Surgebright is a medical technology company offering Shark Screw®, an innovative allogeneic bone screw for orthopedic procedures. The product has been successfully used since 2016 in Austria and other European countries. In 2023, Surgebright decided to launch Shark Screw® in the United States (U.S.). The aim of this master thesis is to provide Surgebright with strategic recommendations to support market growth in the U.S. The focus lies on three key areas: (1) the insurance system, reimbursement, and hospital approval, (2) market expansion through niche markets and Key Opinion Leaders (KOLs), and (3) product development and adaptation. To address the research question, a triangulated methodological approach was chosen: (1) desk research analyzing the U.S. insurance and reimbursement system, the hospital procurement process, and key marketing strategies with a focus on KOLs; (2) a comparative analysis of the application of Shark Screw® versus metal implants in TMT arthrodesis, and (3) qualitative expert interviews with six US distributors. The insights from these three areas were combined to develop strategic recommendations for Surgebright. The research shows that, for reimbursement and hospital approval, contracts with national Group Purchasing Organizations (GPOs) and evaluation of relevant CPTcodes are central. The documentation folder for hospital approvals should be supplemented with clinical and health economic evidence. For market expansion, selecting suitable distribution partners, appointing a U.S.-based contact person, and collaborating with KOLs are recommended. Niche markets, such as the shoulder area, offer special opportunities due to better reimbursement and less competition. Studies and congresses further support growth. In product development, introducing a Shark Screw® that provides compression is a priority, as this feature is requested by surgeons and is standard among competitors. Expanding the product portfolio could additionally increase the range of indications. One of the most requested products was a Shark Screw® anchor. The recommendations aim to help Surgebright increase acceptance among US orthopedic surgeons and secure long-term competitive advantages.
- Innovation and Product Management
Growth Strategy for a MedTech Company in the U.S. Orthopedic B2B Sector
Grottenthaler, S. (Author). 2025
Student thesis: Master's Thesis