The interventional cardiac market is an innovative and exciting place to work. Demographic trends around ageing populations and increased incidents of diabetes and obesity suggest that the market will continue to grow at a significant rate. When this is combined with the increase in political focus on the costs and impact of the cardiac burden on the healthcare system, it is easy to understand why companies have been eager to explore the potential opportunities within the market.
Departmental spend budgets have not grown within the cardiac field even though the disease burden increases, meaning that the resources that clinical decision makers have available per patient declines year on year. An added burden to manufacturers is that the largest revenue product categories have been flooded with generic entrants, and when this is combined with strong price pressure and a desire to maintain value-add services, margins have eroded rapidly to unsustainable levels.
The challenges around customer engagement is also evolving. Sales processes have become more fragmented and convoluted, whilst accessing decision makers is increasingly hindered by bureaucracy and gatekeepers. The digitalisation of communication has provided the opportunity to adapt marketing activities without losing impact, however the growth and protection of revenues is still primarily driven by the effectiveness of the sales activity.
This is where Taruna Medical can help. By operating a platform where the cost is directly related to revenues, Taruna can reduce fixed costs whilst still facilitating access to key decision makers. The Taruna members only earn a percentage of what they sell, meaning they are eager and driven to generate revenue. If you are a manufacturer of Interventional Cardiology products and would benefit from increased engagement without increased fixed cost, then please get in touch.