How Can A Medical Device Manufacturer Land A Distributor For Their Product?
Have you designed a medical device? Is the first batch of your device already manufactured? Well, it’s time that you get a potential distributor for your product. How? Read here!
Medical Device Market in a Nutshell
There is no denying that the distribution network for the medical device manufacturer is becoming more and more saturated with every passing day. All thanks to the independent and group purchasing organizations that are trying to become a part of the medical device distribution funnel. They are even collaborating thereby, reducing the number of medical device distributors and buyers.
Now, with all this concentration and competition in the medical device market, the distributors have started to prefer the manufacturers whose products have already gained prominence.
But still, many small-scale manufacturers struggle to get their products to the market by the traditional tactics. On the flip side, there are large scale device ones who face issues such as low volume product lines and no distributors.
Then, some manufacturers have highly effective product lines, but still, they are unable to reach the target audience.
So, how should you get to the distributors?
Go for expensive marketing campaigns? No! Go for extensive R&D and marketing? No! Follow the below-mentioned strategies.
Strategies to Get a Distributor for your Medical Device
- Start with Assessing Current Scenarios
Before you go on your search for the distributors, make sure you are aware of the current industry scenario. Know all the characteristics of your product.
After assessing the product, find the regions that you would like to target. Once you know your target locations, check whether it is a new product. Find the current statistics of product in the medical device market. Look for its margins, and you are good to go for the step of choosing a distributor.
- Consider Small Distributors
Rather than looking for renowned or leading distributors, consider distributors who have smaller loads or fewer clients. These types of individuals are often focused on the needs of their every client. They also have a strong knowledge base for a specific region and can help you build a stronger network there.
- Focus on a Specific Product Line
When you have manufactured medical devices, keep on reviewing the entire product line, your marketing, and try to improve them in every possible way.
If you make medical products on a small scale, you should start with creating a specialized product. A single specification goes a long way and also helps you have a strong name in the marketplace.
On the other hand, if you manufacture a group of products, there is a chance that all your products might not cover the entire niche.
- Hire a B2B Matchmaking service provider
B2B matchmaking companies such as MedicaMatch will search all the existing matching potential distributors in the given country and gives you an advantage to be one step ahead from all of your competitors.
Taking help from an external service provider will give you a headstart in finding and connecting with potential B2B partners.
- Work Towards Both Healthcare Service Providers and Distributors
The entire medical device supply chain consists of distributors and healthcare providers.
You might have always started with distributors, but there are slight chances that demand is high at the ground level as well. You can contact the healthcare providers and find out if they require your product for an end user or patient.
You can also conduct market research; find the physicians and hospital line who might be interested in your product. There is a probability that they might endorse your product, and your device may get popular in a broader segment of your region.
- Private Label Your Medical Devices
If you can manufacture enough medical devices to meet the rising demand, take a step towards private labeling. With this form of labeling, you can take advantage of retailers’ advertising, distribution efforts, and have your sales increased in no time.
Once the audience knows about your product or a broader section has been created for it, you can market the product under your name later.
- Give all the Details to the Distributor
When choosing a distributor, make sure you keep him aware of all the details. There are a few elements that distributors are concerned of; some of them include:
- Type of product line you sell.
- The profit that they can make on your product.
- Whether the product has scale capability or not.
- What inventory levels does he need to maintain?
- Is there a demand in the market for that product type?
- The total cost of stocking a specific medical device.
Regardless of how innovative is your medical product, a distributor will not buy from you, if he is not clear on details, does not make a significant profit or is unable to deal with the company.
The Final Word
All the changes in the medical device distribution market effects not only the manufacturers but also the customers, who are denied exposure to numerous effective products.
MedicaMatch helps the medical device manufacturers to gain access to the new markets, irrespective of the device they make. Equipped with more than ten years of experience in providing market access to many producers, we can assist you in finding the right salesperson for your line.
Moreover, our team is multi-lingual and gets you useful data, even from the non-English speaking countries. For more details, you can fill in this form http://medicamatch.com/#contact.
Once you get the potential distributor, you can harness the power of scale and place your medical device in the market.