Observations on the Return of MedTech Conferences
The resurgence in the market is evident in the return of MedTech trade shows and conferences. After so many events were cancelled or moved to on-line only formats over the past 18 months, we are experiencing a return to face-to-face meetings and the benefits that come along with them. Participation in in-person meetings is the “light at the end of the tunnel” for many med tech companies.
Since August, Kinsella Group has been in attendance at MD&M-Anaheim, MPO Summit-Salt Lake City, AAOS-San Diego, NASS-Boston, BIOMEDevice-Boston and ASSH-San Francisco. We expect to attend additional trade shows through the remainder of 2021 and into the foreseeable future.
Kinsella Group, with a sole focus on MedTech, has found these recent trade shows to be outstanding forums to conduct meetings with active clients and prospects and strengthen our connections in the industry. Although the world has made significant strides over the past 18 months in moving to on-line video conferencing, we’ve found that in-person meetings continue to be a much more effective way to move business discussions forward.
Interestingly, despite lower physician attendance, most exhibiting companies still consider these recent trade shows to be worth the investment – and of much greater value than on-line trade shows proved to be. MD&M Anaheim, for example, hosted only about 50% of the 20,000 attendees it has seen in past years. However, in speaking with exhibitor personnel in the booths, many reported higher quality leads generated as a result of attendance. With fewer attendees, conversations at the booth were more thoughtful and less rushed.
Another unexpected consequence in the reduction of attending physicians is that exhibiting companies have had more time for B2B conversations. With many CMOs and OEMs looking to accelerate their 2022 growth through acquisitions, companies have made use of rentable meeting room space on the exhibit floor to hold discussions with potential partners outside the earshot of interested competitors.
For many meetings, restricted international travel has resulted in fewer foreign vendors and attendees. Getting a visa to come to the US for a trade show appears to be somewhat of a hit-or-miss experience according to attendees that were successful in making it through the process. As we move to 2022, we expect the number of international visitors to continue to grow.
With the challenges that the pandemic continues to present, conference organizers have done exceptionally well in accommodating attendees and encouraging participation. Fewer booths have allowed for wider aisles and more space between structures, allowing for social distancing. Vaccination or negative PCR-test requirements, temperature checks and hand sanitizing stations provide additional safety measures for attendees and exhibitors.
Kinsella Group, Inc is an investment bank focused exclusively on the MedTech and medical contract manufacturing markets. Kinsella Group has been representing buyers and sellers in this space for over 20 years, working to exceed desired outcomes. For more information, please contact Bob Kinsella at email@example.com or by calling (312)229-1357.