acquisition and its first entry into regulated clinical diagnostics. This creates what we assess as one of the largest competitive displacement opportunities in IVD in a decade:

Customers face legitimate uncertainty about long-term menu innovation, support commitments, and R&D investment under Waters
The primary beneficiaries in Core Lab and Microbiology are bioMérieux, Roche, Danaher (Beckman Coulter), and Abbott
In Rapid Diagnostics and POC, QuidelOrtho and Abbott POC are best positioned to absorb displaced customers

Part 4: The 2026 IVD Research Agenda — 14 Questions Requiring Primary VOC Data

These fourteen research questions represent the most commercially consequential unknowns facing diagnostics companies heading into 2026; questions that cannot be answered only through secondary data alone.

Conclusion: The Intelligence Gap Is Strategic

The in vitro diagnostics industry enters 2026 with three of its largest players managing China-driven revenue headwinds, the most significant ownership transition in its Core Lab segment in a decade, and a post-pandemic recalibration that has fundamentally shifted where competitive advantage is built.

The companies that will capture disproportionate share in this environment are not those with the most comprehensive earnings analysis. They are those that understand — at the level of specific clinical stakeholders, specific workflows, and specific purchasing triggers — what lab directors actually want, and what will make them act.

Secondary data is essential context. Primary VOC research is the competitive edge.

Work with The Marketech Group

The Marketech Group is a MedTech marketing research consultancy specializing in the IVD and medical technology industries. We design and execute primary research that translates market signals into actionable marketing & commercial intelligence.

Our 2026 IVD research capabilities include:

Global VOC Studies — Structured interviews and surveys with lab directors, clinical scientists, and procurement leaders across US, EMEA, and APAC
Pricing Research — Conjoint analysis, willingness-to-pay, and price elasticity studies for novel assay and platform launches
Platform Displacement Research — Identifying the specific triggers that cause lab directors to switch platforms
Sample Journey & Workflow Mapping — Ethnographic research into clinical diagnostic workflows to identify unmet needs
Concept & Messaging Optimization — Pre-launch testing of clinical claims and value propositions with target buyer segments
Competitive Wargaming — Structured research-based competitive positioning studies for platform launch strategy

If your team is evaluating a platform launch, menu expansion, or competitive displacement strategy in 2026, these questions are not theoretical — they are commercial decisions.

The Marketech Group designs VOC research to answer them before launch.

The Marketech Group publishes quarterly IVD Market Intelligence Reports synthesizing earnings data from the industry's leading diagnostic companies. This analysis covers Q4 2025 results reported in January–February 2026.

MICI Q4 2025

Tue, 06 Jan 2026 15:25:21 GMT

2025 MICI Q4 Shows S mall Increase in Overall Confidence from Q3 2025

The Medical Imaging Confidence Index (MICI) Q4 2025 r esults show overall trends continuing. For hospitals with under 100 beds, confidence in reimbursement from Medicare grew significantly over Q3 2025, but still remains low overall. Conversely, hospitals with 100 or more beds saw confidence in reimbursement decrease significantly, with these hospitals expressing very low confidence.

Co-developed with AHRA, MICI benchmarks the business climate in imaging with quarterly findings about current and future trends for medical imaging reimbursement, revenue, cost, purchasing, and growth. If you’re ready to use detailed MICI report findings to improve your imaging forecasting process, please contact us to learn more.

The TMTG Minute - ESG: A New Standard of Healthcare

Thu, 28 Aug 2025 19:35:49 GMT

Written by: The Marketech Group

ESG: A New Standard of Healthcare

Editorial

Environmental, Social, and Governance (ESG) initiatives have moved to the forefront of healthcare, shifting from aspirational goals to measurable business metrics. Hospitals and vendors alike are under pressure to improve sustainability, equity, and governance while balancing rising costs and operational challenges.

In this edition of The Minute, TMTG explores how ESG is shaping expectations and practices across the industry. Imaging directors from our imagePRO™ panel highlight the importance of sustainable design, energy-efficient equipment, and waste reduction. In our interview with Becky Allen, Vice President of Operations at UC Health, we hear how ESG has become embedded in institutional strategy despite barriers like legacy systems and limited budgets.

As ESG becomes a must-have across healthcare, vendors that lead with innovation and accountability will be best positioned to drive meaningful progress and long-term impact.

Market Overview

What HCPs Expect from Vendors

In our recent imagePRO™ Market Pulse survey , The MarkeTech Group asked imaging directors about their expectations of MedTech vendors on environmental initiatives.

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

The Challenge:

The Solution:

The Impact:

Provided solid recommendations on the best packaging strategy to adopt to minimize waste at end-user sites while ensuring high level of adoption.

Market Overview

What HCPs Expect from Vendors

In our recent imagePRO™ Market Pulse survey , The MarkeTech Group asked imaging directors about their expectations of MedTech vendors on environmental initiatives.

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

The Challenge:

The Solution:

The Impact:

Provided solid recommendations on the best packaging strategy to adopt to minimize waste at end-user sites while ensuring high level of adoption.

INTERVIEW OF THE SEMESTER

Becky Allen

Vice President Operations- Ancillary Services, UC Health / Site Leader at DDC

Interviewer: Dr. Christian Renaudin, TMTG Managing Partner and CEO

CR: From your perspective, how have ESG (Environmental, Social, and Governance) initiatives been considered at US healthcare institutions in the past 5 years?

BA: High-level ESG initiatives have gained significant traction over the last five years. Across healthcare institutions there’s a growing emphasis on accountability, sustainability, equity and efficiency over the past five years - driven by rising expectations.

On the environmental side, energy efficiency is top of mind — from automated systems that power down when not in use to a greater awareness of carbon footprints. For example, Kaiser Permanente has been a leader in this space. Environmental responsibility is now seen not just as operationally smart - but also as a public health imperative.

From a social standpoint, there has been a big push around diversity, inclusion, and accessibility (DIA). These initiatives improve organizations and are important for building patient trust. Patients can feel fearful when providers don’t look like them or sound like them — it’s a real issue. However, I’ve noticed a slowdown in momentum since January, likely due to changes in federal initiatives.

On governance, institutions like ours used to operate in silos, but over the past two years, we’ve begun to function more as a cohesive enterprise.

Overall, ESG moved from a "nice to have" to a "must have", it is now being measured, funded, and embedded, especially at academic and multi-hospital systems.

CR: What are the top challenges when integrating ESG principles in a US healthcare institution?

BA: As with most things in healthcare, the biggest challenge is funding. Hospitals operate on very thin margins. ESG initiatives often lack designated budget lines, making sustained implementation difficult.

Legacy systems are another hurdle (like PACS); they weren’t built with ESG in mind and can be difficult to overhaul.

Other challenges include data and measurements gaps, workforce bandwidth.

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ON THE HORIZON

ESG at the Forefront

Facts

Major health systems (e.g., Kaiser Permanente, Cleveland Clinic) have made public commitments to carbon neutrality and sustainability targets within the past five years, often outpacing federal mandates. ⁽¹⁾
Burnout rates among healthcare professionals have reached historic highs, projected to contribute to significant staffing shortages by 2030 if not addressed through social and well-being programs. ⁽²⁾
Mobile imaging and telehealth programs are expanding access, helping reduce patient travel-related emissions and bridging gaps in healthcare equity, particularly in underserved communities. ⁽³⁾

At Stake!

Inconsistent carbon emissions and energy tracking across U.S. hospitals limits transparency and accountability for sustainability progress. ⁽⁴⁾
Legacy infrastructure and equipment pose a major challenge to decarbonizing U.S. healthcare, as retrofits and updates are expensive and technically demanding. ⁽⁵⁾
Data gaps and the absence of standardized metrics make it difficult to compare or scale successful ESG practices across healthcare systems. ⁽⁴⁾

So What?

ESG is becoming a core part of healthcare operations, moving from voluntary to essential business imperatives tied to financial, regulatory, and reputational risks. ⁽⁵⁾
Environmental programs such as energy efficiency upgrades, waste reduction, and telehealth not only curb emissions but also improve care access and reduce operational costs. ⁽⁴⁾
Social initiatives addressing staff well-being and health equity strengthen patient trust, promote workforce stability, and contribute to more resilient institutions. ⁽²⁾

Source:

(1) The Road to Carbon Neutral | Kaiser Permanente. https://about.kaiserpermanente.org/expertise-and-impact/healthy-communities/our-programs-and-partnerships/environmental-stewardship/the-road-to-carbon-neutral

(2) Prevalence of burnout among healthcare professionals: a survey at multiple US health systems. https://pmc.ncbi.nlm.nih.gov/articles/PMC11074248/

(3) Mobile Imaging Services Market to Hit US$ 30 Billion by 2034. https://media.market.us/mobile-imaging-services-market-news/

(4) Emissions Disclosures and Energy Use Reporting by Hospitals in the United States. https://nam.edu/perspectives/emissions-disclosures-and-energy-use-reporting-by-hospitals-in-the-united-states/

(5) Key Actions to Reduce Greenhouse Gas Emissions by U.S. Hospitals and Health Systems. https://nam.edu/product/key-actions-to-reduce-greenhouse-gas-emissions-by-u-s-hospitals-and-health-systems/

MICI Q3 2025

Mon, 11 Aug 2025 14:03:47 GMT

2025 MICI Q3 Shows Less Confidence in Reimbursement and Capital Access

The Medical Imaging Confidence Index (MICI) Q3 2025 results show all hospital bed sizes have low confidence that they will receive adequate reimbursement, but high or very high confidence in both monthly volume growth and growth as a profit center . Overall confidence sees a slight decrease as compared to Q2 2025.

ImagePRO Panel speaks on the impact of tariffs.

Fri, 11 Jul 2025 17:41:28 GMT

With ongoing shifts in global trade policy, healthcare providers are facing new questions about the potential downstream effects on capital equipment and operations. For medical imaging departments in particular, tariffs could introduce uncertainty in planning, budgeting, and investment decisions.

At The MarkeTech Group, we wanted to understand whether and how these economic changes might influence the field, we look at three areas of concern: overall sentiment toward tariffs, anticipated changes to capital budgets, and possible strategies departments may consider in response.

96 of our imagePRO™ panel members were asked three questions to evaluate their perception regarding the impact of tariffs.

Capital equipment and IT purchases are always a challenge, with hospitals and health systems looking to modernize and improve patient care. With current high-cost financing options such as bank loans, retained earnings, and grants, organizations must strategically align investments with their clinical and operational goals to ensure sustainability.

Mixed Reactions to 2025 Tariffs Amid Broader Capital Investment Pressures

Concern over the 2025 tariffs is present, but varies widely among radiology administrators. While only 4% report being extremely concerned, nearly half (45%) fall into the middle categories of being concerned or very concerned. The largest group (32%) is somewhat concerned, suggesting cautious awareness rather than alarm. Notably, 19% are not at all concerned, highlighting that uncertainty around the true impact of tariffs.

High-Volume Imaging Departments Report Greatest Concern Over Tariff Risks

Institutions with 100,000 to less than 300,000 studies annually reported the lowest concern with 62% saying they are somewhat concerned. In contrast, imaging department performing 750,000 to less than 1 million studies expressed the highest level of concern with nearly 40% reporting they are either very or extremely concerned. Interestingly, the smallest-volume sites (less than 100,000 studies) also showed elevated concern, with 25% reporting being very concerned. These findings suggest that both lower and higher-volume imaging department may feel more exposed to tariff-related risks than mid-volume hospitals.

Most Imaging Departments Hold Steady on Capital Budgets Despite Tariff Uncertainty

The majority of respondents (70%) report no planned changes to their capital budgets in the next three months, suggesting a "wait and see" approach to the 2025 tariffs. However, nearly a quarter (22%) have already paused all capital spending, indicating that some departments are taking a more cautious approach. Only a small fraction (8%) report budget reductions, with just 1% seeing cuts of 50% or more. Overall, while concern exists, most imaging departments have not yet made significant budgetary shifts in response to the tariffs.

Imaging Departments Largely Hold Position, but Cost-Control Measures Emerge Amid Tariff Concerns

Nearly half (49%) of imaging departments report taking no immediate action in response to market uncertainties driven by the 2025 tariffs. However, 31% have begun implementing cost control strategies, such as hiring freezes or contract renegotiations. Smaller groups are taking more aggressive steps, with 9% adopting a comprehensive strategy similar to their COVID-19 response, and 5% each opting for decreased investment or pausing strategic initiatives. While most are currently in a holding pattern, a meaningful share is beginning to plan or act with caution.

Larger Imaging Departments More Proactive in Navigating Tariff Uncertainty

Strategies to address tariff-related uncertainty differ depending on the number of MRI technologists employed. Imaging departments with fewer than 6 MRI techs are much more likely to report taking no action (62%), compared to just 29% of those with 6 or more MRI techs. Larger imaging departments are more proactive, with 42% already implementing cost control strategies such as hiring freezes or renegotiating contracts, compared to only 22% for smaller imaging departments. Additionally, 13% of larger teams are decreasing investment, suggesting they may be more exposed to the financial pressures that tariffs could bring.

In-House vs. Agency: When to Outsource Marketing Research

Fri, 06 Jun 2025 16:04:46 GMT

Written by: The Marketech Group

Marketing research (MR ) is essential for making informed and confident business decisions at every stage of product development, from early opportunity assessment to crafting a sales strategy . In today’s competitive landscape, high-quality research enables organizations to stay aligned with customer needs, reduce strategic risk, and invest in the most promising ideas.

Many companies have made substantial investments in building capable in-house research teams. These teams often combine marketing research expertise with deep product knowledge and organizational alignment. Because they are embedded within the company, they have a strong understanding of internal dynamics, direct access to proprietary data, and close relationships with stakeholders. This allows them to provide quick-turn insights and stay closely connected to shifting business priorities.

However, even the most robust in-house teams may overlook the benefits of collaborating with an external marketing research agency. Working with an outside partner can bring objectivity, specialized expertise, and new perspectives that internal teams may not be positioned to deliver. Rather than replacing in-house capabilities, a well-timed agency partnership can enhance the depth and breadth of insight, especially when tackling complex business questions. Understanding when and how to bring in an external partner is key to optimizing your overall research strategy and ensuring you are making truly data-driven decisions.

In-House Marketing Research: Good practice, but limitations can arise

Conducting in-house market research is an important practice for keeping internal teams educated with up-to-date customer feedback. Internal research teams are often well-versed in the company’s strategic goals and can act quickly on requests. They usually require little to no ramp-up time, have access to internal data sources, and are familiar with product roadmaps and customer segments. These advantages make them especially effective for gathering rapid insights, tracking customer sentiment, and responding to ongoing business needs.

Maintaining a dedicated in-house research function also supports organizational learning over time. As internal teams accumulate institutional knowledge, they can adapt research activities to evolving priorities and generate insights that are tailored to specific product lines, customer types, or business units.

Still, despite these strengths, internal research teams are not without limitations:

Limited bandwidth : Internal teams frequently face competing demands from multiple departments. During busy seasons, they may lack the time and resources to manage several large-scale studies in parallel. This can create delays or require trade-offs between research depth and delivery speed.

Fragmented teams : Because internal researchers often wear multiple hats or support several divisions, their focus may be stretched across too many initiatives. As a result, it can be difficult to maintain consistency in research design or execution. This can reduce the reliability of results when comparing findings across projects or over time.

Lack of expertise with complex methodologies : Many internal teams are highly capable when it comes to gathering customer feedback through surveys or interviews. However, more advanced analytical methods (such as conjoint analysis, segmentation, or predictive modeling) often require specialized training. These methods are essential when answering nuanced questions about pricing, market sizing, or product adoption.

Internal biases : Even the most well-intentioned internal teams may struggle to maintain objectivity. Familiarity with internal hypotheses or stakeholder expectations can introduce subtle bias into study design, interpretation, or reporting. Without an outside perspective, research may unintentionally reinforce existing assumptions rather than challenge them.

Benefit to using an external agency

For critical business decisions where objectivity, methodological rigor, and advanced analytics are needed, partnering with an external market research agency can provide substantial value. Agencies bring a fresh, unbiased perspective and are staffed with consultants who specialize in designing and executing complex research studies. These firms often have experience across industries and can draw on a wide range of best practices to meet your specific needs.

Working with an external agency does not mean sidelining your internal team. In many cases, the two work best in tandem. The agency brings deep analytical capabilities and external validation, while the internal team ensures organizational alignment and helps drive stakeholder engagement.

Outsourcing to an external agency can deliver several distinct advantages:

Unbiased perspective : Agency researchers approach your business with fresh eyes. By combining domain expertise with independence from internal politics or assumptions, they are well-positioned to uncover unexpected insights.

Predictable cost and timing : Agencies typically operate on a project basis with well-defined scopes of work. This structure provides clarity around pricing and timelines from the outset, which supports efficient planning and project management.

Expertise: Research consultants often have advanced training in statistics, behavioral science, or data modeling. They can design studies that go beyond surface-level findings and deliver deeper insights about customer behavior, pricing elasticity, and market segmentation.

Consistent rigor : Because agencies conduct research full time, they bring a consistent level of quality and reliability to every engagement. Their reports and analyses can serve as benchmarks for future studies or as tools to guide internal decision-making.

Tools and software: Many agencies invest in proprietary tools that allow for more sophisticated analysis. These tools can include simulators for pricing and adoption, segmentation, and more.

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How to Choose Your Marketing Research Partner

Fri, 25 Apr 2025 21:58:56 GMT

Written by: The Marketech Group

7 Key Questions to Ask a Marketing Research (MR) Firm Before Hiring Them

Marketing research (MR) is a critical component in the medical technology and healthcare industries, where product development, clinical validation, and commercialization require significant capital investments and carry substantial risk. Companies must ensure they have access to accurate, reliable, and actionable data in order to develop, price, launch, and promote products effectively. This is key to maximizing both revenue potential and market impact.

Given these high stakes and the essential need for unbiased, high-quality data, many healthcare and medical technology companies choose to work with specialized marketing research consulting firms. These firms provide the expertise required to design and execute targeted research plans, generate deep insights, and support strategic decision-making across the product lifecycle.

With a crowded vendor landscape and a wide range of capabilities, it can be overwhelming to identify and select a partner that truly fits your needs.

Before making a decision, ask yourself the following SEVEN (7) essential questions to help you find the ideal marketing research firm.

1. Does the MR firm possess certifications that demonstrate their commitment to marketing research best practices and policies?

Many certifications exist to help differentiate high-quality market research agencies from those that may not follow rigorous standards. Verifying these credentials helps ensure the firm you choose follows established professional, ethical, and data quality guidelines. This is especially important when your team is relying on external partners to inform high-impact business decisions.

Two of the most recognized certifications include:

ESOMAR: Members adhere to the ICC/ESOMAR International Code on Market and Social Research . This code outlines global best practices and emphasizes ethical conduct, participant confidentiality, transparency in data handling, and integrity in reporting.
Insights Association (formerly CASRO): Members comply with IA Code of Standards . This framework is internationally respected and covers respondent rights, sampling practices, analytical rigor, and privacy policies.

Working with a certified firm gives you peace of mind that your research is being conducted responsibly and according to established norms. It also signals the firm’s commitment to quality and professionalism, which can influence everything from project planning to how your final data is interpreted and presented. to established norms. It also signals the firm’s commitment to quality and professionalism.

2. Does the MR firm staff have relevant industry expertise?

Not all research firms are knowledgeable enough to support companies in specialized industries like healthcare and medical technology. Many firms develop deep expertise in particular sectors , and it’s important to choose one with a clear track record in your space.

A research firm with experience supporting medical technology or healthcare clients will already understand the nuances of your market. They’ll know the technologies driving innovation, the types of professionals influencing purchasing decisions, and the organizational dynamics that affect adoption.

This experience is especially valuable when working with clinician audiences, technical users, or hospital-based stakeholders. Compared to industries like consumer goods or traditional tech, medical technology requires a deeper grasp of how purchasing decisions are made and who’s involved. A knowledgeable firm can help you frame questions more effectively, interpret results with the right context, and make recommendations that align with your strategic goals.

Additionally, firms that specialize in healthcare are more likely to be familiar with evolving industry trends, market consolidation, and the impact of economic or policy shifts on buying behavior. Their perspective can add depth to your research and provide valuable context for long-term planning.

3. What are the MR firm's qualitative and quantitative capabilities?

Some firms specialize in either qualitative or quantitative research, while others offer both. A firm that supports both types can provide more seamless project continuity from initial exploration to detailed validation. This allows for a more integrated approach to insight development, particularly when transitioning from early-stage concept testing to large-scale measurement.

Look for a team that offers a variety of tools, such as:

a. Qualitative research

In-depth interviews (IDIs) that allow you to dive into individual decision-makers’ thought processes.
Focus groups to explore how groups of users or stakeholders react to concepts or messaging.
Observational Fieldwork and Ethnographic studies that capture how medical technologies are used in context.
Online discussion boards that create ongoing conversations and reveal how opinions evolve over time.

b . Quantitative research

Pricing research ( Preference / Demand Modeling ) to support value-based pricing strategies and identify acceptable price ranges across customer segments.
Feature / Benefit analysis (MaxDiff analysis, conjoint) to understand which product attributes matter most and how customers make trade-offs.
Customer perception and behavioral analysis ( Segmentation , perceptual mapping, brand equity) to uncover differences across user groups, map out brand positioning, and assess how perceptions evolve over time.

The key is not just having these capabilities, but being able to apply them with precision in a healthcare setting. A firm might offer conjoint analysis, for instance, but fail to frame the attributes or levels in a way that makes sense to radiologists, infection preventionists, or lab directors. The right firm will not only execute the technical side of the research but ensure it’s grounded in the language, needs, and decision processes of your target market.

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imagePRO Market Pulse Series: Environmental, Social, and Governance initiatives in healthcare institutions

Wed, 23 Apr 2025 18:18:07 GMT

The imagePro Market Pulse (iPMP) is a series of insights on the US radiology market provided by The MarkeTech Group.

The iPMP is a custom research initiative with our imagePRO™ panel of over 350 USA hospital-based imaging directors and managers. In this series, we asked the imagePRO panel to share their perception of ESG importance, top ESG priorities in their institutions, and their expectations from vendors for ESG initiatives. All questions were single-select.

Importance of ESG Initiatives

Environmental, Social, and Governance (ESG) initiatives are currently not a high priority for many US healthcare institutions. According to 49% of imagePRO panel members, ESG initiatives are not at all or somewhat important within their institutions. This sentiment is echoed in purchasing decisions for medical imaging solutions, where 57% estimate that vendors' ESG initiatives hold little to no importance.

ESG initiatives appear to be valued more at the institutional level than in specific purchasing decisions. While 21% of imagePRO panel members find ESG initiatives very or extremely important for their institutions overall, this figure drops to only 13% when considering medical imaging purchases.

These results suggest that ESG initiatives are not yet deeply integrated into the thinking of Healthcare Professionals. This also indicates a top-down approach is likely necessary, where healthcare institution managers need to actively drive the implementation and acceptance of ESG principles throughout their organizations, in order to see ESG initiatives becoming important at the department level.

Despite the currently low importance of vendors' ESG initiatives in purchasing decisions, their influence is likely to increase within the next 5 years. A significant 46% of imagePRO members agree or strongly agree that radiology vendors’ ESG initiatives will carry significant weight in purchase decisions for medical imaging solutions within this timeframe. While 29% neither disagree nor agree with this statement, 14% disagree and 11% strongly disagree.

These results indicate that even if radiology vendors’ current ESG initiatives do not significantly influence today's product purchases, their ongoing efforts are likely to yield results in the near future. Medical technology vendors should continue to pursue their ESG initiatives (or initiate them if they haven't already) to capitalize on this anticipated shift in importance.

Top ESG priorities and challenges

Top Environmental priority

Waste management (45%) and energy efficiency (23%) are the current top two environmental priorities in US healthcare institutions according to the imagePRO panel members. 11% prioritize green building practices, 8% focus on sustainable procurement, and 3% on water usage. 9% of the institutions have no environmental sustainability priority.

Top Social priority

Patient care and safety are the top social priority for 80% of healthcare institutions. While this result is unsurprising and reinforces the core mission of these organizations to serve patients, the focus on other social priorities is considerably lower. Six percent of US healthcare institutions prioritize community engagement or diversity and inclusion. Notably, only 4% emphasize employee welfare as a primary social initiative. This is somewhat unexpected and arguably should be higher, given that staff shortages and turnover remain critical issues in healthcare. Prioritizing employee welfare could significantly improve staff retention and loyalty

Top Governance priority

Compliance and ethics are the top governance priority for 36% of US healthcare institutions. Other important governance initiatives include leadership and accountability for 20%, risk management for 18%, and patient privacy for 17%.

ESG challenges

The primary challenge hindering the implementation of ESG initiatives at healthcare institutions today is limited resources and funding, cited by 43% of imagePRO panel members. Beyond this significant obstacle, stakeholder engagement, data collection and management, and a lack of clear goals and metrics are also key challenges, reported by 18%, 14%, and 14% respectively.

Vendor role in Environmental, Social, and Governance initiatives

When it comes to MedTech vendors, their ESG initiatives currently have little influence on purchasing decisions, but this is expected to increase (see results in “Importance of ESG Initiatives”). Nevertheless, the top expectations of healthcare providers and institutions from vendors are to offer sustainable design and manufacturing of equipment (31% of imagePRO panel members), to develop energy-efficient equipment (26%), to reduce waste and improve circular economy (19%), to reduce the use of hazardous materials (12%), and to develop carbon footprint reduction initiatives. Only 1% of imagePRO panel members expect vendors to focus on water conservation as their top environmental priority.

These expectations from vendors are aligned with healthcare institutions’ top environmental priorities, with waste management (45%) and energy efficiency (23%) currently ranking as their top two (see “Top ESG priorities”).

In the radiology department, contrast media and pharmaceutical companies are perceived as having the greatest potential to contribute to ESG initiatives, according to 29% of imagePRO panel members. Suppliers of radiology accessories and consumables follow closely at 26%, while large equipment OEMs are ranked third (19%).

These findings underscore the current importance of waste management for healthcare institutions. Contrast media and consumable companies can significantly contribute by offering solutions that minimize waste and enhance the circular economy. While large OEMs have a role to play in improving energy efficiency, this aspect does not appear to be currently as high a priority as waste reduction within radiology departments.

Do not hesitate to contact us for deeper analysis on this iPMP series – the imagePRO panel can be segmented by 49 different variables including hospital type, current installed base, and many other demographic factors!

Using Conjoint Analysis to Drive Smarter Decision-Making in MedTech

Fri, 11 Apr 2025 15:00:01 GMT

Written by: The Marketech Group

Conjoint analysis is a powerful research method that helps MedTech companies design and refine products, test market appeal, optimize pricing, and understand customer purchasing decisions. Instead of asking respondents directly about their preferences, this approach presents realistic decision-making scenarios, requiring them to choose between different product configurations. These choices reveal the trade-offs customers are willing to make and highlight which features hold the most value.

At The MarkeTech Group, we specialize in designing conjoint studies that provide actionable insights, helping MedTech firms reduce uncertainty and make confident business decisions .

