Medica 2023: Latest Med-Tech Innovations, Same Old Problems for Marketers

Last week, Alex, one of our Business Development Managers, visited Medica 2023, one of the largest international trade fairs for the medical technology sector, held in Dusseldorf. With over 4,500 exhibitors and 81,000 visitors, Medica is a leading global platform for networking, innovation, and driving industry growth. 

Whilst speaking to exhibitors at the event, Alex discovered that many cited the considerable financial investment and environmental impact of travelling to the event as a key concern; something that many manufacturers have expressed across events, and something we can help to address.

The Hidden Costs and Carbon Footprint of Exhibiting

Attending international events like Medica comes at a significant cost, both financially and environmentally. The cost of exhibiting encompasses expenses such as booth construction, travel, accommodation, and marketing materials. This cost is amplified for med-tech manufacturers that want to showcase devices and equipment that need to be transported over and insured. 

Based on our experience attending events and working within the med-tech sector, we estimate that the direct cost of transporting products to Medica was over £20 million collectively; approximately £5,000 for every stand with physical products, and that’s not including floor space or time for logistical planning.

Beyond the financial costs, there is a significant carbon footprint associated with transporting products, materials, and personnel across borders - a concern for med-tech manufacturers that want to increase their environmental sustainability.

According to a report by the Green Meeting Industry Council, the carbon footprint of attending international events is substantial. Air travel alone contributes significantly, with emissions increasing as the distance travelled and the number of attendees rise. The environmental impact is further increased by the production and disposal of marketing collateral, booth materials, and other event-related items, 60% of which end up in landfill. 

MARTECH3D's Sustainable Solution

At MARTECH3D, our award-winning 3D marketing and sales platform offers a viable event solution for med-tech manufacturers that not only reduces event costs, but also minimises the environmental impact associated with traditional exhibitions.

Interactive 3D Product Guides and AR Product Viewers

We develop interactive 3D product guides and augmented reality (AR) product viewers that med-tech manufacturers can leverage at events to provide in-depth product demonstrations - without the need for physical products. You can showcase the complexities and inner workings of your products, to scale, in a way that is just as interactive as having the product in front of you, without the need to transport it.

Reducing Costs

One of the main benefits of adopting the MARTECH3D platform is the significant reduction in expenses traditionally incurred at trade show exhibitions. With the use of interactive 3D product guides and AR product viewers, you can negate the cost of transporting equipment, bringing your total expenses down considerably. You can also save on insurance costs - another significant saving. 

In addition, the versatility of 3D and AR content allows for reuse at every event and across various marketing and sales channels, providing long-term value for the initial investment. 

Why not use our trade show ROI calculator to see how much you could save on event costs when you use the MARTECH3D platform. 

Minimising Environmental Impact

Our 3D sales and marketing platform aligns with the growing commitment of med-tech companies to reduce their carbon footprint. By eliminating the need for extensive travel and physical materials, the environmental impact associated with attending events like Medica is drastically reduced. In addition, AR technologies have been proven to cut travel-related carbon emissions by up to 58% (PwC), cementing the viability of virtual showrooms and 3D marketing technology for events.

Given that most manufacturers are bound by government targets and 80% of consumers think about sustainability when making buying decisions (Deloitte), this is a key consideration for most businesses in the sector. 

The Impact of 3D in Product Marketing and Sales

We understand how vital trade shows like Medica are for med-tech manufacturers and how the prospect of not taking products and devices can seem daunting from a sales and lead gen perspective. 

The MARTECH3D platform is designed for sales excellence and has proven its effectiveness in delivering remarkable ROI outcomes for manufacturers. For example, MEON UK noted a 32% increase in live leads when using their platform at events, and ChargePoint Technology successfully slashed their trade show costs by half while concurrently achieving a substantial increase in lead generation at trade shows.

The Harvard Business Review found that interactive 3D content increases customer engagement and product understanding, and. Forbes found that 3D and AR technologies contribute to more immersive and memorable experiences, enhancing brand recall and customer satisfaction. 

Due to the scalability and photorealism of our digital twins, delegates can interact with a product like they would in person, meaning there is no negative sales impact of swapping a physical product for a 3D version on the MARTECH3D platform.

Conclusion

Attending events like Medica is vital for manufacturers, but it also highlights the role MARTECH3D can play in helping med-tech organisations showcase products, reduce costs, and increase their sustainability. 

If you’re in the med-tech sector and want to explore how we can help you cut your event costs and emissions whilst increasing live lead generation, book a demo with a member of our team.