The healthcare industry is one of the most lucrative markets in the world. A massive number of consumers and businesses use medical devices every single day in their quest to improve their health and well-being. With the advent of new technologies and advancements in medicine, it’s no surprise that medical device eCommerce has become an integral part of this industry.
The State of eCommerce in the Medical Device Industry
The medical device industry, which encompasses everything from surgical tools to infusion pumps to diagnostic equipment, is massive. Globally, the sector has an estimated value of $600 billion and is expected to grow at a rate of 5% annually over the next decade.
The medical device eCommerce market represents only a tiny portion of this industry; however, growth rates for online sales are significantly higher than those experienced in other sectors.
Benefits of Selling Medical Devices Online
There are several benefits to selling medical devices online. Reach a wider audience and sell to international customers. You can also sell to customers who don’t have time to visit a store or even to people who cannot find something in their area.
What’s Driving Adoption Of eCommerce In B2B Medical Devices Industry
The demand for medical devices has increased as more patients are treated and doctors diagnose more illnesses. By the end of 2023, the global medical device market will be worth $500 billion.
In addition to this increase in demand, there will also be a rise in sales. This can be attributed to increased sales opportunities from existing and new customers. While some companies sell directly through their websites, others outsource this process to third-party eCommerce platforms like Shopify Plus or OroCommerce.
How to Boost Your Sales Using the right B2B eCommerce platform?
Whether you are a small business or a large corporation, it is crucial for your organization to find the right B2B eCommerce platform. Here are some tips on how to choose the right platform:
Choose an easy-to-use B2B eCommerce platform. The best platforms make it easy for users to navigate the website without any confusion or difficulty.
Pick an easy-to-integrate B2B eCommerce platform. Choose a platform that can easily integrate with your existing website, making it easier for customers to find and purchase your products via their mobile devices or desktop computers.
Choose an easy-to-manage B2B eCommerce platform that offers all necessary features such as inventory tracking, taxes calculation, payment processing, etc., but also has flexibility in adding personalized features like custom descriptions and logos that represent your brand/business identity as well as personalizing search results according to customer preferences and behavioral data (if available).
The top three medical device eCommerce platforms include OroCommerce, Shopify, and BigCommerce.
OroCommerce, Shopify, and BigCommerce are the top three medical device eCommerce platforms.
OroCommerce: This is the most flexible and feature-rich platform for medical device eCommerce. It’s perfect if you need much customization or have a complex product line with many SKUs (stock-keeping units). And suppose you’re looking for an eCommerce platform to manage inventory across multiple channels. In that case, OroCommerce is your best bet—you can import your products from other systems into its CMS system, so they’re all in one place. However, while OroCommerce offers some support services to its customers, including consultations and dedicated account managers, it has fewer tools than Shopify or BigCommerce regarding SEO optimization or conversion tracking metrics like funnel analysis reports.
Shopify: A good choice if you’re looking for a simple but powerful platform that helps businesses build their stores quickly with no technical expertise. While there are some limitations on customization options compared with Orocommerce or Bigcommerce (which allow more freedom), Shopify does provide additional services such as customer support via phone calls instead of just email queries, so this makes up for some of those differences between them overall when compared.
BigCommerce: If you’re looking for a system that offers an all-inclusive solution, then BigCommerce is the best platform for you—it has everything you need to build and manage your online store. Its support service is also outstanding (they have 24/7 live chat), so if you have any issues with any part of your store, they’ll help you fix it fast.
The Pitfalls of Selling on Amazon for Manufacturers
Amazon is a great place to sell products but not the only place. Amazon is a great place to start selling on and can grow into a behemoth if you don’t diversify your strategies.
One of the biggest mistakes companies make when they start selling on Amazon is that they think it will be easy and need more time or resources to manage their platform.
The truth is that Amazon has its own rules and processes, which are different from other eCommerce platforms like Shopify or Magento. If you try selling on Amazon, you need to make sure you understand what those rules are before diving in headfirst.
Here’s why it’s a good idea to sell medical devices online.
Online sales are proliferating, and it’s estimated that by 2020, 30% of all retail sales will be conducted online.
Online shopping offers several advantages to medical device companies:
Reach more customers. With the internet and social media, you can reach people worldwide who may otherwise never know about your products—making it easier for them to buy them from you.
Sell internationally. Medical devices are often used in countries with little awareness of local providers or distributors, so shipping directly from your website can be an asset if you’re looking to expand globally.
In summary
The medical device industry is growing, and it’s time for you to decide before your competitors do. Many options are available for selling your products online, but you must choose the right one. The best way to do this is by considering all the factors above and developing an action plan to help get your business onto the first page of Google search results while providing customers with an easy way to purchase your product online.
