RESEARCH TRIANGLE PARK, NC–(Marketwired – June 20, 2017) – Research into medical device acquisitions revealed that many device manufacturers look to partnerships and acquisitions to move products from the laboratory to market, according to a study by business intelligence provider, Cutting Edge Information.
Data published in the study, Medical Device Development: Benchmarking Early-Stage Product Management and Promotion, revealed that 60% of Top 10 pharmaceutical companies report developing and commercializing products via acquisitions. An additional 20% of the largest surveyed device makers look to collaborations.
Surveyed Top 50 and small medical device companies, 11% and 7% respectively, look to acquisitions to drive product development. Data from the same study show that 21% of small device firms also report using collaborations to drive product development.
“Medical device development and commercialization consume a lot of resources,” said Adam Bianchi, senior director of research at Cutting Edge Information. “As such, many medical device manufacturers look to partnerships and collaboration to aid a number of processes in both product development and early commercialization.”
The study found that in some cases, companies may work together to develop and support a single brand. For example, one company reported working with another parent company in a true partnership, where they developed and manufactured the product while its partner took on the cost of testing and commercializing the device.
Medical device manufacturers use acquisitions to gain technology, intellectual property or complete businesses. Among the surveyed companies reporting acquisitions, half gained whole companies or technology.
However, medical device companies must be cautious before buying these new technologies. Firms should always be aware of the potential problems for which they will be liable in the future. One interviewed executive cautions, “If it’s a technical product — one that would be FDA-regulated — you should go into a company like you’re the FDA. You dig and find all of the problems because, if you do buy the company, you’re going to have to explain to the FDA why [the problems] haven’t been fixed.”
Medical Device Development: Benchmarking Early-Stage Product Management and Promotion, available at https://www.cuttingedgeinfo.com/product/medical-device-development/, explores the resources and best practices necessary to support new product planning and commercialization for US-based medical device launches. This benchmarking study, conducted through primary research, includes:
- Profiles of medical device firms and their products, highlighting human and financial resources supporting development and commercialization, product development timelines and expected commercial success.
- Data on anticipated US commercial success, including market size, market share and competition levels.
- Commercial board staffing benchmarks as well as best practices for integrating stakeholders across multiple firms and communicating throughout the development process.
- Expert insights on selecting the best regulatory pathways for emerging medical technology products, implementing clinical trials and partnering to support development.
To learn more about Cutting Edge Information’s primary benchmarking research on medical device development and commercialization, or other life sciences topics, please download the brochure at: https://www.cuttingedgeinfo.com/preview/medical-device-development-data/.
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CONTACT:
Elio Evangelista
Senior Director of Commercialization
Cutting Edge Information
elio_evangelista@cuttingedgeinfo.com
919-403-6583