ARTICLE SUMMARY:
Developers of disruptive medical technologies face a pioneer’s burden. They’re challenged with monetizing a unique product with no precedent to build upon. The medtech team of the market strategy consultancy Simon-Kucher & Partners shares its perspective on components of monetization strategies for companies offering paradigm-shifting products. By Chuck Gammal, Christopher Barr, Alec Moretti, and Madison Mahoney.
In most industries, the superlatives “breakthrough” and “disruptive” are sizzling marketing claims designed to incite customer interest in a product that is unlike any other; it does something that has never been done before or advances the state of the art in a dramatic way. But when it comes to medical devices and other products used in medicine, these terms induce almost as much fear—on the part of developers and their customers—as excitement.
