Short Title:
Tips finding buyers
Sector:
Medical and Laboratory Devices
Reading time:
6
Updated at:
Wednesday, August 17, 2016
Document name:
How to find buyers for Medical Devices and Laboratory Equipment on the European market (2015)
Intro:
Due to the wide variety and specific segments in the medical and laboratory field, it is not always easy to find buyers of medical devices and laboratory equipment. The following 10 tips can help you to find buyers in Europe more effectively. Success in actually finding them, however, will require an active and persistent attitude.
Content study:
Title:
Start at the CBI Market Intelligence Portal
Body:
Your own market research begins in your office. The internet offers a wealth of interesting details relating to your products, markets and potential customers. One good place to start is the CBI Market Intelligence Portal. This portal contains several documents that offer a large amount of intelligence on the European market for medical and laboratory equipment market. The following are a few examples:
Which trends offer opportunities on the European market for medical and laboratory devices?
Which channels can I use to bring medical devices and laboratory equipment to the European market?
What competition do I face on the European market for medical devices and laboratory equipment?
The product fact sheets offer an overview of ‘everything you need to know’ about specific products. Examples include:
Surgical Instruments (Benelux)
Syringes, needles and catheters (Benelux)
Anaesthetic apparatus and appliances (Benelux)
Orthopaedic appliances, instruments and implants (Germany, Austria and Switzerland)
Electro-diagnostic apparatus (Benelux )
Endoscopic devices (Germany, Austria and Switzerland)
Bandages, gauze and dressings (Germany, Austria and Switzerland)
Title:
Optimise your website
Body:
When you target and contact potential customers, you can expect them to visit your website.
For this reason, your website should obviously have a professional look and contain up-to-date information about your company and product range. Your website should include the following content:
Company information and ‘about us’ details, including contact information
Product range, technical capabilities, specifications
Certificates and accreditations
Production process and capacity
References from customers (many end users request references in order to obtain information about results and practical experiences).
Title:
Consult the websites of sector associations, as well as industry directories and portals
Body:
European companies are often members of sector associations. Some are dedicated to the surgical equipment industry, while others are related to the manufacture of medical disposables and medical/industrial components. In many cases, these sector associations publish membership lists on their websites. These members could be potential clients. Consult the website of the sector association in the specific country, segment or other area that offers the best opportunities for you.
European Federation of Associations of Health Product Manufacturers (EHPM)
MedTech Europe – an alliance of associations for the European medical technology founded by the European Diagnostic Manufacturing Association (EDMA) and the European
Confederation of Medical Devices Associations (EUCOMED) (part of the MedTech Europe website). The MedTech Europe member area features a list of distributors/importers in Europe.
The portal MedicalDeviceIndustry.com provides a list of links to many medical-device companies and associations throughout the world.
Title:
Link to prospects through LinkedIn
Body:
LinkedIn is a good tool for making contact with people who are influential within their companies. LinkedIn is a professional networking tool for people in business. Once you have created an account, you will be able to search for and connect with companies, people and groups.
Title:
Visit trade fairs in Europe
Body:
A visit to a trade fair visit offers good opportunities for meeting potential buyers. Before the fair, you can prepare a plan for your visit, including a list of interesting companies. Note that the people you will be meeting include managing directors, purchase managers, sales representatives or other parties. Most of them will be able to provide useful information about their companies (e.g. manufacturers, distributors, agents, wholesale organisations, hospital organisations or logistically orientated companies in the medical field). Many manufacturing companies are currently looking to outsource parts of their production line.
The Events Eye website is a good starting point for finding trade fairs. Amongst other options, the site offers a keyword search.
The following are the world’s most important trade fairs for this sector:
MEDICA – Düsseldorf, Germany
Arab Heath – Dubai
Hospitalar – Sao Paulo, Brazil
Medical Fair Asia – Singapore
Medical World Americas – Houston, USA
The most dedicated fair in Europe is the world forum known as MEDICA in Düsseldorf Germany. As with any trade fair, MEDICA has an exhibitor database, offering visitors the possibility of selecting the companies that they would like to meet.
Many European buyers also attend trade fairs that are held outside of Europe.
Title:
Visit a medical conference
Body:
If your company targets a specific market segment (e.g. surgical instruments, anaesthesiology, minimally invasive surgery or total wound care), there are also several combined conferences/trade fairs in Europe that serve those industries. At a conference, you can meet a wide variety of stakeholders (physicians, specialised technicians, nurse practitioners and product managers), many of whom are decision-makers regarding the purchase of medical and laboratory equipment.
Segment-orientated European conferences are a combination of conferences and trade fairs. Examples include the International Dental Show (IDS) in Germany and the European Society for Cataract and Refractive Surgery (ESCRS), which moves throughout Europe (London-Paris-Lisbon).
If you visit trade fairs or attend conferences, be sure to purchase the fair/conference catalogue, as it provides a large amount of information about the market and potential buyers.
Title:
Participate in trade fairs in Europe
Body:
Although participation in trade fairs can be costly, it can be worth the costs if you are well prepared and organised. For example, you could prepare a list of potential customers in advance (located by using the tips listed here) and make personal invitations for them to visit your stand. Before deciding to exhibit at a fair, it would be wise to experience the fair as a visitor first.
Title:
Participate in trade missions
Body:
Trade missions (both incoming and outgoing) provide opportunities for contacting European or other foreign companies. In this regard, it is important to have a good relationship with business support organisations or national trade promotion organisations in your country. If you attend Medica, be sure to visit ‘Holland House’, which is organised by the Dutch government (Ministry of Economic Affairs). The representatives there can bring you into contact with companies that are looking for new suppliers or manufacturers for purposes of outsourcing.
In many cases, commercial counsellors at the embassies of your European target countries and the regional Chambers of Commerce of European countries can also provide information about upcoming trade missions. They can also provide other information about doing business in their countries.
Title:
Prepare in advance
Body:
Before contacting a company, collect as much information as possible about the company (e.g. what is posted on the company’s website, whether the company has a LinkedIn profile or employees on LinkedIn). In addition, consult the CBI study on Doing Business with European Buyers of Medical and Laboratory Devices.
Title:
Customise your offer to the needs of prospects
Body:
In your search for new buyers, you will gain considerable insight into their needs and requirements. All of this information should be recorded in visit reports, trade fair reports or other documents. Even more importantly, this ‘intelligence’ should be translated into action. Adapt your products and services in ways that will suit the needs of potential buyers you meet.
Last updated:
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Tags Sector:
medical and laboratory devices
Tags Type_of_study:
tips for finding buyers
Tags Country:
europe
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