Medical Device Marketing Overview:
Many exciting careers are available in medical device marketing. Medical device marketing careers combine medicine, science, technology, and marketing into one challenging career. Medical device marketers are typically employed by medical device manufacturing companies. A medical device typically is a piece of equipment used in surgery, such as an implant, or other device used inside or outside the patient's body. Medical devices may also include disposable medical supplies, or durable medical equipment, but for our purposes here we will focus on implantable devices and other small devices used in clinical settings.
Job Responsibilities for Medical Marketing Roles:
Typically, medical marketers manage all aspects of a product "from cradle to grave", including packaging, pricing, labeling, store displays, website design, advertising, roll-out, press releases and ongoing PR, customer service, and anything that goes along with marketing a new product.
Medical device marketers may work in conjunction with the sales team, regulatory affairs, and research and development. These departments will work together to devise the most effective product launch and marketing campaign. Information from clinical trials and market research will help project sales and do a proforma for the product.
Educational Requirements for Medical Device Marketing:
If you don't already work in the medical device manufacturing industry, you may be surprised to learn that most medical device marketers have an engineering background, rather than a marketing background. Due to the technical nature of medical devices, medical device marketers must be able to comprehend and communicate on a technical level with clinicians, the prospective consumers or patients, and scientists in research and development. Therefore, a degree in engineering is often required. Biomedical engineering, mechanical engineering are two popular degrees for medical device marketers.
While a bachelor's degree is required at a minimum, most medical device marketing roles require a master's level degree in engineering or related subject. Other science or technology degrees may be acceptable in some cases such as biology, biochemistry, etc.
Medical Device Marketing Career Path and Salary Ranges:
Most people enter the field of medical device marketing at the Product Manager level, although some manufacturers may also have a need for Assistant Product Managers. The Product Manager is responsible for one product, again, managing all aspects of that product's market presence. Product managers earn from $40,000 to about $75,000, depending on level of education and experience.
Next, as the product manager gains more experience, they may be promoted to senior product manager. The role is basically the same as product manager, except now the person has more experience, so the pay is higher (about $60,000-90,000),
and the product being managed by the senior PM may be larger in projected revenue or have a higher profile.
From senior product manager, the next step in many organizations is Marketing Manager, or sometimes Director of Marketing. At this level, medical device marketers may be earning well above six figures, and managing a team of product managers, overseeing an entire line of products.
Director of Marketing may then lead to Senior Director, and then eventually to Vice President of Marketing. At that executive level, the VP of Marketing would be responsible for all of the company's device marketing at a macro level.
All product managers would report up through the Directors of Marketing who would report to the Vice President of Marketing, who is responsible for the entire P & L (profit and loss) of the marketing arm of the company.
The exact path may vary, but most organizations have similar levels of marketing within their company, depending on the size and structure of the firm.
Required Skills for Medical Device Marketing Careers:
Medical device marketing requires excellent communication skills, both written and oral. A keen understanding of the medical terminology related to the product is very important. Medical device marketers must be skilled at project management, including delegating, planning, problem-solving, and trouble-shooting. Additionally, product managers must be good at working as part of a team, and leading a team. The ability to understand, implement, and execute basic marketing principles and strategies is also very important.