Consulting for the entry into medical technology for industry – companies
Medical technology is one of the largest and most successful industries in the world and, unlike the automotive industry or the aviation industry, has come through the recent crises in a very stable manner.
The sananet consultancy advises you if you as an industrial company, e.g. from the automotive or aerospace sector, want to enter the health care sector in order to build up a second mainstay in medical technology. The medical technology sector offers a multitude of opportunities for companies that want to expand into new industries, but the entry also has risks. With our know-how and experience in the field of medical technology, we are the ideal partner for industrial companies wishing to enter this growth market.
Medical technology as a second mainstay for the automotive or aerospace industry
sananet consultancy specializes in medical technology and can help you gain a foothold in this attractive sector.
Due to the changing markets, we have noticed that companies, e.g. from the automotive industry, the aerospace sector or mechanical engineering and plastics technology, want to establish a second mainstay in medical technology. In contrast to the automotive sector and aircraft construction, medical technology promises stable and crisis-proof growth.
sananet advises you in all steps to enable you to successfully enter the healthcare sector and to take into account the secret rules of the game in the medical technology market.
Why is medical technology so attractive for industrial companies?
First of all, there are a number of similarities between medical technology and other highly technical industrial sectors such as automotive, aerospace, mechanical engineering and plastics technology that facilitate the transformation to medical technology. In principle, medical technology is mechanical or electrical engineering.
There are similar quality requirements for medical devices as for manufacturers and suppliers in the automotive sector, which is a major advantage when entering the field of medical technology. Almost all medical devices are regulated. Regulation here means that certain aspects (directives, laws, standards, etc.) relating to safety and effectiveness must be fulfilled in order to allow the product to be sold. CE approval in accordance with the MDR is important here, for example. Automotive suppliers with their distinctive quality management have advantages here in the transformation to medical technology.
The ability to plan in medical technology is comparable to that of other mechanical engineering companies, automotive suppliers or electronics manufacturers. In sananet’s experience, however, medical technology is not as vulnerable to fluctuations caused by external influences as we have seen during the coronavirus crisis.
Medical technology is an industry that faces tough international competition. Nevertheless, sananet still sees significantly better returns for medical products than for products from automotive suppliers, for example.
The same innovations are taking place in medical technology. In the automotive industry, this is only more visible to the public.
What are the differences when diversifying into medical technology?
In many industrial sectors such as automotive suppliers, aerospace or mechanical engineering and plastics technology, the manufacturer is usually a supplier of small parts and components. There is a large degree of decoupling from the end customer. The quantities are usually very high, but the margin is very low. This leads to a high level of dependency.
In medical technology, on the other hand, more complex sub-units through to complete products are usually manufactured as OEMs or ODMs. Suppliers in medical technology are also more of a development partner, which reduces dependency and interchangeability.
The quantities are generally not so high for medical products, but the margin is much higher, which is not so fatal in the event of fluctuations in raw material prices and energy costs, for example.
How does sananet management consultancy help industrial companies to diversify into medical technology?
Depending on the initial situation and prior knowledge, sananet advises them on all the necessary steps. sananet’s goal is to offer our clients comprehensive and very practical consulting services to best support industrial companies in their transformation to medical technology. We offer customized solutions for each company to ensure that our customers can operate successfully in medical technology.
The project can take place in the following steps:
- workshop, strategy consulting, recommendation of business models
- qualitative market analysis – definition of possible target segments in medical technology that match your core competence in the automotive or aerospace sector
- support during the selection process (in case of acquisition) incl. scouting for possible companies or internal set-up
- further support as required
Along the way, we can provide you with initial contacts to customers from the medical technology sector so that your first experiences are immediately linked to sales.
The sananet management consultancy will be happy to support you in the following areas:
As an experienced management consultancy, we are familiar with the challenges that industrial companies, e.g. from the mechanical engineering and plastics technology, automotive or aerospace sectors, face when expanding into the medical technology sector.
Not only the classic areas of a market analysis such as the potential in the market and in particular the position or the competitive landscape of – possibly exclusively – medical technology manufacturing companies for such a product should be covered. The consultancy must also cover market mechanisms and conceivable business models and thus serve as a basis for decision-making when entering the medical technology market.
We help our clients to master these challenges and successfully establish their business in medical technology. Contact us for an initial, non-binding discussion.
Trade article in “Plastverarbeiter”: “How to make the leap into medical technology”
MedtecLIVE “Transformation: Companies opt for medical technology”
