The restrictions placed on in-person engagements during COVID-19 led to new practices and preferences, and placed greater importance on aspects beyond product. The medtech industry is not only fragmented, but changing too.
Who is "responsible" for shaping the experience of different stakeholder groups, including patients, HCPs, and procurement professionals? How do businesses transform how they operate to meet the needs of these different stakeholder groups? And how do they provide a stellar experience in fast-growing sectors, like ambulatory care? 1 Pooja Kumar and Ramya Parthasarathy, “ Walking out of the hospital: The continued rise of ambulatory care and how to take advantage of it,” McKinsey, September 18, 2020. However, in a highly regulated and complex industry like medtech, the answers for how to do this are not always clear. This article is a collaborative effort by Ralph Breuer, Marcel Meuer, Kevin Neher, Karen Passmore, and Delphine Zurkiya, representing views from McKinsey’s Growth, Marketing & Sales and Life Sciences practices.
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