Mind The Maturity Gap: Medtechs Must Improve Digital And Omnichannel Uptake
Boston Consulting Group began writing the third iteration of its report on next-generation commercial models to meet evolving medtech customer needs before COVID struck. But it findings and recommendations were even more relevant once the report – dubbed Milkman 3.0 ̶ was finally released in spring 2021, when learnings from the pandemic were being factored in by the medtech industry.
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Medical device companies working on the global stage are undergoing price and innovation productivity pressures just at the time that the markets are demanding a different type of service delivery from their suppliers. Smart manufacturers are reacting positively, with new commercial models, but they remain the exception to the rule, says the Boston Consulting Group, which is soon to release the second edition of its commercial benchmarking initiative.
The operating environment for medical technology companies becomes more complex, competitive and costly every year. There is no expectation that 2022 will buck that trend, even as the medtech sector prepares for a third year of working under conditions shaped by the COVID-19 pandemic.
BD stressed the continued pursuit of an innovation-driven growth strategy as it announced fiscal 2021 sales of $20bn spurred by its pandemic response effort.