Why Conjoint Analysis Matters in MedTech

New medical technologies must meet both clinical and financial expectations. Decision-makers, like hospital administrators, radiologists, or lab directors, assess products based on a variety of attributes, including performance, cost, workflow impact, and service agreements. Asking these stakeholders about feature importance in isolation often leads to inflated responses where everything appears valuable.

Conjoint analysis addresses this issue by requiring respondents to weigh different attributes against each other, mirroring real-world purchasing decisions. This approach reveals:

Feature prioritization – Understanding which product attributes influence purchase decisions the most.
Willingness to pay – Determining price sensitivity and acceptable pricing ranges.
Competitive positioning – Assessing how a product’s value proposition compares to alternatives.
Portfolio optimization – Identifying gaps in an existing product lineup and opportunities for differentiation.

How The MarkeTech Group Conducts Preference Simulation Modeling

While many survey platforms offer conjoint as a plug-and-play feature, designing a study that produces reliable and meaningful data requires expertise. A poorly structured conjoint study can lead to misleading results, causing companies to base pricing and product decisions on inaccurate assumptions.

Our team has decades of experience crafting conjoint studies for MedTech firms. Every model we design accounts for competitive realities, market expectations, and cognitive effort required from respondents.

Key Elements of a Strong Conjoint Design

Choice Tasks

Each respondent is presented with multiple sets of product options, selecting the one they prefer in each instance. The number of tasks directly impacts the reliability of the data. Smaller studies with fewer attributes may only require 6-8 tasks per respondent, while more complex studies typically involve 8–12. Our research indicates this range provides the best balance between data robustness and respondent engagement.

Number of Profiles per Task

The number of options shown per choice task influences the quality of the responses. Too few options limit comparative insights, while too many increase cognitive strain. Research suggests that 3 profiles per task are optimal, especially in MedTech, where decision-making involves technical and often unfamiliar product attributes. Our team generally recommends no more than three profiles per screen to maintain engagement.

Attributes and Levels

Attributes represent key product features, such as resolution in an imaging system or turnaround time in a diagnostic test. Levels define the possible variations within each attribute, such as "30-minute scan time" versus "15-minute scan time." A well-structured conjoint study should focus on no more than seven attributes, keeping the analysis targeted while still capturing meaningful differences.

Additionally, attributes must be independent of one another. If two attributes are highly correlated, like engine power and fuel efficiency in a car, responses may be skewed. Thoughtful model design avoids these issues, resulting in more reliable conclusions.

Timing Considerations

The time required to complete a conjoint study varies based on complexity. Respondents typically take longer on the first task as they familiarize themselves with the format. In MedTech studies, the first task often takes 35–45 seconds, with subsequent tasks averaging 15–25 seconds. European respondents tend to require more time than their U.S. counterparts, particularly in the early stages of the exercise. Understanding these timing patterns helps structure the study in a way that maintains respondent engagement while collecting high-quality data .

Introducing simPRO™: Elevate Your Conjoint Data Analysis

Conjoint analysis delivers rich data. However, without the right tools, its strategic potential can remain untapped. That’s why The MarkeTech Group offers simPRO™, an interactive, web-based preference simulation model designed to transform conjoint results into actionable business insights.

simPRO™ empowers teams to explore complex scenarios in real time, enabling stakeholders to:

Evaluate pricing strategies with precision
Conduct in-depth product configuration and mapping
Assess branding and positioning impacts

By leveraging powerful Voice-of-Customer (VOC) feedback, simPRO™ enables you to test different market scenarios without the need to re-survey, simulating product battles to help predict a product's success in the market. It can be applied across different market segments in a virtually limitless number of "what-if" scenarios, providing fast and easy access to critical insights.

Applying Conjoint Insights to MedTech Strategy

Conjoint analysis provides MedTech companies with data that can shape multiple areas of business strategy:

Product Development – Aligning R&D priorities with customer needs and market expectations.
Pricing Strategy – Defining pricing tiers that balance profitability and adoption.
Competitive Benchmarking – Identifying strengths and gaps relative to competitors.
Market Segmentation – Understanding how different customer groups prioritize features.

Decisions informed by conjoint analysis lead to stronger market positioning and more confident investments. At The MarkeTech Group , we help clients translate conjoint data into strategic recommendations that drive commercial success.

Looking to leverage conjoint analysis for your next product decision? Submit an RFP today, and let’s discuss how our expertise can provide the insights you need.

Market Segmentation in Healthcare Marketing

Thu, 10 Apr 2025 16:44:52 GMT

Written by: The Marketech Group

What is Market Segmentation in Healthcare?

Market segmentation in healthcare is the process of dividing a broad audience into distinct groups based on shared characteristics, enabling organizations to tailor their strategies for more effective engagement. These segments can include patients, healthcare providers, payers, and other key stakeholders, each with unique needs, behaviors, and decision-making criteria.

Segmentation helps identify and prioritize target audiences, allowing healthcare marketers to deliver personalized messages, services, or solutions that resonate with specific groups. This approach improves resource allocation, enhances patient-provider communication, and drives better outcomes across the care continuum. By addressing the diverse preferences of stakeholders, healthcare organizations can foster stronger connections and boost the overall effectiveness of their marketing initiatives.

When executed with precision, market segmentation becomes a cornerstone of impactful healthcare marketing strategies, driving both engagement and value.

Key Benefits of Effective Healthcare Market Segmentation

Effective healthcare market segmentation delivers significant advantages for organizations aiming to connect with diverse audiences. Targeting specific groups with tailored strategies helps healthcare marketers maximize engagement, optimize resource allocation, and achieve measurable outcomes. Key benefits include:

Improved Patient Engagement: Personalized messaging resonates more deeply, building trust and loyalty.
Enhanced Marketing ROI: Focused campaigns allocate resources efficiently, leading to greater impact .
Stronger Provider Relationships: Custom solutions address unique provider needs, fostering collaboration and satisfaction.
Informed Product Development: Insights from segmentation shape innovations aligned with stakeholder preferences.
Better Health Outcomes: Tailored communication and interventions strengthen patient adherence and results.

Effective segmentation transforms marketing efforts into a powerful driver of growth, improving connections and outcomes across the healthcare ecosystem.

Types of Market Segmentation in Healthcare

Healthcare market segmentation can be categorized into three primary areas: patient segmentation, provider segmentation, and segmentation of other stakeholders. Each focuses on distinct audiences, offering insights to drive targeted strategies and improve engagement.

Patient Segmentation

Patient segmentation involves grouping individuals based on demographics, behaviors, or health needs, allowing for more personalized care and communication.

Effective Segments for Patients/Consumers

Effective patient segments might include groups based on age, such as seniors managing chronic conditions or millennials seeking preventive care. Behavioral factors, like treatment adherence, also define actionable segments. Psychographic data , including attitudes toward health and wellness, can further refine outreach efforts.

Healthcare Provider Segmentation

Healthcare provider segmentation focuses on identifying groups of professionals with similar needs, preferences, or practice characteristics.

Effective Market Segments for Healthcare Professionals

Providers can be segmented by specialty, practice size, or technology adoption levels. For example, small practices may require distinct marketing strategies compared to large hospital systems. Geographic location and regulatory environments also influence how providers engage with services or technologies.

Segmenting Other Stakeholders

Beyond patients and providers, stakeholders such as payers, purchasing staff, procurement, hospital administration, and suppliers represent critical segments in healthcare. Understanding these unique stakeholder dynamics ensures well-rounded, targeted healthcare marketing strategies.

Key Steps to Effective Market Segmentation in Healthcare

Developing impactful healthcare market segmentation requires a structured, data-driven approach . The following steps outline a path to ensure precision and effectiveness, combining strategic insights with advanced methodologies.

Step 1: Conducting Comprehensive Market Research

Effective segmentation begins with in-depth market research to gather critical data. This includes demographic, firmographics, and behavioral information from patients, providers, and other stakeholders. A robust research foundation ensures meaningful segments emerge.

Step 2: Defining Clear Segment Criteria

Once data is collected, establishing clear segmentation criteria is essential. Parameters may include age, income, health status, or geographic location. Statistical techniques like factor analysis, principal component analysis (PCA), or unsupervised random forest can help identify the most relevant criteria. Defining these parameters ensures segments are both practical and aligned with organizational goals.

Step 3: Analyzing and Validating Segments

Sophisticated tools such as k-means clustering and other machine learning algorithms are applied to uncover patterns within the data. This process groups individuals based on shared characteristics, allowing for a deeper understanding of distinct customer segments.

Step 4: Implementing and Monitoring Segmentation Strategy

Once segments are identified, tools like PROfiler can be used to integrate this data into sales and marketing workflows. PROfiler empowers future sales teams to categorize leads into defined segments, ensuring targeted messaging and efficient resource allocation. By leveraging segmentation insights within PROfiler, organizations can enhance engagement and streamline their sales processes.

Case Studies: Successful Market Segmentation in Healthcare

The MarkeTech Group recently supported the market entry of a telemonitoring solution in Europe, delivering actionable insights to ensure a successful launch. The project focused on understanding patient discharge practices and pain management needs.

Through focus groups with healthcare professionals across the UK, Germany, France, Spain, and Italy, we gathered essential insights into market needs and stakeholder preferences. This targeted research enabled the identification of key patient segments and influential stakeholders critical for market penetration.

Our findings empowered the client to develop a precise marketing and sales strategy, focusing on the most receptive audiences. By positioning the telemonitoring solution effectively, the client achieved greater product adoption, streamlined resource allocation, and increased ROI.

This success story demonstrates how strategic market segmentation can optimize sales efforts, align solutions with market needs, and drive impactful outcomes in the competitive healthcare industry.

Challenges and Considerations in Healthcare Market Segmentation

While healthcare market segmentation offers immense benefits, it comes with unique challenges and considerations. The complexity of healthcare audiences—spanning patients, providers, payers, and policymakers—requires careful segmentation to avoid oversimplification.

Data accuracy and availability often pose hurdles . Incomplete or outdated data can lead to inaccurate segments, undermining marketing efforts. Regulatory requirements, such as HIPAA and GDPR, add layers of complexity to data collection and usage.

Another consideration is balancing specificity and scalability. Highly targeted segments may yield impactful results but can limit market size or campaign reach. Additionally, market dynamics, such as evolving patient needs or emerging technologies, necessitate continuous monitoring and adjustment of segments.

By addressing these challenges with robust research, advanced methodologies, and strategic oversight, organizations can harness the full potential of healthcare market segmentation.

Turn Segmentation, Targeting & Positioning into Actionable Insights

Download our free guide to learn how to connect STP strategies to real-world marketing decisions.

The Role of The MarkeTech Group in Healthcare Market Segmentation

The MarkeTech Group delivers data-driven insights that empower healthcare organizations to execute precise, impactful market segmentation strategies. With expertise in medical imaging, diagnostics, informatics, AI, and life sciences, our team blends deep industry knowledge with advanced methodologies to solve the complex challenges of healthcare marketing.

Our proprietary PROfiler tool extends segmentation insights beyond research, enabling sales teams to efficiently categorize and prioritize leads within predefined market segments. This seamless integration ensures long-term success by maximizing the value of your segmentation strategy and aligning efforts with actionable insights.

From identifying key stakeholder groups to uncovering actionable patient preferences, we help clients craft targeted strategies that drive engagement, optimize resources, and support successful product launches. Our proven approach ensures segmentation aligns with organizational objectives and adapts to shifting market dynamics.

Partner with The MarkeTech Group to de-risk your marketing decisions and enhance your competitive advantage. Request a proposal today to discover how our tailored solutions can drive your success.

Barriers to Entry in Healthcare: Key Market Entry Strategies

Thu, 03 Apr 2025 15:00:01 GMT

Written by: The Marketech Group

Breaking into the healthcare market presents unique challenges, from regulatory hurdles to competitive pressures. Companies developing medical technologies, pharmaceuticals, or healthcare services must navigate a complex environment shaped by stringent policies, evolving patient needs, and financial constraints.

Unlike other industries, success is not solely determined by innovation. Market entry requires strategic planning, data-driven decision-making, and a deep understanding of customer priorities. Overcoming these challenges requires a structured approach, balancing compliance, pricing strategy, and value communication. Understanding the barriers to entry and adopting effective market entry strategies can help companies establish a strong foothold and drive long-term success.

Objectives of Healthcare Market Entry

Companies entering healthcare markets typically focus on three primary objectives: regulatory approval, adoption, and scalability. Securing regulatory clearance from agencies such as the FDA or EMA is a necessary first step, this helps determine a product’s eligibility for commercialization. Beyond approval, healthcare organizations, providers, and payers must recognize the product’s value for adoption to occur. Scalability then becomes the final objective, allowing a company to expand market reach while maintaining efficiency and profitability. Achieving these goals requires careful planning, comprehensive research, and a strategy tailored to the needs of key stakeholders.

Types of Barriers to Entry in Healthcare Markets

Health Technology Assessment (HTA)

Health Technology Assessment (HTA) plays a major role in determining market access for new healthcare solutions. Government agencies and payers use HTAs to evaluate the clinical effectiveness, cost-effectiveness, and broader impact of a product before approving reimbursement. A favorable HTA outcome can accelerate adoption, while a negative evaluation can delay or prevent market entry. Companies must present strong clinical and economic evidence to demonstrate superior outcomes and justify pricing. Understanding the specific HTA criteria of target markets helps in preparing the right data to support a successful submission.

Financial Barriers

High development costs and reimbursement complexities create financial hurdles for new entrants. Research and development expenses, regulatory fees, and clinical trials require significant investment before a product reaches the market. Even after launch, securing reimbursement from insurers or government programs can be a slow and uncertain process. Many healthcare providers operate under strict budgets, making cost-effectiveness a key consideration. Companies must carefully assess pricing models, funding opportunities, and reimbursement pathways to mitigate financial risks and support long-term growth.

Competitive Barriers

The healthcare industry is highly competitive , with established players holding strong market positions. Companies that have built trust over decades often have exclusive contracts, extensive distribution networks, and brand recognition that make it difficult for new entrants to gain traction. Additionally, intellectual property protections and regulatory exclusivity can limit competition for extended periods. Differentiation is key to overcoming competitive barriers. Companies must identify gaps in existing solutions, develop a compelling value proposition, and leverage strong clinical data to shift provider and payer preferences.

Technological and Innovation Barriers

Medical innovation is advancing rapidly, but not all new technologies align with clinical workflows, regulatory standards, or payer expectations. Adoption often depends on how well a product integrates into existing healthcare infrastructure. Interoperability challenges, data security concerns, and clinician training requirements can slow adoption, even if a technology offers clear benefits. Companies must anticipate these barriers during development and ensure that their solutions align with healthcare providers’ operational realities. Early engagement with stakeholders can help refine product design and increase the likelihood of acceptance.

Download our Free Go-to-Market Strategy Checklist

Plan your next medtech launch with confidence.

Download our Free Go-to-Market Strategy Checklist

Plan your next launch with confidence.

Clarifying Competitive Barriers: Overcoming Market Entrenchment

Breaking into a competitive healthcare market is difficult, especially when established players hold long-term procurement contracts, enjoy strong brand trust, and benefit from decision-maker inertia. Even when a new product offers clinical or operational advantages, these factors can make switching costly and inconvenient.

Procurement Contracts Limit Access

Hospitals and healthcare networks often sign exclusive agreements with vendors, securing bulk discounts and service benefits. These contracts create high switching costs, making it challenging for new entrants to compete on price alone. Partnering with group purchasing organizations (GPOs) or demonstrating clear financial advantages can help open doors.

Decision-Maker Inertia Slows Adoption

Hospital administrators and department heads may hesitate to adopt new technology due to concerns about workflow disruptions, training requirements, or integration challenges. Pilot programs, case studies, and strong peer endorsements can help overcome skepticism and build confidence in new solutions.

Brand Trust Creates a Loyalty Barrier

Established MedTech brands have spent decades building relationships and customer loyalty. Competing against this trust requires a clear differentiation strategy, strong clinical validation, and messaging that highlights what a new solution offers that incumbents do not.

Navigating these barriers requires market intelligence and a strategic approach. The MarkeTech Group provides the research needed to identify opportunities, refine positioning, and develop strategies that help new entrants compete effectively. Submit an RFP today to learn how we can support your market entry strategy.

Key Market Entry Strategies in Healthcare

Conducting In-Depth Market Research

Understanding customer needs, market demand, and competitive positioning is fundamental to a successful entry. Research helps identify key decision-makers, assess buying behavior, and uncover potential adoption barriers. Qualitative and quantitative methodologies, including conjoint analysis, pricing studies, and segmentation research, provide insights that inform go-to-market strategies. Investing in research before launch reduces uncertainty and strengthens decision-making.

Developing a Targeted Value Proposition

A strong value proposition clearly communicates how a product addresses specific pain points for healthcare providers, payers, and patients. Companies must define what sets their offering apart, whether it’s improved clinical outcomes, operational efficiency, or cost savings. Aligning messaging with stakeholder priorities increases the likelihood of adoption. Market research plays a key role in refining this messaging, helping companies craft compelling evidence-backed narratives.

Strategic Pricing

Pricing strategies impact both market penetration and profitability. Setting the right price requires balancing customer willingness to pay, reimbursement structures, and competitive positioning. Tools like Van Westendorp pricing analysis help determine optimal pricing ranges. Companies must also consider flexible pricing models, such as subscription-based or value-based pricing, to improve accessibility and long-term adoption.

Leveraging Partnerships and Alliances

Collaborating with established industry players can accelerate market entry. Strategic partnerships with healthcare providers, research institutions, or distributors provide access to key networks and improve credibility. Licensing agreements and co-development opportunities also reduce financial risks and help new entrants gain traction more efficiently. Identifying the right partners early in the process can provide a competitive edge.

Investing in Health Tech Innovation

Healthcare decision-makers increasingly prioritize solutions that improve efficiency, patient outcomes, and workflow integration. Companies that embrace cutting-edge technologies, such as AI-driven diagnostics, telemedicine, and data interoperability, can differentiate themselves in competitive markets. Focusing on user-friendly design and regulatory compliance helps increase adoption rates and long-term sustainability. Innovation must be guided by market demand to drive real value.

Overcoming Market Entry Challenges with The MarkeTech Group

Entering the healthcare market requires more than a strong product. Companies must anticipate regulatory, financial, and competitive hurdles while ensuring their value proposition resonates with key stakeholders. At The MarkeTech Group , we specialize in providing actionable market research that helps healthcare companies refine their entry strategies. From pricing optimization to competitive intelligence and customer segmentation, our research methodologies provide data-driven insights that reduce uncertainty and support informed decision-making.

With over two decades of experience helping MedTech and life sciences firms navigate complex markets, we offer the expertise needed to address barriers and maximize success. Submit an RFP today to learn how our research solutions can support your market entry strategy.

Download our Free Go-to-Market Strategy Checklist

Plan your next launch with confidence.

Download our Free Go-to-Market Strategy Checklist

Plan your next medtech launch with confidence.

Van Westendorp Analysis: Key to Understanding Customer Price Sensitivity

Wed, 02 Apr 2025 19:18:50 GMT

Written by: The Marketech Group

Pricing Model: Determining the Optimal Price Point

Establishing the right price for a product is a delicate balance… set it too high, and potential customers may walk away; set it too low, and you risk undervaluing your offering. In the competitive MedTech industry, where pricing influences both market adoption and long-term profitability, data-driven pricing strategies are essential.

One of the most effective methodologies for determining an optimal price range is the Van Westendorp Price Sensitivity Meter (PSM). This model helps businesses identify what customers perceive as acceptable pricing, providing critical insights into price thresholds, perceived value, and demand elasticity. When incorporating Van Westendorp analysis early in the product development process, companies can align pricing with customer expectations—mitigating risk and maximizing revenue potential.

What is the Van Westendorp Price Sensitivity Meter?

Developed in 1976 by Dutch economist Peter Van Westendorp, the Price Sensitivity Meter (PSM) is a research technique used to determine a product’s acceptable price range. It evaluates consumer perceptions by asking four key pricing questions, pinpointing the price thresholds where a product is seen as:

Too expensive to justify purchasing
Expensive but still acceptable
A bargain or good value
Too cheap to be considered credible

Unlike traditional willingness-to-pay surveys, which often rely on direct pricing inquiries, Van Westendorp’s approach captures the psychological factors influencing price perception—revealing an optimal "price corridor" that balances affordability with profitability.

Why Use the Van Westendorp Price Sensitivity Meter?

For MedTech companies, pricing decisions impact everything; from market penetration to regulatory reimbursement strategies. The Van Westendorp PSM provides a structured yet flexible method to:

Validate pricing strategies before product launch
Identify pricing sweet spots that maximize both demand and profit
Minimize pricing risks by understanding what customers expect
Support pricing adjustments for existing products in response to market shifts

Additionally, the Newton/Miller/Smith extension enhances Van Westendorp analysis by incorporating purchase likelihood at different price points.

By leveraging Van Westendorp analysis, The MarkeTech Group helps MedTech firms confidently set prices that reflect customer expectations and market realities.

Key Applications of Van Westendorp Analysis in Market Research

Pricing influences product success at every stage, from launch to market expansion. Van Westendorp analysis helps companies refine pricing strategies based on customer perceptions, making it a valuable tool for new product introductions, repositioning efforts, and pricing adjustments.

Bringing a New Product to Market

For a new product, pricing decisions can determine adoption rates and competitive positioning. Setting a price too low may create doubts about quality, while an overly high price can push potential buyers toward alternatives. Van Westendorp analysis helps establish a pricing range that aligns with customer expectations, balancing affordability and perceived value. This approach allows businesses to identify a price point that attracts interest while maintaining profitability.

Repositioning an Established Product

Market conditions, competitor strategies, and shifting customer needs can impact how an existing product is perceived. If a product is struggling to gain traction or losing market share, adjusting its pricing strategy can improve demand. Van Westendorp analysis helps identify where the product fits within current customer expectations, making it possible to refine pricing for better alignment with market conditions.

Adjusting Features and Pricing for Established Products

Products evolve based on feedback, technological advancements, and new use cases. When updates are introduced, pricing may need adjustments to reflect added value. Van Westendorp analysis provides insight into how much customers are willing to pay for enhanced features, helping companies determine whether a premium pricing model, tiered approach, or bundled offering is appropriate.

How Van Westendorp Analysis Works

Pricing isn’t just about numbers…it’s about perception. A product’s price influences how customers judge its quality, value, and affordability. Van Westendorp analysis helps businesses find the right balance by asking customers a set of structured questions designed to uncover pricing expectations. This method identifies a price corridor, the range where a product is considered neither too cheap nor too expensive.

The Four Key Van Westendorp Questions

At the heart of this analysis are four simple yet revealing questions. Rather than asking outright what someone is willing to pay, the method gauges perception, giving businesses a more nuanced understanding of how pricing impacts purchasing decisions.

At what price is the product too expensive?

This question identifies the threshold where customers believe the price is no longer reasonable. If too many respondents select a similar number, it may indicate resistance at that price point.

At what price is the product expensive but acceptable?

Not all high prices deter buyers. This question helps determine the upper limit where customers still see value, even if they perceive the product as costly.

At what price is the product cheap but acceptable?

On the lower end, this question identifies a price point that feels affordable while still maintaining credibility. Customers may see the product as a good deal at this price, increasing interest and potential demand.

At what price is the product too cheap to be credible?

If a price drops too low, it can raise doubts about quality. This question helps uncover the point where customers start questioning whether the product is reliable or effective.

Understanding the Acceptable Price Range

When the responses to these questions are plotted, the intersections reveal a range where most customers feel comfortable making a purchase. This "acceptable price range" helps companies position their product competitively while maximizing perceived value. Instead of guessing, businesses can rely on direct customer feedback to set a price that supports both sales and profitability.

How Van Westendorp Analysis Defines an Acceptable Price Range

To give you a practical look at how the Van Westendorp Analysis can be applied to establish an acceptable price range, check out this video .

The MarkeTech Group’s team explains how this methodology supports data-backed pricing research to pinpoint a pricing sweet spot that aligns with customer expectations and market dynamics.

Benefits of Van Westendorp Price Sensitivity Analysis

Pricing decisions carry risk. Set a price too high, and potential buyers may look elsewhere. Too low, and the product may lose credibility or leave revenue on the table. Van Westendorp analysis removes the guesswork by capturing real customer perceptions, providing a clear pricing range that aligns with expectations.

This approach is fast, efficient, and does not require a large sample to yield meaningful insights. It works well for early-stage pricing assessments, helping businesses refine strategy before launch . For existing products, it can reveal when adjustments are needed to maintain competitiveness.

With the integration of the Newton/Miller/Smith extension, which assesses purchase likelihood at different price points, businesses can move beyond perception analysis to estimate demand and revenue potential. The result? A pricing strategy that balances market acceptance with profitability.

How The MarkeTech Group Supports Optimal Pricing Decisions

Understanding customer price sensitivity is key to making informed pricing decisions. At The MarkeTech Group , we specialize in helping MedTech companies define optimal price points using Van Westendorp analysis and advanced pricing research methodologies.

Our team provides data-driven insights that go beyond simple price perception. We incorporate the Newton/Miller/Smith extension to assess purchase likelihood at different price points, allowing clients to estimate demand curves and revenue potential. Whether launching a new product, repositioning an existing one, or adjusting pricing strategies, our research ensures pricing aligns with market expectations while supporting profitability.

With decades of experience in medical imaging, diagnostics, informatics, AI, and life sciences, we deliver tailored pricing research that mitigates risk and enhances market adoption.

Ready to refine your pricing strategy? Submit an RFP today. Our experts are prepared to provide actionable insights that drive smarter pricing decisions.

MICI Q2 2025

Thu, 20 Mar 2025 20:15:39 GMT

2025 MICI Q2 Shows More Confidence in Constant Costs and Capital Access

The Medical Imaging Confidence Index (MICI) Q2 2025 results show continued high confidence in growth as a profit center. Hospitals across all bed sizes report low confidence in receiving adequate reimbursement from Medicare. Confidence in monthly radiology growth varies across bed sizes, with larger institutions appearing more confident.

imagePRO Market Pulse Series: CT purchase in 2025

Mon, 17 Mar 2025 20:53:54 GMT

The imagePro Market Pulse (iPMP) is a series of insights on the US radiology market provided by The MarkeTech Group.

The iPMP is a custom research initiative with our imagePRO™ panel of over 350 USA hospital-based imaging directors and managers. In this second series, we asked the imagePRO panel to share their plans for their next MRI purchase, their available budget, the vendor they are most likely to select, and the important factors in selecting an MRI vendor. All questions were single-select.

Next CT purchase timeline

38% of the imagePRO panel members expect to purchase a CT in 2025. Most of these planned acquisitions will occur in Q4 of 2025, with 20% of imagePRO members completing their product selection during this quarter. An additional 18% of imagePRO members will finalize their CT deals evenly throughout Q1, Q2, and Q3, with each quarter accounting for 6%.

Budget available for next CT purchase

While 41% have yet to define their budget, 37% have set a budget of $750k or higher for their next CT purchase – which is likely to be a high-end system. 13% have a budget between $600k and $750k, and 9% between $450k and $600k – for the purchase of a mid-range CT scanner.

