The use of therapeutic devices and alternative methods of drug delivery continues to evolve and increase, requiring MedTech companies to be savvy and advanced across not only product development, but also in marketing, pricing and access efforts. Our global MedTech expertise coupled with our leading life sciences and healthcare services practices gives us the necessary skills and tools to answer critical strategic questions across therapeutic areas and across the therapeutic device and drug-delivery continuum — from opportunity assessment and development to post-approval. Open Medical consistently provides our therapeutic device and drug-delivery clients with the strategic insights to meet their value-maximizing goals.
Our extensive experience and methods for working with clients give us the insight and knowledge required to help our clients ask and address important strategic questions such as:
- What is the global expansion potential for our therapeutic device and what should be our go-to-market strategy in new geographies?
- What should be the pricing strategy for our advanced drug-delivery product that will be launching into a market dominated by generic pharmaceuticals?
Examples of Our Work
- A medical-device start-up had developed a potentially revolutionary ophthalmic drug-delivery device, and was evaluating three distinct business and partnering models. Open Medical Consulting conducted an extensive primary and secondary research campaign to better understand the market landscape, perspectives on the new technology from key stakeholders, unmet needs, and competitive dynamics. The Open Medical team then identified the relative revenue opportunities for each business model, along with associated qualitative risks and considerations.
- A leading EU-based medical-device company that was expanding rapidly into overseas markets was seeking guidance on its entry strategy in the U.S. self-care sector. Open Medical Consulting conducted a detailed assessment of the U.S. self-care market (size, segmentation, growth, unmet needs, competitive landscape, pipeline, trends, etc.), ultimately identifying promising customer segments and product areas to target, as well as highlighting key short-term and longer-term strategy initiatives crucial to a robust entry and sustained growth.