TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, various medical specialists perceive medical devices differently and evaluate medical device brands using widely differing criteria. For example, while orthopedic surgeons are generally satisfied with the medical device companies they interact with, radiologists have low levels of satisfaction, and complain about poor customer service, products that are difficult to use, sales reps and inconsistent reliability.
“The report gives device companies in each specific therapeutic market a specific view of the way specialists in that market judge products”
Despite their high satisfaction, orthopedic surgeons typically purchase products from more than half a dozen companies simultaneously. This level of market fragmentation is second only to that in interventional radiology. The needs of orthopedic surgeons are too diverse to be met by only one or two companies. By contrast, electrophysiologists, spine surgeons and radiologists routinely use products from only three or four vendors, indicating a narrower set of needs. Spine surgeons and radiologists do commonly switch between vendors, indicating low brand loyalty.
Manufacturers of medical devices need to be aware of these varied behaviors when attempting to differentiate their products in the market. MRG created its Perception Pulse product to focus directly on those aspects of customer perception that most influence purchase decisions. Its new Brand Perceptions in the US Medical Device Industry report compares and contrasts overall satisfaction, brand advocacy, and the strengths and weaknesses of major companies selling medical devices across ten different medical specialties: cardiac surgery, electrophysiology, interventional cardiology, interventional radiology, neurosurgery, OB/GYN surgery, orthopedic surgery, plastic surgery, radiology and spine surgery.
While specialties vary widely in their typical responses, there is also a wide range of perceptions within each specialty. Customer satisfaction can vary significantly depending on the brand. In general, large multinational medical device conglomerates perform better on these measures than do smaller niche manufacturers.
“The report gives device companies in each specific therapeutic market a specific view of the way specialists in that market judge products,” said MRG Senior Analyst Nick Morris. “This allows them to make decisions about how to position and refine their products. It also gives them a realistic view of what to establish as reasonable goals. Some specialties switch brands frequently, or distribute their purchases in a way that makes large market share difficult to achieve.”
These results are based on a study of more than 800 physicians across the United States. The study was run in coordination with MRG’s partner Manhattan Research.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
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