Expected CT lifespan

In 2014, the European Society of Radiology described the CT scanner life expectancy based on utilization: 8 years for high (24 h/day 5 days/week or 750 8-h shifts/year), 10 years for medium (16 h/day 5 days/week or 500 8-h shifts/year), and 12 years for low (8 h/day 5 days/week or 250 8-h shifts/year).

In 2025, the majority of the imagePRO panel (58%) expects their next CT scanner to last between 11 and 15 years. Since average utilization rates have steadily increased because of higher patient volumes, it is likely that the trend is shifting toward extending the lifespan of CT scanners for “medium” and “high” utilization rates. 33% expect their CT system to last 10 years or less. For the 9% foreseeing a CT lifespan of 16 years or more, service, maintenance, and upgrade offerings will be crucial to handle usage over such extended periods.

Most Likely Vendor for next CT purchase

45% of imagePRO members identify GE Healthcare as their most likely choice for their next CT purchase, making GE Healthcare the top vendor. Siemens Healthineers (28%) and Canon (21%) round out the top 3. Only 6% of imagePRO members are considering other vendors, including Philips (3%), FujiFilm (2%), and United Imaging (1%). No members indicated they would select a vendor outside of this list of major OEMs.

Factors for selecting a CT vendor

Aside from price, strong service and support (32%), and superior image quality (25%) are the most impactful factors when selecting a CT vendor. Service and support is crucial for high-utilization CT systems over an extended lifespan. Advanced technologies and features (29%) come third among most impactful factors. Prior experience with a vendor is most impactful for 12% of imagePRO members but also least impactful for 8%. This duality shows that while some customers select their current CT vendor for their next purchase, others are open to considering new vendors, especially since trusted brand reputation is least impactful for another 8%. The country of origin is considered the least impactful factor for CT vendor selection by 73%.

Do not hesitate to contact us for deeper analysis on this iPMP series – the imagePRO panel can be segmented by 49 different variables including hospital type, current install base, and many other demographic factors!

Guide to Conjoint Analysis for Healthcare Insights

Sat, 22 Feb 2025 20:20:27 GMT

Healthcare decisions aren’t made in a vacuum.

Teams working on diagnostic platforms, informatics tools, or new treatment technologies face a mix of performance targets, budget constraints, and user needs.

Conjoint analysis brings structure to that complexity. It captures how real customers make trade-offs, revealing which features tip the scale and what price points resonate. Instead of relying on assumptions or internal consensus, teams gain direct insight into what buyers are willing to choose.

This approach adds the most value early in product development or ahead of launch. It helps refine what matters most, like cutting distractions, sharpening value propositions, and making it easier to speak to customer priorities. For teams tired of second-guessing, it offers a behavioral lens that moves strategy forward.

Conjoint analysis transforms uncertainty into opportunity; it grounds decisions in behavioral insight and accelerates success.

What is Conjoint Analysis?

Conjoint analysis is a quantitative research methodology that models how people make decisions when faced with multiple variables. Rather than asking respondents to rate features in isolation, it uncovers the relative importance of each feature based on the trade-offs people are willing to make.

This method helps quantify how pricing, functionality, and other product attributes influence real-world choices, making it especially valuable for MedTech teams seeking to understand complex buyer behavior.

How Conjoint Analysis Works in

Healthcare Research

In a conjoint study, respondents evaluate sets of hypothetical product profiles, each combining different features, benefits, and pricing. These scenarios simulate realistic purchasing or adoption decisions.

In the healthcare space, this means clinicians, hospital administrators, or patients engage with trade-offs in imaging systems, diagnostic tools, or AI-powered platforms. The resulting data shows which attributes drive selection, how preferences shift across roles, and where perceived value lies.

Why Use Conjoint Analysis in Healthcare?

Instead of relying on anecdotal feedback or internal assumptions, conjoint analysis provides quantifiable data on how different features, price points, and configurations influence customer choice.

In healthcare, this method delivers insight that supports precision and confidence across product strategy, marketing, and sales planning.

Understand Customer Preferences for Better Decision-Making

Conjoint analysis reveals which product attributes matter most to specific audiences, from cost sensitivity to diagnostic accuracy and beyond. This helps teams align messaging, prioritize development, and shape offerings around customer-defined value.

Optimize Product Offerings for Market Fit

Using conjoint data, organizations can refine bundles, adjust features, or recalibrate service tiers to meet stakeholder expectations. These insights help close the gap between internal vision and external demand.

Gain a Competitive Advantage Through Data-Driven Insights

Before launch, conjoint results can simulate market reactions and forecast share shifts. This allows teams to evaluate positioning, identify risk, and move decisively against competitors.

Key Areas Where Conjoint Analysis Solves

Healthcare Challenges

Healthcare organizations face multi-layered decisions that rarely yield to surface-level surveys or historical data. When priorities conflict (clinical utility versus cost, speed versus accuracy, or innovation versus budget), conjoint analysis helps untangle the trade-offs. It models real-world decision-making to show what stakeholders will actually choose, not just what they say they prefer. This structured approach supports multiple use cases across the product lifecycle.

What to Consider Before Using Conjoint Analysis

Conjoint analysis delivers depth , but it requires careful planning to yield meaningful results. When done right, it produces high-confidence insights that inform pricing, positioning, and product design decisions. Before moving forward, teams should consider a few foundational factors.

Start with a clear business question. The strength of conjoint lies in its ability to model trade-offs, so the attributes chosen must reflect real decision points your audience faces. Irrelevant or overly technical variables can dilute insights and confuse respondents.

Attribute selection, level definition, and profile design all require cross-functional input. Engage clinical, commercial, and research teams early to ensure the study reflects both market realities and internal priorities .

Sample selection also matters. Whether targeting purchasing committees, radiologists, or hospital IT leaders, the study must reach the right decision-makers to reflect authentic preferences.

Finally, interpreting results takes more than just a utility score. Context, experience, and simulation tools are key to turning output into strategic direction. That’s where expertise makes a difference.

Leverage Conjoint Analysis for Smarter

Healthcare Insights

Conjoint analysis gives teams the ability to understand how healthcare buyers think when choices are complex and trade-offs are unavoidable. It breaks decisions down into measurable inputs, showing what influences preference, how much each factor matters, and where perceptions shift across different roles and settings.

These insights sharpen strategy. Regardless of whether the goal is to optimize pricing, refine product features, or plan a successful launch, conjoint data helps reduce uncertainty and align internal priorities to actual market behavior.

At The MarkeTech Group , we specialize in designing healthcare-focused conjoint studies that answer the right questions at the right time. Our experience spans imaging, diagnostics, informatics, and AI, delivering simulations that reflect real-world decision-making among clinicians, administrators, and patients. Our proprietary tool simPro™ transforms data into clear, strategic direction.

Interested in applying conjoint analysis to your next project ?

Submit an RFP to start the conversation. We'll tailor our approach to match your goals and help you move forward with clarity and confidence.

imagePRO Market Pulse Series: MRI purchase in 2025

Thu, 20 Feb 2025 23:36:11 GMT

The imagePro Market Pulse (iPMP) is a new series of insights on the US radiology market provided by The MarkeTech Group.

Next MRI purchase timeline

40% of the imagePRO panel members expect to purchase an MRI in 2025. The majority of new MRI purchases will happen in the second half of 2025, with 16% of imagePRO members expecting to make their product selection in Q4 and 10% in Q3. Meanwhile, 14% of imagePRO members will finalize their MRI deals in early 2025 (7% in Q1 and 7% in Q2).

Budget available for next MRI purchase

While 36% have no budget defined yet, 17% have set a budget of $1.75m or higher for their next MRI purchase – which is likely to be a high-end system. 25% have a budget between $1.25m and $1.75m, and 21% between $750k and $1.25m. Only 1% have a budget of $750k or less, which is indicative of the small market for pre-owned and low-field systems in the US.

Expected MRI lifespan

In 2018, the average replacement cycle for an MRI scanner was close to 13 years. In 2025, the majority of the imagePRO panel still expects an MRI lifespan to be similar, with 66% anticipating their next MRI scanner to last between 10 and 15 years.

However, the trend is shifting toward extending the lifespan of MRI scanners. Only 8% expect their MRI system to last less than 10 years, while 23% foresee it lasting 16 to 20 years, and 3% predict a lifespan of over 20 years. Service, maintenance, and upgrade offerings will be crucial for MRI scanners to handle increased usage over extended periods.

Most Likely Vendor for next purchase

88% of imagePRO members identify GE Healthcare or Siemens Healthineers as their most likely choice for their next MRI purchase (44% each), making them the top vendors. Additionally, 12% of imagePRO members are considering other vendors, including Canon (6%), Philips (4%), FujiFilm (2%), and United Imaging (1%), while no members indicated they would select a vendor outside of this list of major OEMs.

Factors for selecting an MRI vendor

Aside from price, advanced technologies and features (29%), strong service and support (27%), and superior image quality (19%) are the most impactful factors when selecting an MRI vendor. One vendor must strongly address these elements to be selected for next MRI purchase.

Prior experience with vendor is most impactful for 13% of imagePRO members but also least impactful for 17%. This duality shows that while some customers select their current MRI vendor for their next purchase, others are open to considering new vendors.

The country of origin is considered the least impactful factor for MRI vendor selection by 72%.

Clinicians vs. Administrators: Who Are The Primary Purchase Decision Makers in Healthcare?

Mon, 10 Feb 2025 21:04:14 GMT

Knowing who drives purchasing decisions in healthcare leads to smarter engagement, stronger messaging, and better alignment across your commercial strategy. Hospitals and health systems involve multiple voices when evaluating new technologies, but not all voices carry the same weight.

While clinicians influence choices based on patient outcomes and product performance, administrators often weigh financial sustainability and operational impact. Their priorities often overlap, yet their decision-making paths differ.

Adding to the complexity, key opinion leaders (KOLs) shape perception and influence adoption, even when they aren’t signing contracts

Differentiating between these roles (and how they interact) is critical. By identifying the true drivers of decision-making, companies can tailor strategies that resonate with stakeholders and accelerate informed, confident purchasing decisions.

Who Are Key Opinion Leaders in the Healthcare System?

Key opinion leaders (KOLs) are highly respected clinicians, researchers, or specialists recognized for their expertise and influence within a specific area of medicine. Their insights carry weight among peers, making them pivotal voices in shaping clinical preferences, technology adoption, and product credibility. While they may not hold formal purchasing authority, their perspectives often influence those who do.

What Role Do Key Opinion Leaders Play in Healthcare Purchasing?

KOLs serve as trusted references in the evaluation phase of purchasing decisions. Administrators and frontline providers look to KOLs for validation, especially when considering unfamiliar or high-investment technologies.

A strong recommendation from a KOL can fast-track product acceptance, reduce resistance, and support internal justification for procurement. Their influence helps bridge the gap between clinical needs and strategic decision-making, making them a valuable point of alignment for companies seeking to position solutions effectively in a crowded market .

Who Are Key Decision-Makers in the Healthcare System?

Healthcare purchasing decisions are shaped through collaboration, but certain individuals consistently carry more authority than others. Decision-makers typically fall into two primary categories: clinicians and administrators. Clinicians, including physicians, nurses, and department heads, focus on patient care, clinical outcomes, and the practical functionality of a product within the care environment. Administrators, such as hospital executives, procurement directors, and financial officers, prioritize cost-effectiveness , return on investment, and alignment with organizational goals.

Each group brings distinct criteria to the table. Clinicians champion products that support diagnostic accuracy, ease of use, and workflow efficiency. Administrators assess scalability, contract terms, and long-term impact on operational efficiency. While their motivations differ, their collaboration is essential for reaching a consensus. Knowing who leads the discussion, who influences internally, and who signs off on purchasing decisions helps suppliers position their offerings in a way that reflects both clinical and institutional priorities.

Who Makes Purchasing Decisions in Healthcare?

Purchasing in healthcare rarely follows a single pathway. Decisions typically involve input from multiple departments and require alignment between clinical value and financial feasibility. While final approval may rest with one party, the process is collaborative (and often nuanced), requiring buy-in from both financial and clinical stakeholders.

The Role of Administrators in Healthcare Purchasing

Administrators manage budgets, negotiate contracts, and assess the long-term financial impact of each purchase. Their decisions are shaped by organizational strategy, return on investment, and alignment to institutional goals. Most large-scale purchases must pass through this administrative lens.

The Role of Clinicians/Service Providers in Healthcare Purchasing

Clinicians validate whether a product meets clinical needs and integrates into existing workflows. Their support can be decisive, especially for items used at the point of care. Without clinician backing, adoption often stalls, even if budget approval is secured.

Balancing Clinicians and Administrators: Finding the Right Decision-Making Strategy

A successful healthcare purchasing strategy doesn’t favor one group over the other. It builds alignment across both clinical and administrative stakeholders. While their objectives differ, neither group operates in isolation. For example, administrators often seek clinical validation, and providers require institutional backing to implement new solutions.

Rather than presenting a one-size-fits-all value proposition, effective teams adapt their approach. That may involve separate messaging tracks, cross-functional engagement, or sequencing outreach to match internal workflows. Listening closely to both sides uncovers potential points of resistance early, allowing suppliers to adjust positioning before decisions stall.

More importantly, recognizing the timing and influence of each stakeholder leads to smarter prioritization. Clinicians may influence the initial request; administrators may control the final sign-off. Mapping this interplay helps commercial teams identify who to engage, when to engage them, and how to create forward momentum throughout the decision cycle.

Who Holds the Final Decision in Healthcare Purchasing?

Final purchasing authority in healthcare depends on the type of product, the size of the investment, and the organization’s structure. While collaboration plays a significant role, most decisions ultimately rest with a single point of accountability. Understanding who that is helps suppliers tailor engagement efforts and set realistic expectations for the decision timeline.

Clinician Decision-Makers: Key Medical Device and Pharmaceutical Purchases

A respected clinician’s endorsement can drive adoption, especially when purchases fall under department-level budgets. In areas such as interventional cardiology, surgery, and oncology, physicians may have the authority to select specific devices or drug regimens.

Administrator Decision-Makers: Procurement and Budget Control

For high-cost investments, bundled purchases, or system-wide implementations, administrators control final approval. Procurement teams assess vendor contracts, compliance requirements, and long-term cost implications before a decision is finalized.

Leverage Insights for Effective Marketing Strategies

Behind every healthcare purchasing decision is a series of conversations. A department head makes the case for what they believe will improve patient care. A procurement lead asks how it fits into next year’s budget. An executive wants to know what success looks like twelve months down the line. These moments don’t happen on a flowchart. They happen between people who are weighing risk, trust, and outcomes.

Understanding these conversations, who drives them, who listens, and who ultimately says yes, is what transforms a sales pitch into a shared solution.

That’s where we come in.

The MarkeTech Group reaches the people behind the process. We deliver insights that don’t just tell you what’s happening, but why it’s happening and what to do about it.

Submit an RFP today . Our team is prepared to align our expertise with your product’s requirements, fostering solutions that exemplify success and drive innovation at every turn.

The 5 "Don'ts" for a Successul IDI

Wed, 29 Jan 2025 18:51:21 GMT

Written by: The Marketech Group

How to lose $30million in 2 months - The overlooked art of conducting a successful in-depth interview

The Tropicana orange juice rebranding disaster is the flagship example of a failed marketing research strategy. It demonstrates the consequences of investing heavily in an advertising campaign without conducting rigorous marketing research and well-designed qualitative in-depth interviews (IDI).

In 2009, Tropicana invested $35 million in advertising their brand and packaging redesign. However, shortly after launch, sales dropped by 20% within 2 months, resulting in a loss of $30 million. Within just 30 days, the company made the decision to return to their original packaging, marking it as "The worst rebrand in history".

In depth one-on-one interviews (IDI) represent highly effective tools for marketing researchers to gather meaningful and actionable qualitative data.

The art of conducting a successful IDI requires a strategic approach and careful execution. Here at The MarkeTech Group, we have amassed nearly 30 years of experience, enabling us to share the five key practices to avoid (5 DON'T's) that have allowed us to help several companies launch effective advertising campaigns - and many other business objectives.

The 5 "Don'ts" for a Successful IDI

1. Going off script

Depending on the respondent, sometimes extra value can be collected with an off-script follow-up question, but generally, remaining faithful to the interview guide will ensure clarity, consistency, and a proper interview flow

2. Lack of Preparation

As Alexander Graham Bell said: "Before anything else, preparation is the key to success". A great amount of time and energy needs to be spent to design a well-scoped and efficient interview guide prior to conducting the first pilot IDI. Being unprepared can jeopardize everything and, in the end, be a waste of time for both the moderator, the respondent, and the client.

Examples of habits to avoid include: not logging in early (at least 10 minutes before the start), not knowing who will be interviewed, and not collecting relevant demographic information before the interview to ensure the respondent’s opinion is relevant.

3. Introducing Bias

At The MarkeTech Group, we avoid CABSI at all costs.

C onfirmation Bias:

Focusing on information that only confirms existing preconceptions.

Ex: expanding on questions that support the hypothesis, while ignoring or minimizing counterarguments.

A ncoring Effect:

Influencing a decision by providing a point of reference.

Ex: stating that the least reliable product on the market has a specificity of 30%, and asking if 45% is acceptable

B andwagon effect:

Adopting a belief simply because others are doing so.

Ex: influencing a respondent by saying that all the previous interviewees prefer product A over product B

S tereotyping

Assuming an individual has similar characteristics to the group s/he belongs to

Ex: assuming that an older respondent will not be interested in new technologies

I llusion of Validity

Overestimating the ability to make accurate predictions when relying on incomplete data.

Ex: deciding to skip a question or a probe because most respondents reported a product feature as unnecessary.

4. Bad IT

If you cannot hear or be heard correctly, an IDI will be nothing be but a waste of time. Ensuring an excellent internet connection and microphone settings for both the interviewer and the interviewee is critical.

5. Personality Matters, and Not Knowing Everything Is Not a Sin

Do not forget, an IDI is a simple conversation between 2 individuals, and being likable while remaining professional is the balance that needs to be found to get the most out of an interview.

Last but not least, as a moderator discussing with an expert in a specific field, there is no shame in admitting not knowing a given acronym or concept, Hawking once said: "The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge."

Quantitative vs. Qualitative Market Research: Choosing the Right Approach

Tue, 14 Jan 2025 17:17:29 GMT

Written by: The Marketech Group

Making smart business decisions starts with choosing the right market research approach. Quantitative and qualitative approaches offer different perspectives, each providing unique insights into customer preferences, behaviors, and market dynamics. Knowing when to use one, the other, or both can provide a clearer picture of your market and guide your product development choices. For MedTech companies, these insights are essential for staying ahead in a complex, fast-moving industry.

Understanding the Difference Between Quantitative and Qualitative Market Research

Quantitative and qualitative market research serve distinct purposes, each offering valuable insights for informed decision-making. Quantitative research delivers hard data—numerical insights that answer questions like “how many” or “what percentage.” It’s useful for identifying trends, measuring customer behavior, and making predictions.

On the other hand, qualitative research offers more context, focusing on the “why” behind decisions. Through open-ended interviews or focus groups, it uncovers deeper emotions, motivations, and opinions.

In MedTech, both methods are crucial: quantitative provides the scope, while qualitative delivers the story, enabling more well-rounded strategies for product development and customer engagement.

What is Quantitative Market Research?

Quantitative market research focuses on gathering numerical data to analyze patterns, trends, and behaviors within a target audience. It answers questions like “how many,” “how often,” and “what percentage,” providing actionable insights that can guide strategic decisions. This method is ideal for measuring large-scale customer feedback and predicting market trends with statistical reliability.

Quantitative Market Research Methods

Surveys & Questionnaires

Surveys are one of the most common quantitative research tools. They collect structured responses from a broad audience, helping to identify key trends and preferences. Our Survey Feedback Portals enhance this method by providing an efficient way to gather responses.

Conjoint Analysis

Conjoint analysis helps researchers understand how customers value different features of a product by asking them to rank or choose between product variations. Our Preference Simulation Modeling tool supports this method by providing deeper insights into customer preferences.

Van Westendorp Price Analysis

This pricing model assesses consumer perceptions of product pricing, helping businesses determine the optimal price range based on customer feedback. Our Pricing and Adoption Modeling tool enhances this process by providing data-driven insights to refine pricing strategies.

Statistical Analysis

Statistical analysis involves using mathematical methods to analyze data. It helps identify trends and relationships, providing valuable insights for informed decision-making.

Segmentation Analysis

Segmentation analysis divides a broad market into specific customer groups based on shared characteristics, allowing for more tailored marketing strategies. Our Prospect & Customer Segmentation tool is used to identify key audience insights for this method.

Advantages of Quantitative Market Research Insights

Quantitative research offers data-driven precision. It enables companies to identify patterns, quantify customer preferences, and predict future behaviors with statistical confidence. This method allows MedTech companies to target specific market segments, refine product development strategies, and assess pricing models based on reliable, large-scale feedback. Ultimately, these insights guide decision-making with objective, measurable evidence, ensuring that marketing and product strategies align with customer needs and market demand.

What is Qualitative Market Research?

Qualitative market research focuses on exploring the deeper motivations, attitudes, and perceptions behind customer behaviors. Instead of relying on numerical data, it seeks to understand the "why" behind decisions. This method provides richer, more nuanced insights that are essential for uncovering customer needs, desires, and emotional drivers, offering a more personal perspective on market dynamics.

Qualitative Market Research Methods

Controlled Group Sessions

Also known as focus groups, controlled group sessions gather small groups of participants to discuss a product or concept. Researchers guide the conversation to explore customer opinions, reactions, and preferences in a collaborative setting.

In-Depth Interviews

In-depth interviews involve one-on-one conversations between researchers and participants. This method allows for detailed exploration of individual thoughts and experiences, providing a clearer understanding of customer needs.

Ethnographic Studies

Ethnographic studies observe customers in their real-life environments to gain insights into their behavior and decision-making processes. This immersive approach reveals how products or services are used in everyday contexts.

To learn more about how these qualitative research methods uncover valuable insights, check out our Healthcare Qualitative Market Research solutions.

Advantages of Qualitative Research Insights

Qualitative research offers a deeper understanding of customer motivations and emotional triggers. By focusing on detailed, open-ended responses, it uncovers the underlying reasons behind customer decisions, going beyond surface-level data. For MedTech companies, this method is invaluable when exploring user experiences or refining product features to better align with customer expectations. It helps companies understand the emotional and functional aspects of their products, providing a foundation for innovation and meaningful customer connections. Through rich, narrative-driven insights, qualitative research complements quantitative data, creating a well-rounded market understanding.

When to Use Quantitative vs. Qualitative Market Research

Choosing between quantitative and qualitative market research ultimately depends on your objectives. Using quantitative research when you need measurable, large-scale data to identify trends, assess market size, or predict customer behavior can provide clarity and precision. It’s ideal for validating ideas with broad, statistical insights .

On the other hand, qualitative research is used best when exploring deeper motivations, emotions, and customer experiences. It provides detailed context and helps refine product concepts or marketing strategies.

If applicable, combining both approaches creates a comprehensive understanding, with quantitative data providing scope and qualitative insights offering depth for well-rounded decision-making.

Get the Best of Both Worlds with Healthcare Market Intelligence

Combining Quantitative and Qualitative Market Research for Comprehensive Insights

Combining quantitative and qualitative research methods allows businesses to gain both breadth and depth in their market insights. By integrating quantitative data with qualitative context, companies can validate statistical trends while also exploring the underlying reasons behind customer behaviors. For example, a MedTech company might use survey data to identify product adoption rates, and then follow up with in-depth interviews to uncover what drives user preferences. This approach enables more nuanced decision-making, with quantitative data providing scale and qualitative research adding essential context, enhancing product development, marketing strategies, and customer engagement.

Choosing the Right Approach for Your Market Research Needs

Lots of factors can influence the data required for effective market research, the same way the data collected can impact the insights you uncover. If you're looking for measurable data to assess trends, customer behavior, or market size, quantitative research is the best fit. It provides large-scale, objective results that can inform big-picture strategies. However, if you need to explore customer motivations, emotions, or preferences, qualitative research offers deeper, more personal insights. Often, combining both methods can provide a more holistic understanding, ensuring you capture both the scale and nuance of your market , leading to well-informed decisions in product development and marketing strategies.

Elevate Your Healthcare Strategy with TMTG’s Market Research Expertise

Elevate your healthcare strategy by leveraging The MarkeTech Group’s expertise in MedTech market research. Our specialized approach, tailored to the complexities of the healthcare industry, combines quantitative and qualitative methodologies to deliver deep insights into customer behaviors, motivations, and market trends. Whether refining product development, optimizing pricing strategies, or targeting key market segments, TMTG provides data-driven solutions that reduce risk and support informed decision-making. With our team of healthcare specialists, you’ll gain the clarity needed to navigate competitive landscapes, foster innovation, and align your strategy with the evolving demands of the MedTech market. Let’s move forward, together.

The Evolution of Marketing Research in Healthcare: From Doctors to Patients in Pharma

Thu, 12 Dec 2024 19:03:59 GMT

Written by: The Marketech Group

The journey of marketing research in healthcare is a fascinating one, reflecting both the growth of the industry and the evolving relationship between patients and healthcare providers. Over the years, the focus has shifted from doctor-centric marketing only to a more patient-driven approach, driven by advancements in technology, regulations, and consumer empowerment.

Since 1995, The MarkeTech Group has been providing global Voice-of-Customer marketing research to the healthcare and MedTech industries. Our commitment to excellence goes beyond merely uncovering customer insights; we actively address unique and complex multi-country business challenges and deliver highly actionable, strategic recommendations. This dedication has ensured that TMTG remains a leader in the field, always adapting to new trends and helping healthcare companies stay ahead in an ever-changing landscape.

Early Days: Sales Reps and Doctors

(Pre-1950s)

In the early 20th century, healthcare marketing was simple—pharmaceutical companies focused on developing new drugs, while sales reps visited doctors to promote them. There was little formal research, and patients were not part of the conversation. Everything revolved around what doctors’ thought was best for their patients. Marketing research was minimal, relying primarily on informal feedback from doctors, with little patient input. As scientific advancements began accelerating, the demand for new treatments was so vast that companies could easily find and fill niche markets without needing to compete directly.

Post-War Boom: Understanding Physicians’ Needs (1950s-1960s)

After World War II, the healthcare industry boomed. Companies began to invest in more structured marketing efforts and started conducting surveys with doctors to understand their needs and preferences. Physician surveys became a critical tool for understanding what doctors wanted in their prescribing options. This era saw the formalization of "detailing" – where reps visited doctors to discuss new drugs and collect insights. But still, marketing was all about the physicians, not the patients.

Rise of Market Research Firms and Data

(1970s-1980s)

The 1970s marked the arrival of market research firms specializing in healthcare. These firms collected vast amounts of data on prescribing trends, drug efficacy, and patient outcomes. Suddenly, healthcare companies had access to data on prescription trends, patient behaviors, and doctor preferences. During this period, the focus began to shift slightly toward understanding patient preferences.

For example, a study published by the Journal of Chronic Diseases in the 1970s highlighted how simpler treatment regimens led to higher adherence rates, indicating that convenience was a key factor. Companies started conducting focus groups and patient interviews to gather these insights, paving the way for patient-centered marketing.

