Expanding into Latin America offers tremendous growth opportunities for medical device manufacturers, but not every market entry goes as planned.  Here are some of the most common pitfalls and how medikana ensures your success.

1. Partnering with the Wrong Distributors

Not all distributors are the right fit for your product. Many manufacturers rush into partnerships without ensuring their distributors have experience in their specific medical specialty. A distributor may have a strong network, but if they lack expertise in your field, they might struggle to position your device effectively.

The Consequences:

• Poor sales performance and limited market penetration
• Difficulty securing key hospital and clinic accounts
• Misalignment in marketing and sales strategies

How medikana Helps: We identify and connect you with the right distributors, ones that have experience selling in your specific medical field, have complementary products in their portfolio, strong existing relationships with key buyers, and a track record of success in their country.

2. Choosing a Country with High Regulatory Complexity as Your First Market

LatAm regulatory frameworks vary significantly from country to country. Some big markets, like Brazil and Mexico, have stringent and time-consuming registration processes that can take years, while others, like Chile or Colombia, have more streamlined pathways. Manufacturers often make the mistake of targeting the largest markets first, without considering the regulatory burden.

The Consequences:

• Long delays in market entry, sometimes up to two years
• High costs for compliance and registration
• Frustration and lost momentum before even making a sale

How medikana Helps: We propose the right entry strategy, balancing countries that offer a smoother regulatory pathway with bigger sized markets. This allows you to generate early traction and revenue while tackling more complex markets.

3. Launching in an Oversaturated Market

If your device faces intense competition, entering a market without a clear differentiation strategy can lead to failure. LatAm has well-established medical device brands, and launching without a competitive edge makes it difficult to gain traction.

The Consequences:

• Price wars that erode margins
• Difficulty convincing distributors to prioritize your product
• Resistance from doctors and hospitals that already have trusted alternatives

How medikana Helps: We conduct competitive landscape assessments before market entry, ensuring that your product is positioned strategically with the right pricing and key selling points that set you apart from competitors.

4. Not Engaging Local Key Opinion Leaders (KOLs)

Key Opinion Leaders (KOLs), influential doctors, surgeons, and hospital decision-makers play a crucial role in LatAm medical device adoption. Many manufacturers assume that distributors alone will drive sales, but without local champions advocating for your product, it can be challenging to gain trust.

The Consequences:

• Low adoption rates among doctors and hospitals
• Limited credibility in the market
• Slow sales despite distributor efforts

How medikana Helps: We help you establish relationships with key local KOLs early in the process. By leveraging their influence, your product gains credibility faster, driving interest and adoption among healthcare providers.

How medikana Ensures Your Success in LatAm

Expanding into LatAm is complex, but medikana makes the process easier by avoiding these common pitfalls. Our first deliverable is a deep market analysis, ensuring that before you even enter a market, we uncover regulatory pathways, competitive landscapes, pricing strategies, and market opportunities. This approach prepares your product for success and helps you avoid costly missteps.

We offer:

• Comprehensive Market Analysis: Our first module provides in-depth insights into regulatory requirements, competitive positioning, pricing, and commercial opportunities in each target country.
• Expert Distributor Matchmaking: We connect you with specialized, high-performing distributors who are aligned with your product category.
• Strategic Market Selection: We help you identify the best initial markets based on regulatory ease, commercial viability, and competitive landscape.
• Competitive Positioning: We ensure your product enters the market with a strong differentiation strategy, avoiding price wars and maximizing value.
• KOL Engagement Support: We facilitate introductions and partnerships with local influencers in the medical field to enhance adoption and credibility.

By partnering with medikana, you can enter LatAm with confidence, avoiding common mistakes and ensuring a successful market expansion. Let’s take your product global—the right way.

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