Since 2020, the medtech industry has struggled with low growth rates compared to the eight preceding years. Although growth began to return to prepandemic levels in 2023,1 medtech companies still struggle to understand how to accelerate and sustain growth.
Based on research with more than 60 medtech companies, McKinsey analysis suggests that commercial capabilities are a strong predictor of growth. Companies with the most advanced commercial capabilities had a CAGR 1.4 times higher than that of companies with average commercial capabilities. Conversely, companies with less developed commercial capabilities fell below the average growth in their segments of the market.
This article builds on findings from McKinsey’s Commercial Quotient, a commercial capabilities assessment for the medtech industry. Medtech companies that learn to enhance their commercial capabilities, especially in seven specific practices, could capture more customers and accelerate profitable growth.
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