The Digital Revolution and Direct-to-Consumer

(1990s-present)

The late 1990s brought a game-changer. In 1997, the U.S. Food and Drug Administration (FDA) relaxed regulations on direct-to-consumer (DTC) advertising, allowing pharmaceutical companies to advertise prescription drugs directly to US patients. This opened the floodgates to a new era of patient engagement by the pharmaceutical companies. Suddenly, patients were front and center. Companies began running TV and print ads campaigns targeting patients directly, encouraging them to ask their doctors about specific treatments. The success of these ads was monumental.

At the same time, the rise of the internet and digital tools allowed companies to conduct online surveys and run patient-focused research with more speed and efficiency. Digital research tools like email surveys and online focus groups allowed companies to gather real-time feedback from patients, revolutionizing how marketing strategies were developed and adjusted.

The Marketing Research Shift in pharma and MedTech

The evolution of healthcare marketing research reflects a broader shift in the pharmaceutical industry: from a product- and doctor-centric model to a more patient-centered approach. While marketing once relied heavily on feedback from physicians, it now prioritizes understanding patient needs, behaviors, and preferences through advanced data analytics.

However, this shift applies more distinctly to pharmaceutical marketing research than to MedTech. In the MedTech industry, marketing research practices are evolving to follow pharmaceutical trends, but patient-centricity is less prominent. Instead, MedTech marketing must consider a range of key stakeholders beyond physicians, including biomedical engineers, pharmacists, administrators, and finance professionals, whose insights are critical to decision-making in complex healthcare environment.

imagePRO Market Pulse Series: First Results

Wed, 27 Nov 2024 00:26:31 GMT

The imagePro Market Pulse (iPMP) is a new series of insights on the US radiology market provided by The MarkeTech Group.

The iPMP is a custom research with our imagePRO™ panel of over 350 USA hospital-based imaging directors and managers. In this first series, we asked the imagePRO panel to tell us who is the best vendor for MR, CT, and ultrasound equipment. We also asked which vendor is the most innovative overall and with which one they are most likely to partner in 2025 for large modalities (CT and MR) and for ultrasound equipment. All questions were single-select.

Best-in-Class Vendor

For MR, Siemens Healthineers is the clear top 1 vendor: 50% of imagePRO members selects Siemens Healthineers as the company commercializing the best MRI products (quality, reliability, and performance) regardless of price.

GE Healthcare is a strong second vendor with 37% while other vendors are all selected by 7% or less (7% for Canon, 5% for Philips, 2% for United Imaging, and 1% for FujiFilm)

For CT, Siemens Healthineers (40%) and GE Healthcare (37%) are the 2 vendors most selected as offering the best CT products. Canon is third with 18% and other vendors are behind with 2% (Philips, United Imaging, and FujiFilm).

For Ultrasound, the company commercializing the best ultrasound systems is GE Healthcare, selected by 40% of imagePRO members. Philips is second (32%) and Canon third (11%). Siemens Healthineers is selected by 7%, Samsung by 5%, Mindray by 4%, and Hologic by 1%.

Most Likely Partner for 2025

For the most likely partner for 2025, it is no surprise to find the top 3 vendors of MR and CT all together. GE Healthcare and Siemens Healthineers are most likely to be selected as vendor for CT and MR equipment in 2025 with 38% and 37% respectively. Canon is selected by 16 as most likely partner for large medical imaging equipment for 2025. The three other players (United Imaging, Philips, FujiFilm) are within the margin of error with less than 5%.

In ultrasound, the “most likely partner for 2025” order exactly reflects the “best vendor for ultrasound equipment” but with a larger difference between GE Healthcare and Philips (44% and 26% respectively, compared to 40% and 32% for best vendor), which may indicate a better commercial performance of GE Healthcare on the US territory.

Most Innovative Vendor

The most innovative vendors are Siemens and GE Healthcare, selected by 35% and 30% of imagePRO members respectively. Canon is third with 13%. This top 3 corresponds to the top vendors in large equipment (MR and CT), and may indicate that perception of innovation is mostly linked to the large modalities. United Imaging in fourth with 10% selection reinforces this hypothesis since the company only focuses on large medical imaging equipment.

Do not hesitate to contact us for deeper analysis on this first series of iPMP – the imagePRO panel can be segmented by hospital type, current install base, and many other demographic information!

ImagePRO Panel Speaks on Accessing Funding for Hospital Capital Equipment/IT Purchases.

Mon, 25 Nov 2024 19:31:57 GMT

At The MarkeTech Group, we sought to understand the challenges hospital face when trying to access capital funding and the strategies most used when financial resources are limited.

127 of our imagePRO™ panel members were asked three questions to evaluate their perception regarding access to capital funding.

Institutions primarily rely on retained earnings for capital equipment and IT purchases (71%)

The majority (71%) rely on prior-year retained earnings from revenue, indicating a preference for internally generated funds. External funding such as Bank loans (9%), long-term debt instruments, such as municipal bonds (6%), government grants (6%), philanthropy or private donations (5%), and corporate grants (4%), plays a smaller role and accounts for 30% combined. This shows that most institutions prioritize internal resources over external financing options.

Competing spending for other budget items (49%) and budget constraints (43%) are the most significant obstacles to obtaining capital funding

The most significant challenge, selected by 49% of respondents, is "competing spending for other budget items." This indicates that many institutions struggle to allocate funds for equipment due to competing financial priorities. "Budget constraints" follow closely, selected by 43% of respondents, highlighting the difficulty in securing enough financial resources. Smaller challenges include "rapid obsolescence leading to higher purchase frequency" (5%) and "insufficient ROI from equipment purchases" (4%), both of which are less significant but still notable concerns.

Equipment leasing (45%) and grants (37%) are the top strategies for departments facing limited capital access.

The most selected strategy, chosen by 45% of respondents, is "equipment leasing," indicating that many departments prefer to lease equipment to avoid large upfront costs. Grants (foundation)" is the second most popular option, selected by 37%, indicating that departments frequently turn to external funding sources when internal capital is limited but equipment purchases are still necessary. Less frequently used strategies include "pay-per-study models" (13%) and "customer/patient donations" (5%).

2024 Top Trends in the Medical Device Industry

Fri, 22 Nov 2024 16:00:02 GMT

Written by: The Marketech Group

The medical device industry in 2024 is at the forefront of innovation, with emerging technologies and evolving regulations driving both opportunities and challenges. Companies are adapting to a fast-paced environment where patient-centric care and digital health solutions are shaping the future. Here are the top trends to watch in 2024.

What Does the Medical Device Industry Look Like in 2024?

While AI, machine learning, and other new technologies are speeding the pace of medical device development in 2024, regulatory agencies are making changes that in some cases can slow progress. Additionally, the industry is shifting towards personalized, patient-centric solutions to meet evolving healthcare demands.

Key Trends in the Medical Device Industry in 2024

The medical device industry is undergoing rapid transformation, with several key trends shaping its future. As companies work to innovate and meet regulatory demands, staying on top of these trends is critical for maintaining a competitive edge. Below are some of the most impactful trends driving changes in 2024.

Increasing Use of Artificial Intelligence and Machine Learning

The medical device industry is becoming more efficient and safer thanks to artificial intelligence and machine learning (AI/ML). The ability of AI to process large amounts of data is already allowing hospitals to treat more patients with better efficiency than previously while reducing the number of human errors.

Rise of Digital Therapeutics and Remote Monitoring Devices

Digital therapeutics (DTx) and remote monitoring devices are creating a more patient-centric standard of care. DTx includes software, mobile phone apps, and wearable sensors. Remote monitoring devices allow healthcare teams to monitor patient care and intervene remotely when necessary. Glucometers, pulse oximeters, and blood pressure monitors are just a few examples of remote monitoring devices that improve patient care.

Expansion of 3D Printing and Additive Manufacturing

Additive manufacturing (AM) and 3D printing are personalizing medical care in ways that were never possible previously. Devices can be custom-tailored to a patient's individual anatomy. Patient wait times for procedures can be reduced and surgical errors can be minimized. Personal prosthetics and custom implants are now faster and cheaper to produce, improving accessibility. During the COVID-19 pandemic, 3D printing also helped alleviate medical supply shortages, showcasing its potential in emergency response situations.

Growing Use of Wearable and Biometric Devices

Wearable and biometric devices allow healthcare professionals to remotely monitor patients. These devices can also be used to gather research data and diagnose patients. They can range from simple devices like smartwatches to more complex physical implants that monitor ECG, blood pressure, and glucose levels. The data collected through these devices can also be processed with AI to generate new insights and foster developments in predictive healthcare.

Greater Focus on Cybersecurity for Medical Devices

As more remote medical technologies are being deployed, it creates a great risk for patients and healthcare organizations when it comes to cybersecurity. Care delivery and patient safety could be impacted by cyberattacks, along with private patient information. Hospitals and healthcare organizations are also vulnerable to hacking and loss of sensitive information. To combat these threats, companies are prioritizing the development of robust security protocols and real-time monitoring tools.

As cybersecurity risks grow, companies are also consolidating through mergers and acquisitions (M&A) to strengthen their market positions and technological capabilities.

Industry Consolidation and M&A Activity

Most industry insiders predict that consolidation of medical device developers and mergers and acquisitions (M&A) will continue for the foreseeable future. Mergers not only increase revenues but also allow companies to extend combined offerings to hospitals and other healthcare providers. However, rising interest rates in 2023 have slowed down this activity somewhat. Once interest rates begin declining, expect major moves in the medical device space to gain speed.

Sustainability and the Push for Eco-Friendly Medical Devices

Sustainable and eco-friendly medical devices are more attractive to a certain segment of investors. The industry trend is toward more biodegradable or recyclable medical products, and away from using more chemicals and plastics. Manufacturing and distribution processes are becoming more efficient to reduce emissions. Reusable or recyclable devices are becoming more common as manufacturers try to reduce waste in the medical device sector .

Regulatory Changes in 2024 for Medical Devices

Numerous regulatory changes are on the way in 2024 for the medical device industry. New standards and changes are expected in the US, the EU, and Mexico that will impact the industry in various ways. In the US, the FDA plans to regulate laboratory-developed tests as medical devices. The final text of the EU AI Act is expected to be finalized sometime in 2024. In Mexico, regulators will be passing new Medical Device Technovigilance rules sometime after September.

In a rapidly evolving industry, staying ahead of trends is crucial for success. Whether it’s AI-driven innovations or navigating new regulatory landscapes, companies that proactively adapt will have the competitive edge in 2024.

Leveraging Market Insights to Stay Competitive in 2024

The MarkeTech Group is a global leader in healthcare market research. We have been providing Voice-of-Customer (VOC) research to our partners in the medical device sector since 1995. We also specialize in the healthcare, pharmaceutical, and medical imaging sectors. We utilize qualitative and quantitative data collection and analysis to help meet the unique challenges of our clients in the medical device sector.

Our market research and VOC consulting help clients assess new opportunities in medical devices. We conduct dozens of studies each year to test products and ensure that they have the features customers are seeking.

Our consultants can help product teams identify target customer segments and analyze a new product's place and position in the market before launch. Our proven methodologies even help companies properly price their medical devices to maximize profits. We also conduct post-launch research to ensure that customer reactions and marketing efforts are going smoothly. From idea inception to R&D to post-product launch, The MarkeTech Group provides proven solutions at every step of development.

How The Marketech Group's Market Research Can Best Position Your Product

Ready to take your medical device strategy to the next level? Contact Us today for a free consultation, and let us help you leverage these 2024 trends to stay ahead of the competition. You can also submit a Request for Proposal (RFP) to let us know your objectives and other important factors that will help us assist you.

The Benefit of Focus Groups in Healthcare Marketing Research

Thu, 21 Nov 2024 16:00:01 GMT

Written by: The Marketech Group

Focus groups are invaluable in healthcare marketing research, offering insights that go beyond what numbers alone can reveal. By engaging directly with patients , providers , and decision-makers, focus groups uncover the motivations, preferences, and perceptions that drive healthcare decisions. The MarkeTech Group’s focus groups in healthcare are carefully designed to provide a qualitative depth that quantitative data alone can’t achieve, ensuring a comprehensive understanding of the “why” behind your audience’s behavior. Here’s a closer look at how focus groups bring essential, actionable insights to healthcare marketing research.

Understanding Focus Groups in Healthcare Marketing

Quantitative data answers the “what,” but qualitative focus groups reveal the “why.” Why do patients, providers, decision-makers, and other stakeholders react the way they do to a product or service? What factors motivate them to accept or reject a healthcare solution? By delving into these questions, you can gain a deep insight into their decision-making, so you can more accurately refine your marketing efforts.

What Are Focus Groups?

A focus group is a moderated discussion with a select group of participants that provides in-depth insights into a healthcare topic. Focus groups typically involve 6 to 8 carefully pre-screened participants, chosen from specific target segments, such as end-users, healthcare providers, or economic decision-makers. This selection process ensures that each focus group session reveals feedback that is not only authentic but directly applicable to the client’s marketing objectives. Through expert facilitation by skilled moderators, these sessions are designed to encourage open dialogue and capture the nuances of participants' reactions.

How Do Focus Groups Work in Healthcare?

A healthcare-focused session requires careful planning and expert moderation to maximize value. TMTG’s approach begins by guiding participants through a structured discussion of their current practices, challenges, and needs. This preliminary conversation helps build context, allowing respondents to share real-world experiences before being introduced to a new product or concept. From there, moderators guide participants through a structured discussion, presenting the product and asking questions designed to elicit honest, spontaneous feedback. Skilled moderators observe both verbal and non-verbal cues, capturing comprehensive data on responses and reactions. Whether held in a traditional setting with one-way mirrors for client observation or conducted online for greater flexibility, TMTG customizes each session to meet the unique needs of healthcare clients, ensuring every focus group produces actionable insights.

Why Focus Groups Are Essential in Healthcare Marketing Research

Focus groups in healthcare marketing research are invaluable for gathering consensus feedback on a product or service. Unlike one-on-one interviews, which reveal individual differences in behaviors and preferences, focus groups allow participants to discuss, validate, and build on each other’s perspectives, resulting in a more cohesive understanding of general sentiments.

TMTG’s expertise in healthcare-focused research ensures that this feedback is not only relevant but also actionable, helping clients identify overarching demand drivers and understand stakeholders’ collective decision-making processes.

Gaining In-Depth Patient Insights

Focus groups provide valuable insights into patient experiences, preferences, and concerns. Skilled moderators pose questions that draw out specific issues related to usability, comfort, and perceived value, allowing for the kind of feedback that directly shapes patient-centered products. These group discussions foster a dynamic exchange of ideas, often uncovering issues and opportunities that might otherwise remain unseen in standard survey data. Focus groups are recorded so that expert teams can analyze the respondents further. The results from a focus group should always result in a detailed research report that provides further insight and additional guidance.

Understanding Provider Perspectives

Healthcare providers bring unique perspectives to focus group discussions, especially regarding product usability and integration into clinical workflows. Conducting focus groups that gather critical feedback from providers, yields insights that enhance product design and streamline functionality. Providers’ frontline insights help refine products, ensure that innovations align with real-world healthcare settings, and meet provider needs effectively.

Exploring Consumer Behavior in Healthcare

For consumer-facing healthcare products, early-stage focus groups are invaluable for gauging consumer reactions to new products, services, and price points. Focus groups explore the perceived value, price sensitivity, and expectations of potential consumers, allowing clients to fine-tune their offerings for the best possible market fit. By understanding these factors early in the development process, clients can adapt their strategies based on real consumer preferences and behaviors.

Maximizing the Impact of Focus Groups in Healthcare

Prepare in advance for the focus group. Develop relevant questions to encourage discussion.
Choose either in-person or web-based sessions to keep focus groups cohesive and focused. This approach allows for effective moderation and ensures that all participants engage fully, whether they’re in the room together or connecting remotely.
Prepare participants in advance so they are ready to discuss insights or frustrations.
Record audio and video of focus groups in healthcare for additional insights and research material.
Use the focus group to interpret quantitative data that you have already gathered.

Best Practices for Effective Focus Groups

Select participants relevant to your study goals —whether they are patients, providers, or economic decision-makers—to ensure every voice contributes meaningfully.
Prepare questions designed to uncover depth and directly address key product or service challenges.
Clearly define your objectives to guide discussions and achieve meaningful outcomes that will support your strategic decisions.
Establish a comfortable environment for open, respectful dialogue, which is essential in healthcare-focused sessions.
Communicate clear participation guidelines so that each participant understands their role, encouraging honest and insightful responses.

Integrating Focus Group Insights with Other Research Methods

Healthcare marketing research is so comprehensive and detailed these days that focus groups, which are critically important, are just one piece of the puzzle. When you work with The MarkeTech Group as your research partner, our expert focus groups can provide insights from various perspectives to give you the deepest research possible. From assessing your initial opportunity to testing the product, segmenting and positioning, pricing for profit, and selling your product to win, all of our research methodologies are combined to work to your advantage and derive the best marketing solutions .

Combining qualitative data with quantitative data is our specialty!

Partner with The MarkeTech Group to Elevate Your Healthcare Marketing Research

The MarkeTech Group offers some of the most insightful research and marketing data in the industry, leveraging our expertise in focus group moderation and cutting-edge research methodologies. We invite you to partner with us as we work together to advance healthcare technologies, applications, devices, and concepts, driving meaningful improvements in healthcare around the world. If you’re interested in learning more or are ready to move forward, submit a Request for Proposal (RFP) with us today, and we'll be in touch with you as soon as possible.

Guide to Creating a Medical Device Go-to-Market Strategy

Wed, 20 Nov 2024 16:48:02 GMT

Written by: The Marketech Group

The competitive medical device market is expected to grow to more than $660 billion per year by 2026. Executing a strong medical device go-to-market strategy is critical for companies to survive and thrive under current conditions. The MarkeTech Group exists to help limit your risks and maximize profits upon product launch and beyond with the help of our leading marketing research and analysis. Here's what you need to know about developing a sound medical device marketing strategy .

Bringing a Medical Device to Market

Marketing pharmaceutical products, diagnostics, or medical devices has unique challenges when compared to other products or services. The industry is heavily regulated, highly competitive, and growing at a breakneck speed. You need to identify your target audience, craft a unique value proposition, and conduct competitor and positioning analysis . Those components just scratch the surface of developing a medical device go-to-market strategy.

Download our Free Go-to-Market Strategy Checklist

Plan your next launch with confidence.

Essential Elements of a Medical Device Marketing Strategy

Identifying Your Target Audience

Prospective customers in the medical device market can include care providers, patients, doctors, and other stakeholders. Companies should develop an avatar of an ideal customer for each important category of stakeholder. Avatars should include demographic information, their needs, their position in the buying cycle, their needs, where and when they are likely to purchase, and more. This data will be needed throughout the R&D phase and through product launch.

Crafting a Unique Value Proposition

Whether the device you are developing is an in vitro diagnostic system or an AI-driven app, you need to identify what problem it is solving in the marketplace. Does your product enhance the patient or provider experience, or lower costs for them? Can it be manufactured and sold at a lower price point than a competitor's product? Is it a breakthrough device or will it replace an existing product on the market? Answering these questions will help communicate the need for your medical device.

Competitor Analysis and Positioning

Competitor analysis and positioning enhance the depth of your market understanding. This process involves collecting secondary data that has already been gathered for purposes other than your current market research activities. It can include news articles, competitor press releases, their marketing efforts, and the effectiveness of those efforts. This allows you to make predictive benchmarks of your product's performance against industry standards.

Launch Your Medical Device with Confidence with Data-Driven Insight

Download our Free Go-to-Market Strategy Checklist

Plan your next medtech launch with confidence.

Steps to Developing a Successful Medical Device Go To Market Strategy

Conducting Comprehensive Market Research

Identifying market structure and the growth potential of your product helps to develop a customized roadmap for success. In-depth qualitative and quantitative research methods are needed to understand the competitive landscape and position your entry strategy to make a huge splash in the marketplace upon product launch. We specialize in the following markets at the MarkeTech Group:

Medical imaging
In vitro diagnostics
Pharmaceuticals & life sciences
Medical informatics & AI
Medical devices & diagnostics

Concept Testing and Development

Concept testing allows you to assess the appeal of your product and the willingness of the target market to adopt it. When you define the requirements of your customers at this stage, you'll know which product features to prioritize. Concept testing also helps you identify unmet customer needs. This process should include comprehensive studies on customer experience and product usability.

Market Segmentation Analysis

Our market segmentation analysis goes far beyond simple customer demographic information. The insights our strategies can provide help companies understand customer behavior patterns, preferences, and needs. This in turn leads to more impactful product and sales messaging. Continued monitoring of customer perception lets you make proactive adjustments through the life cycle of the product.

Formulating a Pricing Strategy

Selling a product or service at the right price is an extremely challenging task. Your pricing strategy must include identifying an acceptable price range, understanding the price sensitivity of potential customers, and aligning the price with your profit and revenue-maximizing goals.

Crafting an Effective Marketing and Distribution Plan

This is the point where your medical device go-to-market strategy starts to take shape. The precision data we gather throughout the process with our dedicated focus groups and stakeholders provides you with strategic market insights and distribution of your device or service. Our " Sell to Win " philosophy aids you in a more effective marketing plan. You'll be able to articulate your product's value to customers in a more meaningful and impactful way.

Executing the Launch and Monitoring Performance

Performance monitoring is vital once your product launch finally happens. A combination of qualitative and quantitative research with secondary research will have positioned you for a successful launch. Continued analysis allows you to identify potential bottlenecks in your sales funnel and make adjustments to improve. Our goal at the MarkeTech Group is to help streamline the customer journey which will lead to increased conversions and profitability.

Post-Launch Strategy for Sustained Growth

Our expert consultants come from the MedTech world, so they understand the challenges of navigating a unique medical device marketing strategy. A post-launch strategy for sustained growth is the next phase of the process to ensure long-term viability and profitability for your product. Our experts offer you marketing coaching and proprietary VOC consulting that other MedTech consulting firms lack. Put our years of experience to work to ensure that your product continues to sell into the future.

Partner with the Experts at MarkeTech Group

You don't have to develop a medical device go-to-market strategy on your own. Our qualitative and quantitative methodologies and expert MedTech consulting services are here to help you achieve a customized strategy for product launches, sales, and beyond. The MarkeTech Group's level of expertise in medical device marketing strategy is unmatched.

If you are ready to take the next step in developing a go-to-market strategy, Submit an RFP and one of our expert consultants will get in touch with you as quickly as possible!

Download our Free Go-to-Market Strategy Checklist

Plan your next launch with confidence.

Download our Free Go-to-Market Strategy Checklist

Plan your next medtech launch with confidence.

The Rise of Patient-Centric Healthcare Marketing

Thu, 14 Nov 2024 21:26:55 GMT

Written by: The Marketech Group

As patients take a more active role in their care decisions, healthcare organizations must shift from product-centered messaging to a patient-first approach. Traditional, product-focused strategies are becoming less effective as patient experience and empowerment take priority. Patient-centric marketing places the individual at the center, focusing on their needs, values, and concerns. This approach deepens engagement, builds trust, and fosters loyalty. By delivering personalized, meaningful messaging, MedTech companies can connect more authentically with patients, offering solutions that address their real-world challenges and improve the overall care experience.

The Importance of Patient-Centric Marketing in Healthcare

Patient-centric marketing is vital because it places patients' needs and values at the core of communication strategies. As healthcare consumers become more informed, traditional, feature-focused marketing loses impact. Prioritizing patient experiences allows MedTech companies to create personalized, relevant messaging that builds trust and long-term engagement. This not only enhances patient satisfaction but also leads to better health outcomes by encouraging active participation in care. Additionally, patient-centric marketing aligns with the growing demand for transparency, building loyalty and ensuring that solutions are seen as truly addressing patient needs.

Understanding the Patient-Centric Approach in Modern Healthcare

The patient-centric approach in healthcare prioritizes the individual’s needs, preferences, and values throughout their care journey. Rather than focusing solely on clinical outcomes or product features, this model emphasizes patient experience and personalized care. By actively involving patients in decision-making, healthcare organizations can provide more tailored solutions that resonate on a deeper level. This shift is essential as patients become more empowered and demand a greater role in their healthcare.

What is a Patient-Centric Approach?

A patient-centric approach revolves around treating patients as active partners in their care. It includes understanding their unique circumstances and ensuring that care delivery is aligned with their goals. Communication, empathy, and patient education play pivotal roles in this model.

The Role of Patient-Centric Healthcare in Improving Outcomes

By fostering patient engagement and encouraging shared decision-making, patient-centric healthcare leads to better outcomes. When patients feel heard and involved, they are more likely to adhere to treatment plans, leading to improved satisfaction, loyalty, and long-term health benefits.

Key Benefits of Implementing Patient-Centric Solutions

Adopting patient-centric solutions offers numerous advantages for both healthcare organizations and patients. By placing the patient’s needs, preferences, and experiences at the center of care, healthcare providers can foster deeper connections and deliver more relevant services. These solutions not only improve patient satisfaction but also support better health outcomes and long-term loyalty.

Enhancing Patient Engagement through Personalized Care

Personalized care, a core element of patient-centric solutions, increases patient engagement by addressing individual needs. Tailored treatment plans and clear communication make patients feel valued, encouraging them to take an active role in their healthcare journey. This enhanced engagement often leads to better treatment adherence and improved overall outcomes.

Building Trust and Loyalty with a Patient-Centric Focus

Focusing on patient-centric care helps build trust by demonstrating that healthcare providers genuinely care about patient well-being. Consistent, transparent communication and personalized attention foster long-term loyalty, strengthening the relationship between patients and healthcare organizations while improving brand reputation.

How to Create an Effective Patient Marketing Strategy

Creating a successful patient marketing strategy starts with a deep understanding of patient needs, preferences, and behaviors. Begin by gathering insights through qualitative and quantitative research to identify what resonates with your target audience. Segment patients based on demographics, health conditions, and preferences to tailor messaging effectively.

Next, focus on delivering personalized content that addresses patient concerns, such as educational resources, treatment options, or testimonials. Clear, transparent communication fosters trust, making patients more likely to engage with your brand.

Incorporating digital tools like patient portals, mobile apps, and social media can help foster continuous engagement. Empower patients with useful information, and encourage two-way communication to build a sense of partnership. Finally, measure the effectiveness of your strategy by tracking key performance indicators (KPIs) such as engagement, satisfaction, and treatment adherence, and adjust your approach as needed for optimal impact.

Leveraging Data and Insights for Targeted Patient Marketing

Data-driven insights are the key to crafting targeted patient marketing strategies. By analyzing patient demographics, behaviors, and preferences, healthcare organizations can create more personalized campaigns. Use tools like surveys , feedback forms, and electronic health records (EHR) to gather patient data and segment marketing efforts accordingly.

Predictive analytics can help anticipate patient needs and deliver proactive solutions or educational content. This data-driven approach enables healthcare marketers to craft messages that resonate deeply with patients, enhancing engagement and trust. Regularly analyzing and adjusting strategies based on these insights ensures alignment with patient expectations, leading to better outcomes and long-term loyalty.

Turn Patient Insights into Action

Innovative Marketing Strategies and Patient Engagement Techniques

Innovative marketing strategies play a crucial role in deepening patient engagement. By delivering personalized content through platforms like patient portals, mobile apps, and email, healthcare providers can create connections that feel more genuine and relevant to each patient’s unique needs. These tools allow for communication that speaks directly to individuals, addressing their specific concerns and making them feel understood and valued. Tailored messaging, rooted in empathy and real-world understanding, strengthens the relationship between patients and healthcare providers, helping to foster trust and loyalty over time.

Social media further enhances engagement by offering an interactive space for sharing educational content, success stories, and fostering patient communities. Encouraging patients to share experiences or participate in health-related activities builds a sense of involvement.

Another technique is the use of predictive analytics to anticipate patient needs and proactively offer solutions or resources. Gamification, such as health-tracking apps with rewards, can motivate patients to stay engaged with their care plans. By combining data-driven strategies with patient-centered content, healthcare organizations can create impactful campaigns that enhance engagement, improve patient outcomes, and build long-term loyalty.

The Future of Patient-Centric Healthcare Marketing

The future of patient-centric healthcare marketing lies in further personalization and deepening the connection between patients and healthcare providers. As technology continues to advance, integrating artificial intelligence (AI) and predictive analytics will enable even more personalized patient experiences. These tools will enhance patient engagement by analyzing vast data sets to identify individual preferences, behaviors, and needs, allowing healthcare providers to deliver more targeted and relevant interactions. AI-powered chatbots, virtual assistants, and personalized health recommendations will transform how patients interact with healthcare systems, making care more accessible and convenient.

In addition, the rise of wearable devices and health-tracking apps will provide real-time data, enabling healthcare providers to offer proactive care and personalized insights. Patient engagement will move beyond traditional communication methods, with an increased focus on fostering two-way dialogues and community-building through social media and other interactive platforms.

Ultimately, patient-centric marketing will evolve to become more integrated into patients' daily lives, offering ongoing support and education, while helping to drive better health outcomes and stronger brand loyalty.

Partner with The MarkeTech Group for Patient-Centric Marketing Insights

As patients take a more active role in their healthcare, adopting a patient-centric marketing approach will help bridge the gap between patient expectations and healthcare solutions. Putting the patient at the heart of your strategy allows MedTech companies to build stronger connections and foster genuine trust. By focusing on personalized care, clear communication, and transparency, patients feel valued and understood, leading to deeper engagement. This approach also strengthens long-term relationships and improves outcomes. Prioritizing what matters most to patients enables healthcare organizations to make a lasting, meaningful impact.

Partnering with The MarkeTech Group ensures your marketing strategies are grounded in a deep understanding of patient needs and behaviors. Our expertise in patient-centric marketing helps MedTech companies forge personalized connections that enhance engagement, improve outcomes, and build lasting loyalty. By leveraging data-driven insights, we empower you to align your messaging with the real-world challenges patients face.

Take the next step by submitting an RFP . Our team is ready to collaborate and tailor solutions to your product’s unique needs, ensuring your patient-centric strategies thrive in today’s competitive healthcare industry.

Newest Developments for Market Research in Pharmaceutical Industry

Wed, 13 Nov 2024 17:28:22 GMT

Written by: The Marketech Group

As rapidly as technological innovations are being developed in the 21st century, it should be no surprise that market research in pharma industry sectors is changing as well. Pharma organizations need to stay up-to-date and ahead of the curve on new market research methodologies, so they don't get left behind.

The Evolving Landscape of Market Research in Pharma Industry

Artificial intelligence (AI) and machine learning are allowing pharmaceutical companies to analyze vast amounts of data much more quickly and efficiently than in previous years. Data can be gathered faster thanks to digital platforms, and on a global scale. Direct stakeholders can be tapped into for both rational and emotional reactions to pharmaceutical needs and development. Market research is allowing the industry to develop better, faster, and more accurate pharmaceutical solutions . As a result, drug development is now possible at a faster pace, coupled with reduced costs and improved market access.

Crucial Role of Market Research in Pharmaceutical Industry for Success

Without insights into patient needs, market demands, and the competitive landscape, the pharma industry would be flying blind when it comes to R&D. Market research leads directly to more informed decision-making throughout the R&D, product launch, outreach, and post-launch processes. You will know that a new pharmaceutical product has achieved success when both patient and provider needs have been met while achieving profitable viability.

Market research allows the pharma industry to determine the following crucial information throughout the development process:

Product development guidance
Identifying market gaps
Analyzing potential competitors
Market size estimation
Patient feedback
Provider feedback
Regulatory limitations and compliance

Current Trends and Innovations in Pharma Market Research

Trends in Pharmaceutical Market Analysis

Companies are taking a more patient-centric approach to market analysis in the pharma industry. Patients are the ultimate stakeholder in the process and the goal is to produce products that help them enjoy a better quality of life. Utilizing focus groups to gauge patient needs early in the research process should guide efforts.

Product development and innovation have become more rapid than ever before. Implementation of AI-assisted data gathering and analysis has shortened timeframes between identifying a patient's needs and product deployment.

Commercialization strategies are also shifting, which play a large role in a pharma product's success or failure. Voice of customer (VOC) research is becoming more vital as companies are deciding when and how to launch, in which geographic regions to launch, and which demographics should be targeted for maximum sales impact.

As the pharma industry becomes more rapid in deploying products, regulatory changes are impacting the marketplace. Changes can increase or decrease the cost of R&D, or even slow the pace of innovation in the industry. Regulatory changes are never static, so being able to predict potential shifts can give companies an edge in the marketplace.

Leveraging AI and Big Data in Pharmaceutical Market Research

AI is definitely one of the biggest innovations in pharmaceutical market research. It can play a role in predicting how pharmaceutical compounds will interact with patients, even before clinical trials begin on a new product. This is already resulting in improved efficacy of pharma products and better safety profiles very early in the process. This is more on the R&D side, however.

Advanced market research techniques allow companies to compile large amounts of data--"Big Data"--that then needs to be collated and analyzed. This is a process that can take weeks, months, or years for human researchers, depending on the volume of data collected. AI can be implemented to sort, analyze, and collate data, and even make predictions based on market research if given adequate input. Advanced AI also reduces the risk of errors in data collection while ultimately reducing the time and costs associated with development.

Future of Market Research: What’s Next for the Pharmaceutical Industry?

The future of market research in the pharma industry is likely to continue leaning heavily on AI and machine learning. Eventually, DNA analysis may be added to the mix, which will then allow for increasingly personalized medical research. Using genetic profiles and medical history, pharmaceutical development in the near future could involve highly specific medical innovations for very specific patient populations.

Advanced data analytics platforms will eventually allow real-time analysis of the marketplace, including the adjustment of pricing strategies and marketing strategies based on patient profiles. Wearable devices are already beginning to provide data on the behaviors of patients and potential end users. Algorithms are also improving at market segmentation, which will soon allow improved targeting of marketing campaigns to demographic groups.

Partner with The MarkeTech Group for Cutting-Edge Pharmaceutical Market Research

The MarkeTech Group is a global leader in qualitative and quantitative research for the medical and pharmaceutical industries. We are one of the most proficient Voice of Customer (VOC) researchers in the world and we combine that with focus groups that involve direct stakeholders in the pharma development process. Helping our partners identify the needs of patients and providers has positioned us as an industry leader when it comes to advanced market research for the Pharma, Life Sciences, Medical Imaging, In Vitro Diagnostics, Medical Informatics and AI, and Medical Device sectors.

If you have any questions about The MarkeTech Group's research methodologies or how we can help with your marketing strategies from start to finish, Contact Us to speak with one of our medical research marketing experts. When you are ready to Submit a Request for Proposal (RFP) , we encourage you to choose The MarkeTech Group as your partner in market research in the pharma industry.

MICI Q4 2024

Tue, 12 Nov 2024 00:22:13 GMT

2024 MICI Q4 Shows Continued Confidence in Growth as a Profit Center

The Medical Imaging Confidence Index (MICI) Q4 2024 results show continued high confidence in the growth as a profit center and in monthly diagnostic and interventional radiology. Hospitals across all bed sizes report low confidence in receiving adequate reimbursement from Medicare.

Focus Groups

Fri, 01 Nov 2024 17:11:49 GMT

In-Depth Interviews

Fri, 01 Nov 2024 17:10:26 GMT

Observational Fieldwork

Fri, 01 Nov 2024 17:06:34 GMT

ImagePRO Panel speaks on managing the obsolescence of medical imaging equipment

Wed, 11 Sep 2024 22:26:16 GMT

Equipment Obsolescence

The rapid pace of technological advancements in medical imaging equipment often leads to concerns about obsolescence, as older machines may become outdated and less effective. This can result in increased maintenance costs and potential challenges in obtaining parts or support, ultimately impacting patient care. Healthcare providers must balance the need for cutting-edge technology with the financial and logistical implications of replacing equipment.

At The MarkeTech Group, we wanted to understand how equipment obsolescence is defined, and if vendors are expected to help ease those concerns.

141 of our imagePRO™ panel members were asked three questions to to evaluate their perception regarding equipment obsolescence.

Parts availability is the primary metric for defining equipment obsolescence.

The primary metric used by organizations to define equipment obsolescence is parts availability, with 56% of respondents selecting this option. Other metrics used include quality of output (15%), cost of operation (11%), clinical satisfaction (10%), accounting amortization (3%), and none of the above (6%). This suggests that most organizations prioritize the availability of replacement parts when determining whether equipment is obsolete, although other factors are also considered to a lesser extent.

81% of institutions have minimal to moderate plans for Equipment Obsolescence

Most institutions (55%) have moderate plans for equipment obsolescence, while 18% have extensive plans and 26% have minimal plans. Only 1% of institutions have no formal plan. This suggests that while equipment obsolescence is being addressed to some extent, there is still room for improvement in planning and preparation for this issue.

Vendors are expected to provide some tools and guidelines to help assess obsolescence

The majority, 75%, believe vendors should be involved "to a considerable extent" (38%) or "to some extent" (37%). A smaller portion, 12%, expects significant vendor involvement "to a great extent." Only 11% think vendors should contribute "to a small extent," and a minimal 2% feel there is no need for vendor involvement at all. This data suggests that most respondents see a role for vendors in helping to evaluate equipment obsolescence, but they also feel that the vendor's role should be somewhat limited.

The Cost of Healthcare Marketing Research: A Necessary Investment

Mon, 09 Sep 2024 23:33:55 GMT

Written by: The Marketech Group

Marketing research is a critical component for any organization within the healthcare industry. The insights gleaned from such research guide strategic decisions, ensuring that marketing efforts are both effective and compliant with regulatory standards. However, healthcare primary marketing research can be notably expensive . This article explores the reasons behind the high costs, the risks associated with opting for cheaper alternatives, why rigorous research is a necessary investment, and why The MarkeTech Group (TMTG) has been a leader in the industry since 1995.

The High Cost of Healthcare Marketing Research

Healthcare marketing research is inherently complex and resource-intensive for several reasons:

Regulatory Compliance: The healthcare industry is heavily regulated. Research must adhere to rigid guidelines and best practices which increase the cost due to the need for specialized knowledge and additional legal scrutiny (Kumar & Reinartz, 2018).
Expensive research participants: Physicians and medical administrators are valued, important, and expensive research participants. They are difficult to recruit because the total number of potential respondents (research universe) is much lower compared to consumer research, and they have very limited free time. At last, to fairly compensate them for their time and expertise, incentives are significantly higher than other types of respondents.
Specialized Expertise: Healthcare marketing research demands expertise in both medical and marketing fields. Professionals with such dual expertise command higher salaries, contributing to the overall expense (Ginter, Duncan, & Swayne, 2018).
Technological Requirements: Advanced technologies are often used to analyze large datasets and derive actionable insights. The acquisition and maintenance of such technologies represent significant investments (Fleming et al., 2019).

The Risks of Cheap Marketing Research

Opting for inexpensive marketing research can lead to several detrimental outcomes:

Inaccurate Data: Low-cost research often cuts corners, leading to inaccurate or incomplete data. This can result in misguided business decisions, which may harm the organization’s reputation and financial standing (Craig & Douglas, 2017).
Non-Compliance: Cheap research may overlook crucial regulatory requirements, potentially resulting in legal penalties and loss of trust among stakeholders (Kumar & Reinartz, 2018).
Poor Strategic Decisions: Inadequate research can fail to capture the nuances of patient and healthcare provider needs and market trends, leading to ineffective marketing strategies that do not resonate with the target audience (Ginter, Duncan, & Swayne, 2018).

Case Study: The MarkeTech Group (TMTG) collaborates with Philips in addressing radiology staff burnout

One notable example of successful healthcare marketing research is the case of “Philips Radiology Staff in Focus” .

In 2019, TMTG partnered with Philips in a study of 254 radiology technologists (RTs) and imaging directors (IDs) across the US, France, Germany, and the UK. The research assessed job satisfaction, stressors, and communication challenges in their daily work.

The study found moderate job satisfaction among imaging staff, but significant stress due to workload pressures, especially in Germany, where 97% reported burnout.

Automation was identified as a potential solution , with staff believing that nearly a quarter of their tasks could be automated.
Communication with Ordering Physicians and inadequate patient information were also highlighted as key issues impacting efficiency and increasing stress.

This data enabled Philips to better understand the root causes of burnout among imaging professionals and guided their efforts to develop targeted solutions . By addressing communication gaps and exploring automation opportunities, Philips is now focusing on innovations that reduce stress and improve the overall work environment for radiology technologists.

Industry Leadership: The MarkeTech Group

The MarkeTech Group (TMTG) exemplifies how rigorous guidelines, data quality assurance, and analytical work can lead to successful healthcare marketing research. TMTG specializes in healthcare marketing research and consulting, employing a comprehensive approach to ensure data accuracy and relevance.

Rigorous Guidelines: TMTG adheres to strict protocols for data collection and analysis, ensuring that all research is conducted ethically and complies with regulatory standards.
Data Quality Assurance: TMTG implements multiple layers of quality assurance to verify the accuracy and integrity of their data. This includes cross-checking data sources, validating survey responses, and using advanced statistical methods.
Analytical Expertise: TMTG's team comprises experts in healthcare, market research, and data analytics. Their combined expertise ensures that the data is not only accurate but also actionable, providing clients with insights that drive strategic decision-making.

The Value of Rigorous Research

Investing in TMTG yields significant long-term benefits:

Reliable Data: High-quality research provides reliable and comprehensive data, forming a solid foundation for strategic decision-making. This can enhance the effectiveness of marketing campaigns and improve patient and healthcare provider engagement (Craig & Douglas, 2017).
Regulatory Assurance: Rigorous research ensures compliance with all relevant regulations, safeguarding the organization against legal risks and reinforcing its credibility (Gostin, 2016).
Competitive Advantage: Thorough research helps organizations stay ahead of market trends and understand patient preferences, allowing for the development of tailored marketing strategies that offer a competitive edge (Fleming et al., 2019).

TMTG’s commitment to high standards has earned us a reputation as a leader in the field, helping numerous healthcare organizations successfully navigate complex market landscapes.

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References

Investing in TMTG yields significant long-term benefits:

Craig, C. S., & Douglas, S. P. (2017). International Marketing Research. Wiley.
Fleming, L., Waguespack, D., & Mubarak, M. (2019). Data Science in Healthcare: Applications and Opportunities. Journal of Health Informatics, 12(2), 123-139.
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). Strategic Management of Health Care Organizations. Wiley.
Gostin, L. O. (2016). Health Data Security and Privacy: Challenges and Opportunities. Journal of the American Medical Association, 315(6), 547-548.
Kumar, V., & Reinartz, W. (2018). Customer Relationship Management: Concept, Strategy, and Tools. Springer.

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Why Voice of Customer in Healthcare Market Research is Vital

Fri, 06 Sep 2024 15:00:01 GMT

Written by: The Marketech Group

Voice of customer (VoC) in healthcare is a research method that provides invaluable feedback during product development. VoC allows you to collect valuable data on the customer's needs and expectations, and how you can improve the product. The MarkeTech Group provides some of the most comprehensive VoC data collection, analysis, and research available. Here's how we do it.

Voice of Customer in Healthcare Market Research

Voice of Customer research can be utilized right from the beginning of the development phase in new medical product development. The research answers important questions such as whether the product meets customer needs, whether it fits appropriately within the clinical environment, and whether the product will be salable. The R&D phases in new medical product development can be costly and time-consuming. VoC research can reduce the development window considerably, which saves money on the front end of development.

Understanding the Voice of Customer (VoC) Methodology

The Voice of Customer (VoC) methodology is a structured approach to capturing customer insights that are critical in shaping medical products and services. In healthcare, where the stakes are extraordinarily high, understanding the precise needs and expectations of end users—clinicians, patients, and administrators—can be the difference between the success and failure of a new product.

The methodologies used by The MarkeTech Group today utilize both qualitative and quantitative research to give our customers the most valuable insights possible. We provide our customers with in-depth interviews (IDIs), customer segmentation mapping, survey panels, and tailored research methodologies for the industries we serve . These varied research methods can provide you with the most depth possible while going through the R&D process.

Importance of VoC in Healthcare Industry

VoC methodologies can ultimately improve healthcare services, enhance patient satisfaction, and benefit medical devices and products if done correctly. Both patients and caregivers have proven to be willing to share their experiences with healthcare products, which presents tremendous opportunities for developers. Using the latest technologies to gather these valuable stakeholder insights, The MarkeTech Group can provide its clients with some of the most advanced and in-depth research and insights possible.

Implementing Qualitative Research for Capturing VOC

Qualitative research from The MarkeTech Group can involve in-depth interviews (IDIs), controlled groups for convergence and consensus, and observational field studies for out-of-the-box thinking. Our qualitative research interviewers are experts in marketing methods, moderation techniques, and "domain" or clinical knowledge. This allows you to extract the innermost motivations of the customers and experts being interviewed in an unbiased manner. Qualitative research allows you to collect rich data regarding the customer experience with new product development.

Leveraging Quantitative Data to Augment

VoC Insights

Our quantitative methodologies at The MarkeTech Group provide you with pricing research and a best-of-breed approach to pricing analysis. You will be able to make more accurate profit projections thanks to economic value analysis, price elasticity analysis, and demand/market model analysis. This aids our customers in identifying untapped niches and refining their product positioning. Through customer segmentation mapping and perceptual mapping, our quantitative methodologies will help you identify customer perception and behavior before you have even developed a prototype.

Testing Products with Voice of Customer Feedback

Once you have a working prototype, The MarkeTech Group can offer you the opportunity to get answers to questions immediately from industry stakeholders and healthcare professionals. ChatPRO ™ from The MarkeTech Group provides the following elements to our clients to receive VoC feedback:

5 to 20 participants
Real-time chat conversations
Chat live within five days of project approval
Professional moderation
Transcript available within 24 hours

This allows you to obtain direct, objective, and unfiltered customer feedback from screened participants. You can also identify customers' pain points, potential barriers, and uncovered sales roadblocks.

Conducting live phone or face-to-face interviews with healthcare professionals can be extremely challenging. ChatPRO™ from The MarkeTech Group is the solution.

Market Segmentation and Voice of Customer Analysis

Using both the qualitative and quantitative marketing research gathered, The MarkeTech group can then provide market segmentation analysis on your new product development in healthcare. We utilize Cluster analysis, CART/CHAID, and other analytical techniques to segment your potential customers for you. This is part of the quantitative research process and typically follows the qualitative interviews. Market segmentation allows a developer to focus on the customers who are most likely to purchase their product or service. Once this process is complete, you can craft marketing messages that specifically target customers who are most likely to need the product.

You might be wondering, "But what about my potential competitors?" That's where perceptual mapping -- the opposite side of the market segmentation coin -- comes into play. Perceptual mapping unveils the differences between your new product and any competing brands. It allows you to place more emphasis on changing customers' perceptions about your product. Perceptual maps provide a single chart that busy decision-makers can use to take action during the product development process.

Enhance Your Strategy with Marketech Group's VoC Insights

The MarkeTech Group's Voice of Customer in healthcare insights helps developers achieve successful product launches, thanks to our approach that uses both quantitative and qualitative methodologies. We offer tailored research solutions and product testing to the medical industries we serve, which include:

Medical imaging
In-vitro diagnostics
Pharmaceutical and life sciences
Medical informatics and AI
Medical devices and diagnostics

As just one example of the type of comprehensive VoC research we can provide, we offer our clients access to ImagePRO ™, a longitudinal panel of more than 600 U.S. hospital-based imaging directors and managers. ImagePRO™ offers valuable insights from more than 25 percent of the nation's hospital purchasing power in one location. It allows our clients to accurately predict the success of new products, choose the correct pricing point for the product, and understand brand positioning next to competitors. The MarkeTech Group's level of expertise in the quantitative and qualitative Voice of Customer in healthcare research is unparalleled.

Submit an RFP to The MarkeTech Group today to start the research process on your new healthcare product development!

Strategies for Successful Healthcare Product Development

Thu, 05 Sep 2024 16:10:49 GMT

Written by: The Marketech Group

Successful healthcare product development hinges on conducting adequate research and analyzing the correct data points before the product launch. Many startups in healthcare product development fail because of inadequate data analysis of the market landscape, key user groups, market testing, and more. The MarkeTech Group specializes in qualitative and quantitative methodologies to assist companies in healthcare marketing research, from the earliest stages of development.

Let's take a closer look at new product development in healthcare and how The MarkeTech Group can partner with you to help your company achieve its goals.

Understanding the Healthcare Market Landscape

Current Trends and Challenges

One of the main trends in healthcare product development today is the rush to new technologies for diagnosing and treating patients. Here are just a few examples:

Telemedicine: The pandemic revealed a need for telemedicine as a convenient and effective way to treat more patients.
Healthcare AI: Artificial Intelligence is being used to enhance the diagnosis and treatment of patients, along with many other applications.
3D Printing: 3D printing has many applications for providing patient-specific implants and surgical models.

The challenges in developing new healthcare products have remained largely unchanged in recent years, such as rising costs for services and the shortage of healthcare experts. Some additional challenges include:

Regulatory Compliance: Different countries have different regulatory requirements, which can make the approval process extremely complicated.
Data Security: As more connected technologies are developed, patient data security becomes even more critical. Many organizations lack the skills or tools to protect patient data.
Adopting Innovative Technologies: This requires time, data, resources, support from clinicians, and more.

Market Insights and Customer Motivations

One of the main customer motivations is the desire for an end-to-end healthcare experience. Consumers are also actively shopping around and choosing the more affordable options when it comes to receiving care. Patients also trust their data with the medical industry, but healthcare organizations are not taking advantage of insights from that data.

Stages of New Product Development in Healthcare

Concept Development and Testing

Once your initial concept is developed , testing should be conducted to ensure the product will have the features customers will value the most.

Business & Market Analysis

Market analysis should delve into many crucial aspects of developing a new product. This includes analyzing the needs of the target market, growth potential, barriers to entry, existing competitors, and much more.

Product Development

The product development phase is when design really begins on the new product. This will involve more research and planning until eventually, your organization can begin prototyping the product.

Market Testing

Properly testing the product gauges the user experience with it. Testing will also identify bugs or areas for improvement. Without proper testing and analysis, it can add to the project's development time frame and cost.

Commercialization

Launching the new product in the marketplace and commercializing it is the final stage of healthcare product development.

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Engaging Key User Groups

Clinicians

Clinicians should be considered one of your main stakeholder groups when it comes to new product development in healthcare. Clinicians are sometimes wary of new products out of fear that they will reduce their ability to provide patient care. A benefits-driven approach that lets clinicians know how the product will improve patient outcomes and provide value is critical. Locating a clinician who understands and values your product will carry a lot of weight with additional clinicians who may be skeptical of how it will enhance patient care.

Patients

While clinicians are the primary end-users in healthcare product development, understanding patient needs can still provide valuable insights, especially in ensuring that the end product is user-friendly and secure. In general, patients are generally more likely to embrace new technology than clinicians because the products often give them greater control over their healthcare. They do, however, require reassurance that their personal data is safe and protected. If your product cannot assure them of this, it can put the success of the venture at risk.

Best Practices for Healthcare Product Development

Conduct adequate preliminary research before development even begins. Does your idea for a product solve a real problem for end-users? Have you identified all the key stakeholders? Are there competitors offering similar products in the marketplace? Work with subject-matter experts or clinicians to determine the viability of your product.

Making the user experience a high priority during new product development in healthcare is critical. This requires research and testing to ensure that a new product somehow improves the customer experience. Research to gauge the behavior of both patients and clinicians is also vital through the development stage.

Once you have created a prototype for the new product, test it in relevant conditions to gauge its worthiness and utility. Testing will generate data about the product's performance and can ultimately reduce development time and costs, especially if problems or bugs are identified early.

While navigating regulatory compliance is crucial in healthcare product development, it's essential to partner with experts who specialize in this area. By collaborating with regulatory consultants, you can ensure that your development, testing, and manufacturing processes align with the necessary regulations, paving the way for a smoother product launch.

The MarkeTech Group: Your Partner in Healthcare Innovation

The MarkeTech Group is dedicated to providing qualitative and quantitative research data to MedTech organizations involved in new product development in healthcare. The healthcare segments we specialize in include:

Our healthcare marketing research services aid MedTech organizations in identifying market structure and growth potential for new product ideas. Our experts can aid in defining product and sales messaging to reach a broader and more diverse target audience. Our data analysis can also help identify a new product's acceptable price range and price sensitivity so that your strategy will result in more product sales.

If you'd like to learn more about the MarkeTech Group's proven strategies for providing top-quality market research, reach out to us or submit a Request for Proposal (RFP) through our website.

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Plan your next medtech launch with confidence.

Download our Free Go-to-Market Strategy Checklist

Plan your next launch with confidence.

ImagePRO Panel speaks on the potential risks of AI in radiology and liability concerns

Thu, 29 Aug 2024 23:17:18 GMT

The Risk of AI in radiology

Integrating AI in radiology could present significant risks, including potential diagnostic errors due to algorithmic biases and limitations. Additionally, over-reliance on AI can decrease radiologists' clinical skills, compromising patient care quality. Ensuring data privacy and security in AI systems also remains a critical challenge, given the sensitivity of medical information.

At The MarkeTech Group, we wanted to know the level of concern regarding the business implications of AI in radiology, identify the most pressing business-related issues with AI in this field, and gauge accountability in case of misdiagnosis.

139 of our imagePRO™ panel members were asked three questions to evaluate their perception regarding AI in radiology.

Only 1/5 reported not being at all concerned by Ai in radiology.

While 47% of respondents indicated they were somewhat concerned, one-third of the image PRO ™ respondents expressed significant concern about the future business implications of AI in radiology. This indicates a growing awareness and apprehension within the medical community about how AI advancements might impact business operations, financial stability, and professional roles in radiology.

25% said that "results bias due to overrepresentation of certain groups in training data" was their top concern.

Concerns about "lack of transparency," "threats to patient privacy," and "inequitable access" are among the primary concerns cited by 20% regarding AI in radiology. These concerns highlight the potential ethical and practical challenges that AI integration may pose in the medical field. Conversely, only 7% of our panelists reported that "fewer job opportunities for radiologists" was a significant concern, suggesting that job security is currently perceived as a lesser issue compared to the broader ethical and access-related implications of AI technology.

A notable 61% of our panelists agree or strongly agree that AI tool manufacturers should be held accountable in the event of a misdiagnosis.

Less than 20% disagree or strongly disagree with the statement that the company creating the AI tool should be held accountable for any misdiagnoses that result. This minority viewpoint contrasts with the majority opinion, reflecting a broader consensus on the importance of corporate responsibility in using AI technology in radiology

The Stages of Medical Device Development

Wed, 21 Aug 2024 20:53:03 GMT

Written by: The Marketech Group

Medical device product development is a detailed process that includes multiple steps for safety, effectiveness, and quality assurance. Device development begins in a laboratory where it is given a classification by the FDA based on the level of risk it may pose to consumers. The classification determines the rest of the development process.

Following classification, a prototype is created, and animal testing may take place for safety analysis. Once this step has been successfully completed, testing moves on to human subjects to measure efficacy. All of the data collected in the first steps are then submitted to the FDA for a thorough review process. After FDA approval, the device continues to be monitored for safety and will be prepared for a market launch.

Understanding Market Research in Medical Device Development

Medical device product development is driven by consumer need. However, that need can vary based on the device’s usefulness and the specific field in which it will be employed. The development of a new device carries risk if qualitative and quantitative research has not been completed on the current medical device market.

Performing market research is an essential step toward the development of a successful device. Such research will provide information on local competition, market dynamics, growth potential, and factors that drive consumer behavior. With these data in hand, development can begin that targets a specific need within the medical device community.

Medical Device Product Development Phases

Developing a new medical device involves 5 phases that require the device to be proven safe and effective at each step. These phases are:

Ideation and Conceptualization
Design and Prototyping
Preclinical Testing

4. Clinical Trials

5. Regulatory Approval and Market Launch

Phase 1: Ideation and Conceptualization

The development of a new medical device begins with identifying a patient’s need within the medical community. Once this has been isolated, conceptualization can begin regarding the type of device required to meet the need. During conceptualization, it is essential that the design team account for medical, biological, engineering, and patient-related factors. This will ensure the materials used are suitable for use in a human within a medical setting.

Also necessary during the ideation and conceptualization phase is market research that has been conducted using qualitative and quantitative methodologies. This research will provide information regarding similar devices currently on the market, patient satisfaction with these devices, the level of patient need within a medical setting, and which features patients are most likely to find financially worthwhile. The information gained during detailed market research allows the conceptualization phase to focus on what is most important to both patients and the medical community.

Phase 2: Design and Prototyping

To develop a prototype of a new medical device, designers must approach the concept from a medical, engineering, and market use perspective. Devices intended for use on or within a human body must meet strict clinical criteria which include the type of metal or material being used, the risk level to the user, the underlying medical factors of the intended user base, and the environment in which the device will be used. All of these aspects must be combined with engineering limitations and feasibility.

Once a prototype has successfully integrated all of these factors, it can be tested in a laboratory setting. The results of this testing will be used to further modify and refine the design. Marketing research will also provide valuable insight into whether or not the prototype is meeting the current needs of the intended user.

Phase 3: Preclinical Testing

Preclinical testing involves using animal models, computer simulations, or an imaging phantom to determine the safety and effectiveness of the prototype. Conditions are created that closely resemble the conditions expected in a human subject, so the results can be used to make applicable and necessary modifications prior to clinical trials.

Phase 4: Clinical Trials

Clinical trials for medical devices include 4 stages:

First-in-human stage – 10–40 participants are selected to determine the early-stage safety and efficacy of the device.
Traditional feasibility stage – once the device has passed stage 1, the device is considered almost finalized. It will be tested on a group of 20–30 patients.
Pivotal stage – the device is tested on a group ranging between 100–300 patients. A control group of patients who do not use the device is included to provide a baseline for further analysis.
Post-marketing surveillance phase – the device continues to be monitored once it is available to the general public for safety and efficacy.

The clinical trial phase provides another opportunity for market research when it comes to setting a price point , further narrowing down the target population, and predicting user appeal .

Phase 5: Regulatory approval and Market Launch

Once the device has completed clinical trials, the FDA will collect all of the data and determine if the product meets regulatory requirements. Following FDA approval, it will then be ready for its market launch.

Launching a medical device requires proper strategy, distribution, marketing, and product positioning. This will ensure it reaches the target audience and is set at a price that will increase the ROI. Market research into competitors, patient need, distribution channels, and market segments will provide insight into appropriate price points and strategies.

Bringing Your Medical Device to Market

The device development process is only the first step in creating a medically and financially successful product. Creating a place in the current market and maintaining a sound ROI throughout the life of the device requires comprehensive market strategies and research. MarkeTech provides its clients with thorough, intelligent, and accurate market insights that will ensure their product is strategically placed for maximum success.

The MarkeTech team specializes only in healthcare and medical technologies and has diverse backgrounds and experience in clinical science, medical marketing, and advanced statistics. We specialize in fields that include medical informatics, AI, medical devices, diagnostics, pharmaceutical science, life science, medical imaging, and in-vitro diagnostics.

Contact us today to submit an RFP and discover how our marketing services can bring your medical device to the next level.

MICI Q3 2024

Mon, 19 Aug 2024 21:03:49 GMT

2024 MICI Q3 Shows More Confidence in Capital Access than Q2 2024

The Medical Imaging Confidence Index (MICI) Q3 2024 results indicate less confidence in monthly volume growth, but more confidence in access to capital for imaging equipment and IT needs.

The TMTG Minute - Value-Based Care Evaluation Post-COVID 19

Thu, 01 Aug 2024 23:41:05 GMT

Interview with*:
Bruno Piquin, Chief Executive Officer, Ensure Data Solutions

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Read the full interview here .

View the full Minute PDF as a standalone document here .

The TMTG Minute - Sustainability in MedTech: Innovating for a Greener Future

Fri, 12 Jul 2024 17:20:01 GMT

Interview with*:
Megan Maltenfort, Vice President of ESG at Cardinal Health

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Read the full interview here .

View the full Minute PDF as a standalone document here .

MICI Q2 2024

Tue, 30 Apr 2024 23:08:38 GMT

2024 MICI Q2 Shows More Confidence in Growth Than Q4 2023

The Medical Imaging Confidence Index (MICI) Q2 2024 results indicate more confidence in growth, but less confidence in reimbursement and costs.

CHOICE-BASED CONJOINT: GAUGING CUSTOMER PREFERENCE

Tue, 23 Apr 2024 00:19:30 GMT

Why Conjoint?

Conjoint is a technique that creates realistic consumer choice situations and forces respondents to choose among a variety of products with different features and prices. Analyzing these tradeoffs helps researchers to understand what features are more important (relatively speaking) than other features. If we ask someone about the importance of a feature, we tend to find that everything is important. However, when forced to choose among various product sets, we can determine which combination of features has the highest preference and identify a price that maximizes preference for respondents and profit for our client.

How Can TMTG Help?

While conjoint seems like an accessible tool offered in most survey platforms that can be used to help your team design / test new products, reliably analyze willingness to pay, optimize a portfolio of products, make pricing decisions, or even test brand premium, the science and art involved for robust data and trustworthy is essential and not trivial. Conclusions drawn from conjoint analysis will only be as good as the initial model design . The choice of attributes and levels needs to take into account current and future competitive offerings and choice tasks must feel realistic and engaging, which requires careful consideration of the number of tasks, number of profiles, attribute and level design, and timing. The MarkeTech Group has over 20 years of experience guiding top-tier health care companies through the conjoint design process and providing their teams with high-quality, actionable results.

Number of choice tasks

Choice tasks show several product variations or profiles for respondents to choose from. The respondent selects their preferred product on each screen after comparing the products available. Each new screen will have a different set of products. The more tasks that are seen, the more data that is available to create a good estimate of preference. Studies with a small number of attributes and levels can be performed with as few as 4-6 tasks per respondent. Larger studies can take as many as 12 or more tasks per respondent. TMTG recommends between 8 and 12 tasks for most discrete choice studies.

Number of Profiles

Think of profiles as the products included in each choice task. Recent research suggests that 2-3 per screen may be optimal to ensure respondents are engaged and making decisions based on all the features rather than a select few. TMTG generally recommends no more than three per screen. This is because our studies tend to be about products with complex engineering features that are often innovative. Respondents are likely to be unfamiliar with these features and so evaluating each profile will require more cognitive effort than many basic consumer studies . As such, it is important not to overwhelm them with too many choices per screen.

Attributes and Levels

Attributes are overarching features or benefits of a product or solution that are relevant for customer choice / purchase decision. Features such as color, size, or speed or benefits such as workflow improvement or cost savings are good examples of attributes because they can be broken down into discrete categories which are called levels. For example, levels within the ‘color’ attribute would be any color considered for the product.

The most important rule when designing a conjoint model is that the attributes must be independent of one another – not collinear. For example, if assessing a car, we know that horsepower, engine size, and gas mileage are collinear. A high-horsepower engine will not get as good of gas mileage as a smaller, lower-powered engine. As such, it is important to design a conjoint study that has minimal or no collinear attributes.

It is also advisable not to have a large number of attributes . Too many attributes will overwhelm the respondents when making product choice decisions and likely result in an outcome that does not reflect market reality. As experts in conjoint design, TMTG recommends that the exercise be limited to seven or fewer attributes to focus only on the most salient features that would differentiate between two similar products. Some researchers exceed our recommendation and it will depend greatly on the type of product and the complexity of the attributes – more complexity and samples smaller than 100 will likely require fewer attributes.

It is similarly important not to have a large number of levels within a given attribute. We recommend between 3 and 5 levels per attribute . It is acceptable to exceed five levels, but use caution and consider the effect it could have on the cognitive effort required for respondents. More levels can make one attribute appear more important than other attributes, although the use of hierarchical Bayes to estimate individual utilities has largely mitigated this concern.

Timing

The amount of time spent in a conjoint exercise depends on the number of choice tasks and profiles. The first task always takes the longest because respondents need to become familiar with the exercise and layout. Based on our extensive experience with conjoint in the MedTech space, an average US respondent takes between 35-45 seconds on the first task (3 products per task) and the second task requires 20-25 seconds. EU respondents generally take longer to evaluate the first 2-3 tasks before their speed improves. Both US and EU respondents tend to average 15 seconds per task by the end of the exercise .

The Future of Deep Learning Algorithms in Healthcare

Mon, 11 Sep 2023 19:34:47 GMT

Interview with*:
Mr. Tomer Levy (TL), MBA, VP, Strategic Portfolio
Mr. Evgueni Loukipoudis (EL), PhD, CTO/CIO, Imaging Workflow & Care Solutions

Artificial Intelligence and Deep Learning have been at the forefront of Medical Technology conferences for several years and there is no doubt that Healthcare will be transformed to achieve “more with less”. However, it is increasingly difficult to cut through the hype and understand what level of AI integration customers are truly prepared for.

In TMTG’s latest edition of The Minute, we discuss some of the tactical approaches that healthcare IT companies are taking to bring practical AI solutions to market. We also provide the results of a short study conducted with our imagePRO™ panel on market readiness for new AI solutions.

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Read full article here .

See Interview notes here .

Improved profit through early integration of customers' needs - The Minute

Mon, 11 Sep 2023 19:29:11 GMT

Interview with: Mr. Rich Fabian, COO of FujiFilm SonoSite

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Read the full interview here .

View the full Minute PDF as a standalone document here .

MICI Q4 2022

Wed, 06 Sep 2023 15:43:04 GMT

2022 MICI Q4 shows very high confidence in study volume and profit center growth

The Medical Imaging Confidence Index (MICI) Q4 results shows very high confidence in study volume and profit center growth, but lower confidence in receiving adequate reimbursement

INCREASING TREND OF FLEET CONVERSION IN THE IVD MARKET

Mon, 04 Sep 2023 15:36:38 GMT

Today, leading healthcare institutions tend to consolidate capital equipment with a single vendor, also known as fleet conversion. While this trend is widespread in many areas of healthcare, it has not been a common practice for IVD equipment, which has begun to change for several key players. TMTG sat down with executives at major diagnostics providers to discuss what is driving this trend and the future of the industry.

Laboratory consolidation is driving fleet conversion

"The reduction in the number of suppliers is a real trend, but not to the point of having all the different devices provided by one unique provider” (IVD Equipment Provider, Segment Manager). This movement emerged as laboratories began to consolidate in recent years. "For instance, we had 7,000 customers in France 5 years ago, we have now 1,700. It is a necessity to change our approach in the organization of sales teams or the repositioning of some products” (IVD Equipment Provider, Segment Manager).

While this is an emerging trend, it is not yet a widespread practice. The majority of laboratories still have several suppliers. "Less than 10% of our customers are 100% equipped by our brand in microbiology” (IVD Equipment Provider, Market Research Manager).

Conversion has been slow due to the difficulty for a single supplier to provide the diverse equipment required for the different IVD specialties. Only specific activities, such as biochemistry and immunoassay, can easily be grouped on large systems in laboratories. "It is not possible to compare IVD with medical imaging. No IVD vendor is able to provide all the material needed to cover all areas of IVD” (IVD Equipment Provider, Segment Manager).

Fleet conversion meets unmet laboratory needs

Fleet conversion may address two main pain points for laboratories. First, standardization of lab equipment provides enough scale for laboratories to leverage cost reductions from a single supplier. "Customers are looking for scale savings by negotiating with a single supplier (for orders, invoices, etc.)" (IVD Equipment Provider, Market Research Manager). Second, fleet conversion answers customers’ requests for trust and improved service from the manufacturer. It improves the overall quality of service by enabling data consolidation and traceability. "We have ‘middleware’ allowing our devices to connect together and improve sample traceability. Customers look for continuity that binds the instruments together and provides consolidated data across the entire process” (IVD Equipment Provider, Market Research Manager).

Fleet conversion also benefits manufacturers. An integrated offer makes it possible to improve the efficiency and productivity of the service provided to laboratories. “Being implemented in a smaller number of customers, but with only equipment of our brand, it is simpler for us; we can be more efficient and productive" (IVD Equipment Provider, Market Research Manager). Manufacturers may face commercial (vs. technical) challenges in regards to fleet conversion. They are increasingly tasked with communicating the added value of standardization to laboratories. They also face a paradox: differentiating themselves from the competition by being recognized for their specialty, while also being able to offer a specialist level of service in all fields. "Customers want to have several technologies, but only one provider, which is not necessarily always compatible. I do not know any IVD vendor able to provide everything, it's impossible." (Clinical Diagnostics provider, Market Research Manager).

Fleet conversion will require collaboration and managed service contracts

“Providing an all-in-one offer to laboratories is not part of current strategies because vendors want to keep their specificities and distinguish themselves from competitors by their know-how in certain areas. It's utopian to want to sell everything” (IVD Equipment Provider, Segment Manager). Some laboratories, especially academic ones, need an extremely specialized offer in only one or two fields. They may not trust the specialist vendor for the remaining laboratory equipment.

The majority of equipment vendors won’t expand their portfolio to meet market demand, but may potentially increase collaboration between IVD vendors to propose a comprehensive offer. The world of medical biology is split into three major applications - microbiology, immunology or molecular biology - whose needs may be radically different. Thus, collaboration between specialists in their respective expertise areas is crucial for manufacturers to meet customer needs for fleet conversion. "We are always willing to work in association / collaboration with our competitors." (Clinical Diagnostics provider, Market Research Manager). "I do not believe at all that one supplier can ever satisfy a laboratory on every aspect. There will always be specificities and so many different techniques and equipment” (IVD Equipment Provider, Segment Manager).

Finally, while not able to supply all IVD equipment, vendors lean towards the trends to meet the needs of a single and privileged interlocutor. "Managed service contracts” have been developed in the UK and Northern European countries and consist of selecting only one supplier to manage the back office (deliveries, orders, etc.). This supplier must then pick up all the products requested by the laboratory from other companies” (IVD Equipment Provider, Segment Manager).

IMAGEPRO™ PANEL SPEAKS ON CURRENT PATIENT ENGAGEMENT TRENDS

Thu, 31 Aug 2023 15:06:11 GMT

The healthcare industry is transitioning to place larger emphasis on patient engagement.

In order to gain a better understanding of patient experience, The MarkeTech Group surveyed over 200 members of our imagePRO™ panel, which consists of administrative directors in imaging and radiology.

There were three key findings from the study:

71% of respondents stated that radiology results are communicated through a physician , and not discussed with the radiologist.
In the radiology department, 29% of respondents stated that patient communication is a top priority, but 63% stated that workflow/productivity and cost efficiency can take precedence.
Finally, patient demand/HCAHPS scores are the largest drivers for adopting new patient engagement platforms.

As reimbursement strategies shift and overall patient well-being and experience become a greater priority, the communication platforms for patients will be at the forefront of the healthcare system.

Explore our website to learn more about our imagePRO™ panel and how The MarkeTech group can help you better understand the patient experience to aid in future business developments.

SCALES AND MEASUREMENT:

Mon, 28 Aug 2023 14:33:40 GMT

Why do we measure?

Measurement is used to understand how people respond to items (question options) in questions. Often referred to as scales, they can be categorical such as hospital type or gender or on a continuum such as age, year, or with varying degrees of something such as importance, satisfaction, etc.

Continuous Scales

Continuous scales are the cornerstone of all modeling and significance tests. They are sometimes simply numbered 0 to 10 or other times use text as anchors and then assigned numbers to represent each item. Scales should be created such that smaller numbers represent less of something and larger numbers represent more of something. For continuous scales such as importance or satisfaction, TMTG recommends 5-point scales (there are exceptions) with each point anchored along the continuum.

In some cases that might include a neutral point with two negatives and two positives (e.g., an agreement scale). Literature in this area demonstrated that variance does not change whether the scale has 5, 7, or 9 items. Anchoring text with 5 items is generally easy to design, and the scales are easy for respondents to read, comprehend, and complete.Agreement can be a balanced scale with a neutral midpoint.

Seven-point scales are more difficult to anchor and 9-point scales are almost impossible to anchor. Using a 1-10 scale with 10 being most of something is fairly common among people who do not understand measurement. The challenge is determining what some value in between means to each individual. Does a 7 have the same meaning for all respondents? Is a 5 the midpoint (no)? Using text to anchor each option ensures that all respondents see the same thing and are presumably responding in a manner that is consistent with other respondents.

Importance and Familiarity

Importance and familiarity are by definition a true continuum . Some scales have a midpoint that is neutral or ambivalent. However, the aforementioned areas do not. If one is ambivalent about importance then it is not important. Neither can one be ambivalent about familiarity. It is important or not or you are familiar or not; there is no neutral.

A common importance scale is: Not at all important, somewhat important, important, very important, and extremely important. This provides gradations of importance that maximize variance among respondents. Variance is a critical component of advanced data analytical techniques.

Familiarity is often used as a screener question to determine if the correct respondents are qualified to participate or if certain products/brands can be rated as a follow-up. We often use a 4-point scale with additional text such as: Not at all familiar (never heard of it), somewhat familiar (heard of it, but do not use), familiar (use it or have used it recently), very familiar (use it frequently).

Other Scales

The Juster Purchase Probability Scale is used in the extension questions of the Price Sensitivity Meter method (Van Westendorp), and is one of the few examples of anchoring an 11-point scale with both numbers and text descriptions.

The Juster Scale for purchasing intention measurement:

No chance, almost no chance (1%)
Very slight possibility (10%)
Slight possibility (20%)
Some possibility (30%)
Fair possibility (40%)
Fairly good possibility (50%)
Good possibility (60%)
Probable (70%)
Very probably (80%)
Almost sure (90%)
Certain, practically certain (99%)

So what?

To ensure quality results it is critical to have consistent measurement as measurement is the foundation of a good analytical plan. There is no statistical technique that can be applied later to make up for a scale that is not measuring what is intended. If you want meaningful results, it starts with proper measurement.

Further details on quantitative methodologies:

Improving Online Survey Efficiency : using conjoint analysis to understand preference for online survey layout

IMAGEPRO™ PANEL SPEAKS ON BLOCKCHAIN

Wed, 23 Aug 2023 15:01:29 GMT

How familiar are you with blockchain as it pertains to medical imaging?

Although mainly known for its applications in cryptocurrency, such as Bitcoin, blockchain has vast usage in the medical field, ranging from cybersecurity to artificial intelligence. Blockchain is a decentralized system that stores data in a ledger, making it more secure and robust than traditional data structures. The data is managed by a cluster of computers, rather than a single entity, which makes tampering nearly impossible.

In order to gain a better understanding of the healthcare industry’s knowledge and perception of blockchain, we surveyed our imagePRO™ panel, consisting of imaging and radiology administrative directors.

From the study, we found that:

Most respondents are not at all familiar (71%) with blockchain as it pertains to medical imaging.
Respondents believe their respective institutions are more likely to adopt blockchain technology if it can provide easier image access and sharing (32%) and enhanced cybersecurity (26%).
Most respondents are pessimistic (86%) about the likelihood of adopting blockchain for medical imaging applications in the next 5 years.

With transparent, secure, and trackable data, blockchain offers solutions to interoperability problems, such as identifying patients and information flow. Additionally, it can support AI and machine learning applications by allowing them to draw from a larger pool of images, in turn, improving overall information quality.

Explore our website to learn more about our imagePRO™ panel and how The MarkeTech Group can help you impact the healthcare industry.

IMAGEPRO™ PANEL SPEAKS ON STAFF BURNOUT

Tue, 15 Aug 2023 14:28:05 GMT

Has burnout had a negative impact on the quality of patient care in your department?

As hospitals are being forced to do more with less, burnout among imaging professionals seems to be on the rise. Burnout can have widespread effects within imaging departments, sometimes resulting in a negative impact on the quality of patient care. The MarkeTech Group recently surveyed our imagePRO™ panel to gauge staff burnout and how it can be addressed within imaging departments.

Almost all respondents report some degree of burnout in their department

Burnout can take many forms including fatigue, lack of motivation, and missing work. When asked what percentage of their department has experienced burnout within the last 12 months, 93% of respondents reported that at least 1 to 5% of their department have experienced burnout, while 46% responded that more than 10% of their department have experienced it.

Burnout negatively impacts patient care for the majority of respondents

Participants were then asked to what extent they agreed or disagreed with the following statement: “Staff burnout has had a negative impact on the quality of patient care in my department.” 72% of respondents somewhat or strongly agreed with the statement, suggesting that burnout not only affects staff, but patients as well.

Research shows that burnout for physicians, technologists, and other imaging professionals can lead to lapses in patient care and safety. For example, an overburdened technologist may use an incorrect protocol when preparing a study, which could negatively impact image quality, patient throughput, and study accuracy. Additionally, burnout can result in economic consequences for hospitals. If technologists miss work or reduce hours due to burnout, imaging departments may be left understaffed and unequipped for studies.

Communication and automation may be key in reducing burnout among staff

It appears that steps can be taken to address this issue. While there was no clear consensus, 25% of respondents reported that better communication among staff would be the most effective solution. Another 20% noted that automation of non-clinical activities would help reduce burnout, suggesting that excessive administrative work is putting a strain on the staff’s ability to provide patients the best care.

What does this mean?

Staff burnout in imaging is a major problem, and it does not appear to be stopping any time soon. In order to curb it, hospitals must implement more staff-friendly policies, and vendors must create offerings to assist them. What steps do you think are necessary to reduce staff burnout?

ISCHEMIC STROKES AND TREATMENT OPTIMIZATION

Thu, 03 Aug 2023 14:12:42 GMT

Ischemic Strokes and Treatment Optimization

In 2018, 1.9 million diagnosed cases of ischemic stroke in the USA, Japan, and five major EU countries were estimated. Although stroke is the second leading cause of death globally , advancements in endovascular procedures such as mechanical thrombectomy (MT) have improved clinical outcomes for stroke patients.

What is a Stroke?

Prominent in the elderly, a stroke occurs when the blood supply to a part of the brain is blocked. Strokes can be categorized as ischemic or hemorrhagic depending on their causes. Ischemic strokes, the more common of the two types (approximately 80% of all strokes), occur when there is a clot in the blood vessels supplying blood to the brain, while hemorrhagic strokes occur when weakened blood vessels rupture. It is also important to be aware of transient ischemic strokes (TIAs) or mini-strokes, as they are caused by a temporary clot that can be followed by a stroke.

Identifying Stroke?

With more than 140,000 people dying from a stroke in the United States each year, as reported by the US Centers for Disease Control and Prevention, who is the most at risk for a stroke? People who suffer from a predominant heart condition, cerebrovascular events, coronary artery disease, chronic pulmonary disease, or high blood pressure are at higher risk for a stroke; however, age, gender, family history, ethnicity and lifestyle choices are also contributing factors. Thus, being able to identify a stroke (ischemic or hemorrhagic) is critical for patient care. Stroke symptoms include weakness, paralysis of the face, arms or legs, difficulty speaking, blurred vision, and/ or a severe headache. Global healthcare providers developed the FAST method to easily identify a stroke and spread awareness amongst the public.

FAST stands for:

F: Face drooping
A: Arm weakness
S: Speech difficulty
T: Time to call (Ambulance)

Stroke Diagnosis Pathway

Once stroke symptoms are recognized, the patient pathway begins. It starts with the patient being admitted to a primary hospital capable of scanning him/her and diagnosing the condition. This process is time sensitive as the stroke type will guide further treatment. The sooner the stroke is diagnosed, the greater the likelihood of improved clinical outcomes and patient recovery increases. Doctors will perform a series of tests to determine the patient’s risk. The first step, according to the Mayo Clinic, is that the doctor should complete a physical examination of the patient and ask a family member about the symptoms they witnessed, along with any previous signs of injury or disease. Blood tests are also essential, as they can help evaluate sugar levels, the time of blood clotting, and the balance of other critical blood chemicals. Finally, for stroke diagnosis, various imaging studies can be taken into consideration, such as computerized tomography and magnetic resonance imaging. These tests are determined by the doctor, according to the patient’s situation, and can be any of the following:

Computerized Tomography (CT) scans are used to recognize a hemorrhage, tumor, ischemic stroke, and other conditions.
Magnetic Resonance Imaging (MRI) can detect tissue(s) damaged by an ischemic stroke or hemorrhage.
Carotid ultrasound can show blood flow and the build-up of fatty deposits in the carotid arteries.
A cerebral angiogram gets a detailed view of the brain and neck arteries by injecting a dye into the blood vessels
An echocardiogram can be used to look for clots that may have travelled from the heart to the brain, causing a stroke.

By combining the patient’s history, symptoms, blood work, and imaging studies the doctor can accurately determine the stroke type and develop a treatment plan. The possible conclusions are (1) no transient ischemic attack or stroke, (2) transient ischemic attack, or (3) acute stroke (ischemic or hemorrhagic).

Ischemic Stroke Treatment

If an ischemic stroke is diagnosed, then the direct goal of treatment is to restore blood flow to the brain. Treatment can include medications such as clot busting drugs and/ or endovascular procedures. Globally, the gold standard for treating ischemic stroke is using tissue plasminogen activator (tPA) also known as alteplase, primarily through intravenous injection. This clot busting drug is injected through the vein within 3 to 4.5 hours after stroke symptoms appear and helps dissolve the clot that caused the stroke and restore blood flow. The aim of this approach is “the quicker, the better.” Important to note is that the time window is considered the door-to-needle time, with less passing time meaning a reduced risk of complication and increased rate of survival.

On the other hand, endovascular procedures are performed directly inside the blocked vessel and have larger time windows than the intravenous approaches. One such procedure, known as intra-arterial thrombolysis, delivers tPA to the affected brain area through a long catheter that is inserted via a small incision in the groin artery. However, today’s focus is on another endovascular treatment, mechanical thrombectomy (MT), since its time window quadrupled from 6 hours to up to 24 hours. It is particularly beneficial to patients who suffer a large clot, as these clots are difficult to dissolve completely with tPA.

Mechanical Thrombectomy

Mechanical thrombectomy (MT) uses a catheter to maneuver a stent retriever through the cerebral arteries to the blocked brain blood vessel to trap and remove the clot. This interventional neuroradiological procedure is performed by trained personnel under general anesthesia or conscious sedation in an angiographic suite, commonly used for large vessel occlusion. Additionally, it can be performed in combination with intravenous tPA for effective results.

The most important aspect of mechanical thrombectomy (MT) is the time window evolution. The DAWN and Defuse 3 trials challenged the assumption of providing an interventional procedure within 6 hours of initial symptom onset, and suggest patient benefits for up to 24 hours. These studies proved a decreased degree of disability among patients who received mechanical thrombectomy (MT) treatment. This evolution, of up to 24 hours from door-to-puncture time, is a result of various trials which demonstrated massive patient benefits to those arriving late to the medical facility after symptom onset. Recent studies have suggested that this form of treatment may be the most effective for ischemic stroke, and several hospitals, including facilities like Mayo Clinic, have proven through clinical studies that decreased door-to-puncture time reflects decreased rehabilitation time and ultimately cost and resource savings for the hospital during the post-treatment phase. Furthermore, endovascular treatment research has confirmed that time is critical for patient recovery and reducing the degree of possible disability after a stroke. Now, various cases allow a door-to-puncture time as late as 24 hours after symptom onset, if the large artery occlusion is in posterior circulation.

Despite the challenges and investment to start endovascular procedures, such as an angiographic suite and a trained interventionist to perform the procedure, there has been a significant increase in the number of patients receiving these procedures.

Conclusion

Overall, there are opportunities to better treat ischemic stroke patients by improving accessibility to patients and referring them to comprehensive stroke centers that offer endovascular procedures late after symptom onset. Ischemic stroke is a major risk globally and accounts for approximately 80% of all strokes. Currently, the stroke patient pathway needs to be optimized as door-to-puncture time is key to improve outcomes and post-stroke recovery. Today, clot busting drugs are still the gold standard to treat patients, but with technological advancements and validated clinical studies, mechanical thrombectomy (MT) appears to be a promising therapy to treat strokes and considerably improve patient outcomes. All in all, mechanical thrombectomy (MT) needs to be better integrated into current patient management pathways, with the aim to provide treatment to the maximum number of qualified patients.

How can TMTG help?

To overcome the barriers of integrating a new technology, such as mechanical thrombectomy (MT), into the ischemic stroke treatment pathway requires unbiased and reliable data from the different healthcare markets and providers. The MarkeTech Group has over 20 years of experience conducting qualitative and quantitative in-depth customer insights research to help top-tier health care companies make business decision based on a comprehensive understanding of the healthcare practice and behaviors.

RADIOLOGY STAFF IN FOCUS: RESEARCH REPORT

Mon, 31 Jul 2023 13:49:35 GMT

The topic of staff burnout amongst radiology staff has been a major discussion recently. Partnered with Philips Healthcare, TMTG surveyed 254 radiology technologists and imaging directors in four countries through in-depth teleconference interviews and a quantitative web-based survey. The full research report “Radiology staff in focus” is available for download .

The results of the study covered staff satisfaction and stress and burnout factors, along with efficiency and automation. Overall, the communication and information channels need to improve, starting with the ordering physician. Additionally, technologists hope to get the image right the first time.

Staff burnout is a serious issue in medical imaging departments and it must be addressed by both the hospitals and vendors to limit negative impact on the quality of patient care (see ImagePRO™ Panel Speaks on Staff Burnout )

More about staff burnout and the “ Radiology staff in focus” research report:

Philips: Seeing radiology’s burnout problem with eyes wide open by Kees Wesdorp, Business Leader, Diagnostic Imaging at Philips
Aunt Minnie: Survey finds high burnout levels among radiology staff
Aunt Minnie Europe: Germany leads in new survey of burnout in radiology
Healthcare IT News: Radiology staff report 'alarming' levels of stress & burnout in new Philips study

Explore our website or contact us to find out how The MarkeTech Group can meet your healthcare marketing research needs

IMAGEPRO™ PANEL SPEAKS ON COVID-19 CHALLENGES IN CHATPRO™ FORUM

Thu, 27 Jul 2023 21:24:28 GMT

Between March and May 2020, TMTG’s imagePRO™ panel members were invited to an online chatPRO™ forum in which they were given prompts regarding COVID-19's impact on their institution's workflow, safety, and reimbursement. 55 members participated, with 105 individual responses between them. See here for the full report.

IMAGEPRO™ PANEL SPEAKS ON 3D PRINTING FUTURE

Wed, 26 Jul 2023 13:37:15 GMT

As 3D printing becomes increasingly ubiquitous, medical professionals are vying to see how they can utilize it in their practice. Since 3D printing largely relies on radiology to produce the models, the rise of this technology is important for imaging professionals as well. The MarkeTech Group recently surveyed our imagePRO™ panel to gauge where their institutions stood regarding advances in 3D printing technology.

The majority of respondents currently do not see a use for 3D printing…

When asked whether their institution currently utilizes 3D printing for medical purposes, only 9% of respondents reported using it. The majority of respondents (59%) reported that they did not use 3D printing and did not see a purpose for it at their institution. This response suggests that respondents either do not need it or are unaware of its various benefits — if the latter is the case, then the onus is on 3D printing vendors to demonstrate their products’ value to customers.

… But imagePRO™ panel members anticipate 3D printing being used for a variety of applications

Physicians and researchers are finding more use for 3D printing every day, often in tandem with imaging. Many specialties, from cardiology to maternal-fetal medicine , stand to benefit from innovations in this field.

Perhaps because it has so many uses, imagePRO™ members did not reach a clear consensus on which medical specialty has the most to gain from 3D printing. About a quarter (24%) of respondents believed that musculoskeletal would benefit the most from new applications, followed by cardiology (18%) and spine (17%). This could be due to awareness, as some specialties are more associated with 3D printing than others, and thus the benefits to some specialties are not as clear. Yet even some specialties that are not typically associated with 3D printing, such as gastroenterology (1%), will also be helped by advances in this realm.

The most common use cases for 3D printing may involve simulation and planning

Though 3D printing has a variety of use cases, the majority (63%) of respondents stated that it would be most commonly used for simulating or planning surgical procedures, and another 9% said that it would be most commonly used for simulating imaging scans or protocols. Some respondents anticipated using 3D printing for educational purposes as well—16% of respondents said it would be most commonly used for patient education, and 6% stated that it would be used for physician education.

What does this mean?

With 3D printing seeing higher adoption, imaging departments must keep up. One way to do this is by investing in training courses for radiologists. Radiologists who have taken courses on 3D printing have given positive reviews and believe the technology has the potential to help patient care. Clinical specialties may use 3D printing directly, but as of now, many imaging directors do not believe that 3D printing would be useful in their own department. It is up to both radiologists and vendors to convince them otherwise.

MICI Q4 2022

Wed, 19 Jul 2023 21:17:45 GMT

2022 MICI Q4 shows very high confidence in study volume and profit center growth

The Medical Imaging Confidence Index (MICI) Q4 results shows very high confidence in study volume and profit center growth, but lower confidence in receiving adequate reimbursement

USING CONJOINT ANALYSIS TO UNDERSTAND PREFERENCE FOR ONLINE SURVEY LAYOUT

Mon, 17 Jul 2023 13:46:52 GMT

The MarkeTech Group (TMTG) uses advanced quantitative methodologies to answer a variety business questions ranging from product to pricing decisions. Our TMTG consultants will ensure that the appropriate will be selected to optimally address the study needs. We use our proven team-based iterative design process to create efficient questionnaire that increases data quality and ultimately provides higher confidence in decision making.

In addition to adopting best practice for effective design, TMTG quantitative consultants constantly innovate and seek to improve all aspect of design elements including optimal survey formatting and choice tasks presentation. This is why we are extremely pleased to share our last peer-reviewed publication that focuses on conjoint and survey design efficiency. This scientific publication has been accepted in the International Journal of Market Research in September 2019.

Using conjoint analysis to understand preference for online survey layout

Craig V King, Romain Labas, Christian Renaudin The MarkeTech Group, USA
International Journal of Market Research, 2019, Volume: 61, issue: 6, page(s): 621-634
Article first published online: September 3, 2019; Issue published: November 1, 2019
https://doi.org/10.1177/1470785319873249

Abstract

This study seeks to determine what participants prefer when taking online surveys with regard to conjoint design (number of concepts per screen) and format for grid questions. Respondents were mixed on their preference for two versus three concepts per screen. However, importance scores for incentive amount and type reversed when taking a conjoint exercise with two concepts per screen versus three concepts per screen. Participants seemed to focus more on incentives when presented with three concepts per screen than when presented with two concepts per screen. This finding was not expected and implications are discussed. In addition, the use of radio buttons versus drop-down menus in grid style questions was also explored. Respondents preferred radio buttons, and the means (repeated measures) were higher for responses for radio buttons than drop-down menus.

Further details on quantitative methodologies:

Scales and measurement : How to ensure quality result with consistent measurement?
Gauging Customer Preference : How to create realistic consumer choice situations to understand important features of an offer?

MICI S1 2023

Thu, 06 Jul 2023 21:11:56 GMT

2023 MICI S1 shows very high confidence in study volume and profit center growth

POST COVID-19 PULSE (WAVE 1): MAY 1ST – MAY 15TH

Thu, 29 Jun 2023 20:56:29 GMT

A recurring QUICKPollTM study on hospital-based diagnostic imaging volumes

Our imagePRO™ panel was asked nine (9) questions regarding imaging volumes from May 1st-15th of this year compared to the same period in 2019.

40% of respondents noted an increase in studies using portable x-ray, while over 67% of respondents saw a decrease of over 40% in screening procedures such as mammography. Outpatient procedures are already starting to see a surge for 33% of panel members that participated, and 44% plan on extending hours of operation when/if a surge occurs. To learn more about these imaging volume trends, please see our dashboard below.

Access the data

Purchase the “Post COVID-19 Pulse Wave 1 Data Set” broken down by nine (9) different profiling criteria (see below) for $850, contact us for more information.

Profiling criteria:

Years assuming a management position for imaging services and equipment
Bed size
US State
# Hospitals currently supervised
Hospital ownership model
Primary mission of the organization
Hospital patient catchment area
Imaging related services offered
Imaging procedure/study volume

For more analytics, contact us .

Survey Length

Mon, 19 Jun 2023 20:46:11 GMT

Why should someone care about survey length?

The greatest challenges in medical technology marketing research include limited universe and cost per survey, since high incentives are paid to participating physicians, nursing staff, hospital/department administrators and executives. This is why marketing research agencies should always:

Maximize the sample quality versus the cost;
Ensure the survey is focused to relevant qualified targets through a rigorous screener;
Optimize survey design to address the study objectives while making the survey experience enjoyable and professional.

Some agencies will field online, self-administered surveys with a length of survey (LOS) that exceeds 30 minutes, sometimes even extends to 60 minutes. This is not advisable, because healthcare providers and hospital administrators:

Are busy professionals and are likely to “rush through” to the end of a survey or merely abandon it, and
Will likely experience survey fatigue.

Regardless of the cause, this creates data quality challenges. To avoid these issues, The MarkeTech Group (TMTG) has made it a standard practice to rarely exceed a 20-minute LOS. In our business, it is unusual that a study’s objectives require a longer survey. In this paper, a literature review on survey duration and completion rates is supplemented with results from TMTG research that demonstrates the need to refrain from long online survey durations.

How to measure data quality with an online survey?

Measuring survey data quality is complex, and researchers typically use metrics linked to survey participation, such as the response rates, incidence rates and completion rates.

The response rate (RR), defined as the number of people who started the survey divided by the number of people invited to participate, mainly indicates the relevance and interest of the targeted sample participating in the survey.
The incidence rate (IR), defined as the number of people who qualified for the survey after passing the screener divided by the number of people who started the survey, is an important element to assess not only to ensure that only relevant respondents take the survey but also to allow market projections. A stringent screener (low IR) could lead to feasibility and cost issues as well as market projection limitation. On the other end, a high IR could be a problem if some unqualified respondents take the survey therefore decreasing the trust in the data.
The completion rate (CR), defined as the number of people who completed the survey divided by the number of people who started, is an insightful design quality measurement, because it directly relates to the experience and interactions of respondents with the survey. A low completion rate means respondents drop out of the survey at some point for various reasons. In such cases, root cause analysis can be implemented by conducting post-survey interviews with these respondents. The interviews often reveal a frustrating survey experience because a survey is too long or contains cumbersome questions that can be seen as misleading.

Literature Review shows long LOS can create challenges

Current studies examining online survey participation provide insights to understand the impact of survey length on participation and completion rates. Below is a summary of survey length literature that helps optimize survey design:

Respondents expect LOS less than 20 minutes

When participants are asked directly, the ideal survey length is a median of 10 minutes and maximum of 20 minutes. ¹

There is a negative relationship between survey length and completion and response rates.

By examining 25,080 real-world web surveys conducted by a single online panel, a regression analysis demonstrates that the completion rate decreases when the number of questions, pages, or words increases. ²
When testing characteristics recognized to affect response rates including LOS, with 2,000+ respondents of a web-based, self-administered survey, the shorter survey of 91 items (announced to take between 10 and 20 minutes) yielded a response rate 12 percentage points higher than the longer survey of 359 items (announced to take between 30 and 60 minutes). ³
When comparing two different versions of a survey, the short version (15–30 min) has a higher response rate than the long version (30–45 min). ⁴
When inviting 10,000 people to participate in an online survey without mentioning the length prior to start, a higher dropout rate was found in the longer survey of 42 questions (29%) versus the shorter survey of 20 questions (23%). ⁵

Longer stated LOS correlates with lower response and completion rates

When testing three different announced LOS (10, 20, or 30 min) for the same survey, the longer the stated length, the fewer respondents started and completed the questionnaire. In addition, the answers to open-ended questions positioned later in the questionnaire were faster, shorter, and more uniform than answers to open-ended questions positioned near the beginning. ⁶
In another study, 20,000 participants were invited to complete an identical online survey, and when the stated LOS was 5 minutes compared to 15 minutes respondents were more likely to begin the survey (higher start rate). The completion rate was also higher for the stated 5 minutes survey (9.3%) compared to the stated 15 minutes (6.9%) despite surveys being identical. ⁷
When comparing two stated survey lengths, 3–5 minutes and 10-15 minutes, on completion rates, the shorter stated length survey had a higher completion rate (while the 10-15 min survey was actually the same as the 3-5 min one). ⁸

The MarkeTech Group’s (TMTG) internal studies corroborate literature

TMTG recently published a peer-reviewed scientific paper focused on conjoint and survey design efficiency to understand the preferences of imaging professional participants when taking online surveys. Although offering an adequate incentive and user-friendly platform were important, LOS had a significant impact on respondent preference. Specifically, when comparing surveys with LOS ranging from 10 to 25 minutes, the 10-minute survey captured 47% preference share, while the 20- and 25-minute surveys captured 16% and 6% respectively. This clearly indicates that preference decreases when survey duration increases.

Conclusion

When conducting quantitative healthcare marketing research through an online survey platform, all aspects of survey design, in particular LOS, must be taken into account. A short LOS limits the risk of collecting incomplete survey responses, which is especially critical when the respondent pool is limited as with healthcare providers. TMTG strongly supports a LOS not exceeding 20 minutes to optimize participation and ensure complete data sets, so that business decision making relies on completes information. TMTG is an experienced provider of quantitative marketing research methodologies to address business questions around new product development and/or pricing. Our efficient design process always takes the best approach to optimize data accuracy and the project budget.

Further details on quantitative methodologies

Scales and measurement : how to ensure quality result with consistent measurement?
Gauging Customer Preference : How to create realistic consumer choice situations to understand important features of an offer?
Improving Online Survey Efficiency : using conjoint analysis to understand preference for online survey layout

References

Ideal and Maximum Length for a Web Survey; Revilla et al.; International Journal of Market Research, 2017, volume 59, issue 5, pages 557-565
Examining Completion Rates in Web Surveys via Over 25,000 Real-World Surveys; Liu at al.; Social Science Computer Review, 2017, volume 36, issue 1, pages 116-124
Compensating for Low Topic Interest and Long Surveys: A Field Experiment on Nonresponse in Web Surveys; Marcus et al.; Social Science Computer Review, 2007, volume 25, issue 3, pages 372-383
Response Rate and Response Quality of Internet-Based Surveys: An Experimental Study; Deutskens et al.; Marketing Letters, 2004, volume 15, issue 1, pages 21-36
The Influence of the Design of Web Survey Questionnaires on the Quality of Responses; Ganassali ; Survey Research Methods, 2008, volume 2, issue 1, pages 21-32
Effects of Questionnaire Length on Participation and Indicators of Response Quality in a Web Survey; Galesic et al.; Public Opinion Quarterly, 2009, volume 73, issue 2, pages 349-360
The Influence of Web-based Questionnaire Presentation Variations on Survey Cooperation and Perceptions of Survey Quality; Walston et al.; Journal of Official Statistics, 2006, volume 22, issue 2, pages 271-291
How You Ask Counts: A Test of Internet-Related Components of Response Rates to a Web-Based Survey; Trouteaud; Social Science Computer Review, 2004, volume 22, issue 3, pages 385-392

RECRUITING AND SCREENING OF MEDICAL PROFESSIONALS

Wed, 14 Jun 2023 20:29:55 GMT

Physicians and medical administrators are valued, important, and expensive research participants. Their input influences next generation of medical devices, technologies, and software. Below is an overview of best practices for recruiting and screening this group.

Proper screening is important to ensure respondents are knowledgeable about the product or software being investigated and have input on product acquisition. For example, an orthopedic surgeon would likely not be able to make informed judgments about devices used for stroke intervention. However, respondent type or titles are generally not the only screening criteria required. Respondents most likely need to be involved in the use, design, and purchase of the product(s) being evaluated. Technicians, nurses, physicians, IT managers, department heads, and C-levels may all have important insights about use, design, and willingness to pay. Each respondent type is carefully vetted during the screening process to ensure a good mix of desired participants.

Purpose and Length of Screener

It is important to note that screeners need to be brief, succinct, and carefully crafted to obtain the correct group(s) for a study. A screener is limited to 4 to 7 questions (approximately 2-3 minutes) with the primary purpose of finding qualified respondents. Those who do not meet the criteria are not allowed to participate in the full survey. In addition, no honorarium is provided to those who do not pass the screener and complete the survey. The screener is not a mini survey to determine incidence or other potential information, and using it as one is unethical and will damage the trust between researchers and potential respondents. As such, it is important to not ask respondents to complete a long screener for the sole purpose of obtaining “free” data. Medical professionals are busy so asking them to spend 5 or more minutes completing a screener only to learn they do not qualify for the research will likely irritate them and make them less likely to participate in future studies.

Response Rate (RR)

Response rate is the percentage of those recruited who actually attempt to participate. Response rate varies and is a function of several things including panel quality, interest in study, availability, timing, duration, honoraria amount, etc.

Incidence Rate (IR) and the feasibility / cost of the study

Incidence is defined as the percent of a population that meets the required criteria for a specific disease or behavior. In marketing research, incidence is the percent of a given population (those attempt to participate to the survey) who meet specific criteria for participation in the research. The stricter the screener, the lower the incidence and the higher the recruitment cost for qualified respondents. If the population is small, a strict screener may result in the inability to recruit enough interested and qualified respondents to meet the research objectives. To make reasonable predictions about product interest and purchase intent it is important to have adequate population representation. For example, 100 completed surveys have a margin of error of + 10%. Obtaining large samples can be expensive (recruitment and honoraria), and at times, challenging. A carefully designed screener and good targeting of potential respondents ensures adequate sample size, reasonable time in the field, and a cost that does not exceed expectations.

Bias Resulting from Restrictive Screening Criteria

Another downfall of a screener that is too restrictive is the potential to introduce bias into the results. It is possible to obtain such a narrowly defined group that projecting to the full population is not feasible or misleading. It is important to have a good representation of the population to make reasonable projections about future behavior. If the screening criteria are too strict, one runs the risk of mistargeting the sample. Respondents who prefer a certain feature maybe overrepresented while respondent who might prefer a different feature or who might be willing to pay more to obtain their desired product could be entirely missed. Too much homogeneity in the sample does not allow for the identification of different groups (segments) that have different preferences. The end result could be that a client is marketing to a specific segment only and missing out on other opportunities to sell its product.

Stratified and Randomized Sample

Clients sometimes think it is important to focus on a specific subgroup such as large hospitals, because those tend to purchase more products and supplies than small hospitals. There are many more small hospitals than large hospitals in most countries, so restricting the sample to larger institutions can result in small samples that are biased and not representative of the overall market. A more severe approach is attempting to stratify the sample by requiring multiple layers. For example, screening so that each hospital type and size (measured in number of beds or volume), is represented by a specific number of respondents, and then each state or region is represented. The more layers (in this example we show three–hospital type, hospital size, and state/region) the more difficult and expensive the recruitment. Ensuring each of these three criteria are met independently (no strata) is appropriate, but layering them is not.

Title vs. Function

Titles vary widely among respondents. The head of radiology may be called an Imaging Director, Director of Radiology, or other titles. Nurse titles vary widely for those who perform the same function in different organizations or in different countries. Respondents often take titles literally and may screen out based solely on that. Recruiting and screening on function rather than title more likely ensures that targeted and qualified respondents are able to participate. For example, asking if someone oversees a radiology department rather than has a head of radiology title may result in higher incidence and better recruiting.

Market Sizing and Identifying the Appropriate Sample Provider

One thing screener data can be used for is to determine actual market size. A carefully designed screener will allow us to determine actual population incidence and make estimates about market size. This also requires good recruitment strategies and a database / list that has good representation of the overall market. Working with a qualified and experienced sample provider is critical to project success, which is defined as obtaining actionable results with good estimates of population needs, desires, and willingness to purchase. Some panels are biased because they were created with specific needs or criteria. For example, a panel that only targets large hospitals is biased and eliminates (in the US) 60% to 70% of all hospitals. Relying only on this source will provide data that is biased and not representative of the market.

Summary

In summary, careful and thoughtful screeners contribute to high quality research, resulting in positive outcomes for the projects and clients. Poorly designed or restrictive screeners cause multiple problems that cannot be easily overcome. TMTG will guide you through the screener design process to ensure that a good mix of qualified healthcare professionals are recruited.

POST COVID-19 PULSE (WAVE 4): JUNE 16TH – JUNE 30TH

Tue, 06 Jun 2023 20:28:09 GMT

A recurring QUICKPoll ^TM study on hospital-based diagnostic imaging volumes

Access the data

Purchase the “Post COVID-19 Pulse Wave 4 Data Set” broken down by nine (9) different profiling criteria (see below) for $850 by clicking HERE

Profiling criteria:

Years assuming a management position for imaging services and equipment
Bed size
US State
# Hospitals currently supervised
Hospital ownership model
Primary mission of the organization
Hospital patient catchment area
Imaging related services offered
Imaging procedure/study volume

For more analytics, contact us .

IMAGEPRO™ PANEL SPEAKS ON VIRTUAL TRADESHOWS

Wed, 31 May 2023 20:15:24 GMT

Though many states in the US are beginning to relax restrictions related to COVID-19, it is still unclear whether many annual radiology conferences will be held in person in 2021. Some upcoming conferences, such as AUR 2021 and ASNR 2021 , will still be entirely virtual, although RSNA 2021 is set to be held in person in November. The MarkeTech Group recently surveyed our imagePRO™ panel to gauge their opinions on virtual radiology conferences and trade shows in 2021.

Respondents are unlikely to attend virtual trade shows in 2021

When asked whether they would be likely to attend virtual trade shows in 2021, a whopping 69% stated that they were not at all or somewhat likely to attend; only 13% reported that they would be very or extremely likely to attend. These results are corroborated by virtual attendance trends from 2020, in which RSNA attendance was slightly over half of what was expected.

Shifting from a virtual to an in-person format would drive attendance

Imaging professionals appear to find more value in live, in-person events than in virtual events. 62% agreed that they would be more likely to attend trade shows if they were to revert to an in-person format (assuming equal registration fees); however, 23% disagreed, indicating that they would not be more likely to attend in-person trade shows.

While optimism appears to be slowly rising as vaccines are distributed more widely, the 23% figure indicates that a significant portion of respondents may still be uncomfortable attending live gatherings as of now. Perhaps because of this, RSNA has shifted to a hybrid format which gives attendees the option to attend either in-person or online. Other benefits, such as lowered stress lowered stress , may also drive some to opt for online attendance.

Vendor offerings and technical exhibits are the most commonly expected benefit of trade shows

We asked respondents what benefit they most expected from trade shows in 2021, and 42% said learning about vendor offers and technical exhibits, making it the most commonly expected benefit. This explains the desire to move back to an in-person format—not only do virtual technical exhibits prevent attendees from experiencing live, hands-on product demos, but the number of technical exhibits at RSNA 2020 was only about 235 , compared to 740 at RSNA 2019.

An additional 18% reported networking and meeting colleagues as the most expected benefit of attending trade shows. This, too, offers some insights into why attendees prefer an in-person format, as networking opportunities (such as breakout groups) tend to be more scarce and less intimate in a virtual setting.

What lies beyond 2021?

Though COVID-19 may have revealed some opportunities to move to a virtual platform, such as an increase in tele-medicine, trade shows do not appear to be among those opportunities. Generally, attendees appear eager to get back to live, in-person events. Moving forward, however, we may see more virtual attendance options for those who choose not to attend in person. Which format do you prefer?

MORE DEMAND THAN HEART DONORS

Thu, 25 May 2023 20:08:26 GMT

While heart transplant (HTx) remains the gold standard, currently, only 10-30% of patients’ needs are met. Although those that are able to receive HTx have a 1-year survivorship of 85-90%, and post successful transplant, patients will survive 25 to 30 years [Standford Paper] there are still significant challenges. The main problems are the shortage of donor hearts for transplant, and only 30% of hearts being accepted for transplantation.

According to U.S. Department of Health & Human Services, there were a total of 3761 heart donors in 2020. Although, the heart transplant procedures per million have increased from 7.1 in 2008 to 10.9 in 2019 , the waitlist continues to grow. In the UK, 172 HTx in 2019-20 and 183 in 2018-19, while the waitlist was at 336 and 288 for those respective years .

To make matters worse, the demographic shift in developed markets towards older patients indicates that the number of potential recipients with heart failure is expected to grow more rapidly than the potential population of younger eligible heart donors.

Thus, the more prevalent options available for heart failure patients includes a variety of Mechanical Circulatory Support (MCS) devices, which were originally developed as part of the National Heart, Lung and Blood Institute’s “Artificial Heart Program” in 1964. These MCS devices for long-term implantation to support cardiac function, have evolved to be a viable alternative for patients with advanced heart disease and cardiac failure. Yet, can the mechanical devices intended to assist or replace a patient’s cardiac function while they await a donor heart for implantation, help reduce or even eliminate this shortage?

Current Devices and Challenges

Devices range from the most common Left Ventricular Assist Devices (LVADs) to the less common Total Artificial Heart (TAH). Globally, current leading technologies approved for implantation include Medtronic’s Heartware and Abbott/StJude/Thoratec’s HeartMate ventricular assist devices (VADs) and the Syncardia Total Artificial Heart (TAH). These devices may support heart function temporarily as a Bridge-To-Therapy (BTT) until a transplant becomes available or, increasingly, as a Destination Therapy (DT). As tracked in the Interagency Registry for Mechanically Assisted Circulatory Support (INTERMACS) of FDA-approved MCS devices, in 2017 current generation devices were being implanted at a rate of about 2500 implants per year plus those devices enrolled in ongoing clinical trials. Overall survival rates were over 80% at one year and 70% at two years [2017 INTERMACS]. One and two-year survival with latest generation LVAD devices (HeartWare in ReVOLVE trial, HeartMateIII) is now comparable to heart transplant at up to two years. [Interviews, and Kirklin JK, Naftel (23 from Prinzing JTD article)]. As physicians achieve constantly improving surgical success and their patients show improved quality of life and lengthening survivorship, the strategic distinction between BTT and DT has begun to disappear. Currently, over 50% of continuous flow implants are implanted with a strategy of DT [2017 INTERMACs].

While most surgeons view VAD as the best alternative to HTx for most patients, there remain indications for Total Artificial Hearts (TAH). At less than 2% of circulatory support device implantations - compared to nearly 25,000 VADS, a total of about 400 TAH have been implanted, - surgical complications during transplant and total failure of the heart (both left and right) may counter-indicate the use of an LVAD and require the need for a TAH implantation.

However, there is limited data on devices like, Total Artificial Heart and Bi-Ventricular Assist Device . The literature shows that pooled data analysis was limited by the lack of randomized controlled trials or cohort studies comparing outcomes of TAH and BiVAD. Yet, a limited study shows that TAH seems to confer a better one-year survival rate in a bi-ventricular failure patient, especially in sicker patients with planned RVAD.

According to Dr. Francisco Arabía, since the reported LVAD outcomes are better, people assume they are better for everyone, but this is a fallacy. The LVAD companies promote their devices as the one appropriate solution, but LVAD indications tend to select candidates from InterMACS Profile 3 or 4 patients, those that have functioning right ventricles and overall better health. However, InterMACS Profile 1 and 2 patients, the sickest, are more often selected as candidates for the TAH. Those sicker patients with failing left and right ventricles most often cannot be treated adequately with an LVAD. While LVADs will meet the needs of the 70+% of heart failure patients with left ventricular disease, up to 30% of patients need bi-ventricular total heart support. Their alternatives if no donor heart is available include either two LVADs, or a TAH. While currently approved LVADs are reliable, with fatal device malfunction occurred in only 3.5% of implantations [Prinzing, JTD], current adverse events include device thrombosis, stroke, infection, and GI bleeding. Using an additional VAD device to support right heart function means dual drive lines, two controllers, and additional power requirements, with nearly double the complication rate. Current survival for bi-ventricular support solutions is comparable to TAH, and is currently at <60% at 12 months. With this prognosis, while the survival with a TAH far surpasses the terminal alternative of hospice care and palliative treatment, there is significant room for improvement for these sickest patients.

Predictions For Next-Gen MCS devices

For VADs to better fill the shortage of donor organs, they will need to further reduce complications, particularly drive-line infections, thrombosis, and short untethered times. The clinical trials for the Heartware and, particularly, the HeartMate3 LVADs are very promising for greater use of these devices as destination therapy with improved quality of life, fewer side effects and improved survivorship. Surgeons believe that the upcoming generation of LVADs currently in clinical trials have mostly addressed the problem of device thrombosis. Currently there are a few studies in progress regarding Heartware.

The Apogee study which is a prospective, observational, post-market, on-label, multi-site study in Destination Therapy patients, sponsored by Medtronic, aims to enhance understanding of the implant procedure, optimized blood pressure management, and anticoagulation therapy in patients receiving a Medtronic HeartWare™ Ventricular Assist Device (HVAD™).

The MOMENTUM3 clinical trials sponsored by Abbott, showed that the HeartMate 3 fully magnetically levitated centrifugal-flow pump was superior to the HeartMate II axial-flow left ventricular assist system with respect to survival free of disabling stroke or re-operation to replace or remove a malfunctioning device. In addition to reducing the need for pump replacement (mostly for pump thrombosis), the centrifugal-flow pump was associated with a lower incidence of either ischemic or hemorrhagic strokes of any severity and fewer bleeding events.

For the sickest patients that cannot be matched with a donor heart, developments in Total Artificial Hearts continues with the evolution of the Syncardia Jarvik7 series and new upcoming devices like the Carmat, Reinhart, and Cleveland Clinic products.

Looking Ahead

Yet, the greatest progress may come from improvements in training of the healthcare provider team and medical economics when considering QALY metrics. Cardiologists, primary care physicians, and caregivers need to be trained to, first, more quickly refer patients to heart failure specialists . In the latest article in the Journal of Heart Diagnostic and Transplantation, the outcomes based on INTERMACS Profiles could be better with increased center experience and understanding of physiology, patient selection.

The new INTERMACS profiles and outcomes of ambulatory advanced heart failure patients is a prospective observational study of 400 outpatients from 21 MCS and cardiac transplant centers. It concluded that among ambulatory patients with advanced HF, a lower INTERMACS profile was associated with a greater burden of HF across multiple dimensions and a higher composite risk of durable MCS, urgent transplant, or death. These profiles may assist in risk assessment and triaging ambulatory patients to advanced therapies.

Second, the healthcare team for recipients of these devices will need to better understand management of patients with Mechanical Circulatory Support. Without pulsatile flow, what is a ‘healthy’ blood pressure? With high flow from an effective pump, is an otherwise low hematocrit acceptable? How does a nursing home or hospice provider qualify a patient with an implanted LVAD or TAH? Then, from the economic perspective, the procedure and complication costs are currently so high that even if the device is provided free of charge, the costs do not meet the $100k/QALY often considered a threshold by medical economists.

It is expected that with better success and greater numbers of LVAD implantations, both the expertise and economics will improve for those patients that can be treated with only left heart support. For the sickest INTERMACS profile 1, 2 and 3 patients, significantly greater investment is needed for the development of TAH technology to move beyond the aging Jarvik-style device. This investment will likely need to come from a government-level initiative, since the economics of TAH today cannot justify the economic needs of for-profit business concerns and investors. Current technology developments for mechanical circulatory support provide hope for patients suffering from heart failure; however, healthcare system economics will need to catch up to the engineers and surgeons.

Sources

https://www.statista.com/statistics/265129/rates-of-transplants-in-the-us/

https://nhsbtdbe.blob.core.windows.net/umbraco-assets-corp/18279/annual_stats.pdf

https://www.sciencedirect.com/science/article/abs/pii/S1053249820311761

RECRUITMENT OF LAB TARGETS

Thu, 11 May 2023 20:05:37 GMT

When conducting studies with lab respondents it is best to create the target groups in terms of respondents’ training and/or responsibilities rather than job title.

In conjunction with one of our recruitment partners, it was found that titles varied widely within the lab department, thus making it difficult to target certain titles specifically. Heads/ chiefs of pathology and histology are almost exclusively doctors by training, but this may not be their primary title. Those who considered themselves pathologists may also be heads or chiefs as a secondary role; this influences their decision-making influence.

Lab managers and directors, on the other hand, are a bit more difficult to classify in the US and UK, with the following general takeaways:

- USA:

Pathology lab director are typically MDs by training, but pathology lab managers may or may not have a medical background.

Histology lab directors and managers have a technologist background, more often than not.

- UK

Pathology lab directors and managers are normally either medical doctors or technologists by background.

UK histology lab directors and managers are similar to USA respondents with respect to their technologist background.

- Germany & Italy

Pathology and histology lab directors as well as managers are almost exclusively medical doctors by background, indicating that the training in these countries tends to be different than USA or UK.

In the pathology lab environment, personnel tend to take on various responsibilities that may fall in or out of their primary job title. To accurately target these respondents, it is imperative to look at training, responsibilities, and/or decision-making influence for stratification of targets.

Looking to survey lab respondents? Contact us now to get your project started.

Conversation about COVID-19 and MedTech OEMs tradeshow strategy

Thu, 04 May 2023 19:54:39 GMT

BD, Elekta, GE Healthcare, Philips, and Siemens Healthineers CMOs:

In this edition of The Minute, The MarkeTech Group interviewed five marketing decision makers of major medical technology vendors to understand how they managed their tradeshow strategy in 2020, and what the future might look like for upcoming medical tradeshows and conferences.

Read the full interview here:

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Value-Based Healthcare: What is next and why is it important for the industry?

Wed, 26 Apr 2023 19:42:54 GMT

In this edition of The Minute, you will become aware of different initiatives related to value-based Healthcare.

Interview with*:
Nicole Denjoy (ND), Secretary General European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR)

*While TMTG features executives in our interview section, The Minute is a completely independent publication and is not sponsored by any company.

Read full interview here .

5 R's Value and Statement

Tue, 25 Apr 2023 20:01:43 GMT

New Paragraph

MICI Q3 2023

Wed, 22 Mar 2023 19:36:29 GMT

2023 MICI Q3 shows low confidence in receiving adequate reimbursement from Medicare

The Medical Imaging Confidence Index (MICI) Q3 results shows a lower confidence in receiving adequate reimbursement from Medicare than in S1.

IMAGEPRO™ PANEL SPEAKS ON CONTRAST AGENTS

Tue, 07 Mar 2023 20:27:18 GMT

There are many legal and policy issues raised by the FDA notice on regulating some imaging agents that meet both the device and drug definition as devices.

The potential impacts are not only to the companies which are market lawful with FDA approved imaging drugs - including contrast media and radiopharmaceuticals - but to healthcare providers, pharmacies, supply chain managers, distributors, and patients. The MarkeTech Group recently surveyed our imagePRO™ panel to gauge their opinions on the recent FDA notice.

Most respondents disagree that some contrast agents should be classified as devices rather than drugs

When asked whether they agree or disagree that contrast agents as defined below should be classified as devices rather than drugs, 64% indicated that they disagree with the classification definition and pointed out that they should be classified as drugs. While, only 36% agreed with the new classification definition.

Contrast agents that do not achieve their primary intended purposes through chemical action within or on the body, and are not dependent upon being metabolized for the achievement of their primary intended purposes.

No strong expectation that the end user prices for some contrast agents will reduce

The cost of bringing new devices to market is much cheaper than bringing pharmaceuticals. When asked, 41% of the respondents strongly disagreed or somewhat disagreed that this regulation will lead to a lower end user price for some contrast agents that are classified as devices, while 27% were undecided. Only 31% strongly agreed or somewhat agreed that the end user price for some contrast agents will decrease with the new regulation.

Both manufacturers and healthcare services will likely to be impacted

When we asked respondents about the most likely outcome of the approved contrast agent products transitioning from drug status to device status, 73% stated that this regulation will impact both the manufacturers and the healthcare services. 12% pointed that it will impact the supply of these medical product while another 11% indicated that the outcomes will disrupt the healthcare services. Only 4% thought that there will be undue burden on the manufacturers with FDA’s new regulation.

IMAGEPRO™ PANEL SPEAKS ON STRATEGIES TO MITIGATE STAFFING SHORTAGES

Thu, 09 Feb 2023 19:24:41 GMT

Though many states relaxed restrictions related to COVID-19 following the decline of COVID-19 related cases, staffing shortages are still a very significant challenge forcing healthcare providers to continue to do more with less. The MarkeTech Group recently surveyed its imagePRO™ panel to gauge radiology directors’ opinions on staff shortage.

The majority observe more than a 10% increase in staffing shortage compared to pre-2021 numbers

We asked Radiology directors to compare today’s staff shortage numbers with numbers prior to 2021. The plurality (48%) reported a 10-20% increase in staff shortage; 23% reported a 21-50% increase; 6% reported an increase greater than 50%, while 14% indicated less than 10% increase; and only 9% stated no change.

Radiology, Med Surg and ER have the most significant staff shortages

The staff shortage does not impact all departments equally. According to our panel, departments such as OR, Cardiology, and Pathology do not experience heavy staff shortages. On the other hand, 35% of the respondents reported that Radiology has the most significant staff shortage; 28% indicated Med/Surg has the most significant staff shortage, while another 19% stated that ER has the most significant staff shortage.

Increasing salaries and/or benefits for retention is the most effective strategy to mitigate staff shortage in Radiology

When we asked about the most effective strategies to mitigate staff shortage in Radiology, 49% of the respondents pointed out that increasing salaries and/or benefits for retention would be the most effective strategy; strengthening the healthcare workforce pipeline is seen as the most effective by 16%; 14% agreed that changing staff model to include different shifts or overtime along with more part-time is the best strategy; while 12% indicated that more cross-training on modalities is going to be effective to overcome staff shortage on Radiology.

IMAGEPRO™ PANEL SPEAKS ON IODINATED CONTRAST AGENT SHORTAGE

Wed, 18 Jan 2023 19:17:43 GMT

Disruptions in the pharmaceutical supply chain critical to radiologic imaging has impacted the global availability of iohexol iodinated contrast media (ICM) which may affect the ability of radiology departments to provide health care to patients needing contrast-enhanced exams. The MarkeTech Group recently surveyed its imagePRO™ panel to get radiology administrators’ opinions on how the iodinated contrast agent shortage in the USA may impact the imaging service line.

The current impact of the iodinated contrast agent shortage is not extremely high

25% of radiology administrators say they are very to extremely impacted due to iodinated contrast shortage used in CT and X-ray exams, while another 22% say that they are moderately impacted. Respondents who state that they are somewhat impacted has the highest share at 28%, while 24% are not impacted from iodinated contrast shortage at all

Most centers defined a strategy to mitigate the impact of the iodinated contrast agent shortage

Overall, only 12% of respondents state that they have not defined strategy to mitigate the impact of the iodinated contrast agent shortage or defined protocols to operate under a contrast shortage. The vast majority (63%) indicated that they have already defined and implemented such strategies or protocols, while another 25% say that they have protocols and strategies planned but not implemented yet.

Iodinated contrast agent shortage is expected to increase MRI utilization

While the iodinated contrast agent shortage used in CT and X-ray exams will negatively impact the utilization of these two imaging modalities, for some exams there could be alternative modalities suitable for utilization. 59% of respondents expect to see an increase in MRI utilization due to the iodinated contrast agent shortage, another 26% expect an increase in ultrasound utilization, while 13% do not think the shortage would increase utilization of other imaging modalities

IMAGEPRO™ PANEL SPEAKS ON VALUE-BASED HEALTHCARE POST COVID-19

Fri, 06 Jan 2023 18:24:56 GMT

Value-based care is a concept that was introduced into the healthcare system over 50 years ago (Novikov D, 2018)

This model created a paradigm shift from the traditional fee-for-service model, because reimbursements are tied to patient health outcomes, and not to the number of services and procedures provided.

While the appeal of such an approach has gained popularity over the years due to an aging population and long-term chronic conditions, along with increasing resource pressures, the value-based healthcare model has not yet been fully adopted. Meanwhile, COVID-19 has affected and reshaped the healthcare industry as a whole in inconceivable ways.

At The MarkeTech Group, we wanted to know the consequences of the pandemic on the willingness to adopt the value-based healthcare concept and its impact on budget and MedTech price assessment.

Our imagePRO™ panel specialists were asked three questions that allowed us to evaluate the shift from volume to value based care Post-COVID 19, the level of acceptance of value-based care has increased or remained unchanged.

42% of panelists consider that value-based healthcare is at least somewhat more accepted compared to pre-COVID period. Additionally, the same proportion of respondents (42%) believe that COVID-19 had no change in their acceptance level. Comparatively, only 16% reported a decrease in acceptance (chart 1).

The majority of our panelists claim that value-based care metrics are at least influential in their MedTech selection and purchasing process.

The perceived increased acceptance level has a direct impact in most respondent's medical technology procurement process. Most (56%) reported that their MedTech selection and buying processes are influenced by value-based care metrics. In comparison, only 9% of our respondents consider that value-based metrics have no influence at all during their internal purchasing process (chart 2).

An increase in value-based care acceptance is reflected in a greater likelihood to pay a price premium for a MedTech that offers better patient outcomes.

While budgets are generally predefined, 87% of our respondents stated that they are at least somewhat likely to pay a premium if a medical technology product has proven clinical data of better patient outcomes. On the other hand, 13% reported that they are not likely to pay more, even if a product has superior clinical outcomes (chart 3).

In addition, there is a direct statistical correlation between the influence of value-based care metrics and the likelihood to pay a premium price. In fact, out of all the respondents who reported being influenced by value-based metrics, 66% said that they are likely to extremely likely to pay a premium price (chart 4).

References
Novikov D, C. Z. (2018). The Historical Development of Value-Based Care: How We Got Here. J Bone Joint Surg Am, 100(22).

Virtual Care in the Patient's Journey - The Minute

Wed, 05 Oct 2022 19:48:24 GMT

Interview with Dr. Mike Conroy

In this edition of The Minute, The MarkeTech Group interviewed Dr. Mike Conroy of Sutter Medical Group to understand how the institution responded to the COVID-19 pandemic and how their implementation of virtual care has adapted post-COVID.

Read the full interview here .

CYBERSECURITY IN HEALTHCARE 2022

Tue, 28 Jun 2022 18:08:28 GMT

Cybercrime is an ongoing issue in the healthcare sector

Attacks have increased in recent years and the trend is showing no signs of slowing down. According to an article published in 2022 by the cybersecurity software company Ekran System, healthcare organizations have experienced the most data breaches since 2009 in the USA. Critical Insights estimates that there has been an 84% increase of data breaches against health care organizations between 2018 and 2021. The need to store enormous amounts of personal and private data makes health care organizations a very valuable target for cyber criminals and the lack of preparation of these facilities make them easy targets.

Different targets, one victim: the patient

Phishing attacks are the most common cyber-threat with an estimated 81% of all healthcare organizations being affected. A far more dangerous type of attack, however, is ransomware attacks where the data and/or patient files are encrypted and a ransom is demanded to “free”/decrypt them. Healthcare organizations, especially hospitals, are vulnerable to these types of attacks which can cause shutdowns, compromising the care for patients. Ransomware attacks have been on the rise with an estimated 45% increase in 2021. As recently as September 2022, OakBend Medical Center in Texas was hit by a ransomware attack. Patient safety was not compromised but privacy and confidentiality of some patient data was, with the risk of being leaked publicly. (Source: OakBend Medical Center hit by ransomware; Daixin Team claims responsibility (databreaches.net) ).

Medical Identity theft is another type of cybercrime where a person uses somebody else’s identity information to obtain medical care (services, prescription, …) or to file fraudulent health insurance claims, for example. This can interfere with the medical care and records of victims as someone else has been using their benefits. It is estimated that a medical identity theft can cost patients about $13,500 to resolve. (Source: Medical Identity Theft: Defense & Prevention Measures | Okta )

The increasing number of attacks also increases the costs related to cybercrime. One of the reasons that healthcare facilities are an easy target is their inability to foot the bill for preventative cybersecurity. However, a shutdown due to a ransomware attack is usually a financial disaster, especially for small to medium sized hospitals: according to a survey, shut-downs can last over 9 hours at a cost of $47,500 USD per hour. Larger sized hospitals (1000+ beds) usually get back on track faster (6 hours on average), each hour costing roughly $21,500 USD. Smaller hospitals with a smaller budget for cybersecurity are more prone to such threats. In 2021, 60% of healthcare ransomware attacks took place in the United States, with medical clinics being the most frequently attacked. (Source: Expert Insights )

Outside of hospitals, other targets in the healthcare sector are pharmacies, care homes, connected medical devices, and insurance companies with the patient being the main victim.

Increasing digitalization invites risk…

While the magnitude of attacks has not increased drastically, the increased digitalization of healthcare institutions makes for a much broader target pool. The healthcare sector has experienced a rapid rate of digitalization in the past decade, as a large variety of healthcare organizations are employing technologies such as cloud computing and IoT (Internet of Things). This rapid digitalization invites security risks and severe cyberattacks. But the need for digitalization and specially associated technologies cannot be ignored because it enhances the value of healthcare. With such increasing rate of digitalization, the risk of cyberattacks are only expected to follow a similar pattern.

…but a strong IT culture can mitigate the threats efficiently

The priority for international and national governing bodies is to ensure the trust of the people in the healthcare services offered. According to a World Economic Forum (WEF) report from January 2022, cybersecurity threats rank among the most serious concerns today. The international and national governing bodies promote and enforce internal training and security policies to mitigate the risk of cyberthreats. Various levels can enforce greater security; for example, IT security teams with an efficient patch management system can avoid costly data breaches simply through regular organization and workflow, automation to track and employ security patches instantly. Such measures can be strengthened by employing and maintaining a strong culture of responsible IT security. Associated professionals such as staff, volunteers, and vendors should all receive periodic awareness training.

Cybercrime is a reality that needs to be controlled by maintained cybersecurity

Dedicated governing bodies enforcing the guidelines and assisting with similar training programs are also gaining attention. Simulation training programs such as those organized by ENISA to help professionals counter and mitigate security risks by coordinating at both international and national levels.

With the rising threat of cyberattacks, such support can help tackle cyber problems in the most efficient way.

RSNA 2021 VIDEO RECAP

Wed, 08 Dec 2021 20:07:52 GMT

RSNA 2021 Q1: How does it feel to be back?

RSNA 2021 Q2: Was this event successful?

RSNA 2021 Q3: What did you miss the most?

RSNA 2021 Q4: Did you spend more or less than in 2019?

RSNA 2021 Q5: Were client relations impacted by virtual events?

POST COVID-19 PULSE (WAVE 2): MAY 16TH – MAY 31ST

Thu, 16 May 2019 20:52:33 GMT

A recurring QUICKPollTM study on hospital-based diagnostic imaging volumes

Our imagePRO™ panel was asked nine (9) questions regarding imaging volumes from May 1st-15th of this year compared to the same period in 2019.

36% of respondents are currently experiencing a surge for outpatient procedures. The top method to address a surge is through extended operating hours. In addition, 27% of respondents state that outpatient DICs are at 60-79% of imaging capacity.

Access the data

Purchase the “Post COVID-19 Pulse Wave 2 Data Set” broken down by nine (9) different profiling criteria (see below) for $850 contact us for more information.

Profiling criteria:

Years assuming a management position for imaging services and equipment
Bed size
US State
# Hospitals currently supervised
Hospital ownership model
Primary mission of the organization
Hospital patient catchment area
Imaging related services offered
Imaging procedure/study volume

For more analytics, contact us .

Pricing 301: Improve Your Pricing Decisions - Beyond Preference Modeling

Mon, 13 Jun 2016 19:18:23 GMT

Webinar

Pricing 101 – Tools to Better Capture Medical Customer Insights

Wed, 17 Jun 2015 19:15:14 GMT

marketech-group

IVD Market Intelligence · Q4 2025

Three Forces Reshaping Clinical Diagnostics in Q4 2025

Market Overview

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

Part 1: The Three Forces Reshaping the IVD Market

Force 1: The Return of the Routine

Force 2: The China Vacuum — Quantifying a $1.1B+ Headwind

Force 3: Menu Wars Replace Box Wars

Part 2: Segment-by-Segment — Where the Growth Is

Core Lab: The Giants Rebuild Under Pressure

Molecular Diagnostics: The Post-COVID Transition Takes Shape

Specialty Diagnostics: Two New IVD Categories Emerge

Part 3: The BD Diagnostics Exit — The Decade's Biggest Displacement Opportunity

Part 4: The 2026 IVD Research Agenda — 14 Questions Requiring Primary VOC Data

Conclusion: The Intelligence Gap Is Strategic

Secondary data is essential context. Primary VOC research is the competitive edge.

Work with The Marketech Group

MICI Q4 2025

2025 MICI Q4 Shows S mall Increase in Overall Confidence from Q3 2025

The TMTG Minute - ESG: A New Standard of Healthcare

ESG: A New Standard of Healthcare

Editorial

Market Overview

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

Market Overview

What HCPs Expect from Vendors

Case Study

Optimizing packaging strategy for peripheral intravenous catheters

INTERVIEW OF THE SEMESTER ﻿

Becky Allen

Vice President Operations- Ancillary Services, UC Health / Site Leader at DDC

Interviewer: Dr. Christian Renaudin, TMTG Managing Partner and CEO

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ON THE HORIZON

ESG at the Forefront

MICI Q3 2025

2025 MICI Q3 Shows Less Confidence in Reimbursement and Capital Access

ImagePRO Panel speaks on the impact of tariffs.

Mixed Reactions to 2025 Tariffs Amid Broader Capital Investment Pressures

High-Volume Imaging Departments Report Greatest Concern Over Tariff Risks

Most Imaging Departments Hold Steady on Capital Budgets Despite Tariff Uncertainty ﻿

Imaging Departments Largely Hold Position, but Cost-Control Measures Emerge Amid Tariff Concerns ﻿

Larger Imaging Departments More Proactive in Navigating Tariff Uncertainty ﻿

In-House vs. Agency: When to Outsource Marketing Research

In-House Marketing Research: Good practice, but limitations can arise

Benefit to using an external agency

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It's just an email away.

How to Choose Your Marketing Research Partner

7 Key Questions to Ask a Marketing Research (MR) Firm Before Hiring Them

1. Does the MR firm possess certifications that demonstrate their commitment to marketing research best practices and policies?

2. Does the MR firm staff have relevant industry expertise?

3. What are the MR firm's qualitative and quantitative capabilities?

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imagePRO Market Pulse Series: Environmental, Social, and Governance initiatives in healthcare institutions

The imagePro Market Pulse (iPMP) is a series of insights on the US radiology market provided by The MarkeTech Group.

Importance of ESG Initiatives

Top ESG priorities and challenges

Top Environmental priority

Top Social priority

Top Governance priority

ESG challenges

Vendor role in Environmental, Social, and Governance initiatives

Using Conjoint Analysis to Drive Smarter Decision-Making in MedTech

Why Conjoint Analysis Matters in MedTech

How The MarkeTech Group Conducts Preference Simulation Modeling

Key Elements of a Strong Conjoint Design

Choice Tasks

Number of Profiles per Task

Attributes and Levels

Timing Considerations

Introducing simPRO™: Elevate Your Conjoint Data Analysis

Applying Conjoint Insights to MedTech Strategy

Market Segmentation in Healthcare Marketing

What is Market Segmentation in Healthcare?

INTERVIEW OF THE SEMESTER

Most Imaging Departments Hold Steady on Capital Budgets Despite Tariff Uncertainty

Imaging Departments Largely Hold Position, but Cost-Control Measures Emerge Amid Tariff Concerns

Larger Imaging Departments More Proactive in Navigating Tariff Uncertainty

Healthcare Research