Are you a strategic thinker with a passion for innovation in the medical device industry? We are seeking a Director of Product Strategy (Medical Device) in Chicago, IL to lead product roadmaps, drive market expansion, and enhance product portfolios. This role is ideal for a visionary leader with deep expertise in market analysis, competitive positioning, and cross-functional collaboration. If you have a strong background in product strategy, lifecycle management, and commercialization within the medical device sector, this is an opportunity to make a lasting impact on cutting-edge healthcare solutions.
About This Role
The Director of Product Strategy (Medical Device) in Chicago, IL plays a pivotal role in shaping the company’s product vision, market positioning, and growth strategy within the competitive medical device industry. This position requires a strategic thinker with a strong background in product lifecycle management, market research, and commercialization to drive innovation and ensure long-term business success. The role is highly cross-functional, requiring close collaboration with R&D, regulatory teams, sales, and marketing to develop and execute product strategies that align with industry trends, customer needs, and business objectives.
As the Director of Product Strategy (Medical Device) in Chicago, IL, you will be responsible for analyzing market dynamics, identifying growth opportunities, and defining go-to-market strategies for both existing and new product lines. You will play a key role in portfolio management, pricing strategies, and competitive positioning, ensuring the company remains at the forefront of medical technology innovation. This is an exciting opportunity to drive high-impact product strategies in a fast-paced, forward-thinking organization that is committed to improving healthcare outcomes through cutting-edge medical device solutions.
Key Responsibilities – Director of Product Strategy (Medical Device) in Chicago, IL
Develop and Execute Product Strategy
- Define and implement a comprehensive product strategy that aligns with the company’s long-term business goals.
- Analyze market dynamics, competitive intelligence, and customer needs to drive innovation and differentiation.
- Establish clear product roadmaps that outline short-term and long-term growth opportunities.
Lead Market Research and Competitive Analysis
- Conduct in-depth market research to assess customer demands, industry trends, and competitor offerings.
- Utilize data-driven insights to inform product development and positioning strategies.
- Identify potential market gaps and opportunities for new medical device innovations.
Drive Product Lifecycle Management
- Oversee the full lifecycle of medical devices from ideation to commercialization and post-market analysis.
- Ensure product enhancements, modifications, and retirements are based on data-driven decisions.
- Work closely with regulatory and compliance teams to meet industry standards and approvals.
Collaborate with Cross-Functional Teams
- Partner with R&D, sales, marketing, and operations teams to align product development with business objectives.
- Foster collaboration between departments to enhance efficiency and accelerate go-to-market strategies.
- Act as the key liaison between leadership and product teams to ensure smooth execution of strategic plans.
Develop Go-To-Market and Commercialization Strategies
- Formulate effective launch strategies for new medical device products, ensuring successful market entry.
- Define value propositions and positioning strategies that drive sales and customer adoption.
- Work with marketing teams to create compelling messaging and promotional campaigns.
Enhance Customer and Stakeholder Engagement
- Build relationships with key opinion leaders (KOLs), healthcare providers, and industry experts.
- Gather direct feedback from customers to refine product features and improve user experience.
- Represent the company at industry conferences, trade shows, and networking events.
Optimize Revenue Growth and Profitability
- Identify opportunities to maximize revenue through pricing strategies, product differentiation, and market expansion.
- Develop cost-effective approaches to product development and resource allocation.
- Monitor key performance indicators (KPIs) to track success and make necessary strategic adjustments.
Ensure Regulatory Compliance and Risk Management
- Oversee compliance with FDA, ISO, and global medical device regulations.
- Implement risk assessment frameworks to mitigate potential market and product risks.
- Work closely with legal and quality assurance teams to ensure adherence to industry standards.
What The Client is Looking For in You
To excel as the Director of Product Strategy (Medical Device) in Chicago, IL, you need a combination of strategic vision, deep industry expertise, and leadership capabilities to drive product innovation and market success. The ideal candidate will bring:
- Extensive Experience in the Medical Device Industry – A strong background in product strategy, lifecycle management, and market positioning within the medical device sector.
- Proven Success in Product Innovation – A track record of developing and launching successful medical devices that meet market demands and regulatory requirements.
- Data-Driven and Strategic Thinking – The ability to analyze market trends, competitive insights, and customer needs to drive effective product strategies.
- Leadership and Cross-Functional Collaboration – Experience leading cross-functional teams, working closely with R&D, sales, marketing, and regulatory affairs.
- Strong Business Acumen – Understanding of P&L management, pricing strategies, and revenue optimization to ensure business success.
- Regulatory and Compliance Expertise – Familiarity with FDA, ISO, and global medical device regulations to ensure successful product approvals and launches.
- Customer-Centric Mindset – The ability to engage with healthcare professionals, industry leaders, and customers to shape product strategies based on real-world needs.
- Innovative and Forward-Thinking Approach – A passion for emerging technologies, digital health, and breakthrough innovations in medical devices.
Why This Opportunity Stands Out
The Director of Product Strategy (Medical Device) in Chicago, IL role is an exceptional career opportunity for a strategic leader looking to shape the future of medical device innovation. Here’s why this role is a unique and rewarding opportunity:
- Lead Strategic Growth in a High-Impact Role – Be the driving force behind the company’s product strategy, innovation, and market expansion.
- Work with Cutting-Edge Medical Technologies – Play a key role in bringing life-changing medical devices to healthcare providers and patients worldwide.
- Competitive Compensation & Benefits – Receive a highly competitive salary, performance-based bonuses, and executive-level benefits.
- Executive Leadership & Influence – Report directly to top executives and influence high-level business decisions that shape the company’s success.
- Collaborative and Innovative Culture – Join a dynamic team of industry experts dedicated to advancing healthcare solutions.
- Global Market Expansion Opportunities – Contribute to international growth strategies, entering new markets and expanding the company’s global footprint.
FAQs About the Role
Q: What industries should I have experience in?
A: You should have a strong background in the medical device industry, with expertise in product strategy, lifecycle management, and commercialization. Experience in healthcare technology, digital health, or related fields is also valuable.
Q: Is relocation required for this position?
A: The role is based in Chicago, IL. Candidates must be open to relocation or already reside in the area.
Q: What is the reporting structure for this role?
A: The Director of Product Strategy (Medical Device) in Chicago, IL will report directly to the VP of Product Management and collaborate closely with R&D, marketing, and sales teams.
Q: What kind of leadership style is expected?
A: We are looking for a strategic, analytical, and results-driven leader who can foster collaboration, innovation, and strong cross-functional teamwork.
Q: What is the expected travel requirement?
A: This role may require domestic and occasional international travel for industry conferences, customer meetings, and product launch initiatives.
Q: What qualifications and skills are required?
A: Candidates should have a bachelor’s or master’s degree in business, engineering, life sciences, or a related field, along with 10+ years of experience in medical device product strategy or related roles. Strong expertise in market analysis, commercialization, and regulatory compliance is essential.
Q: How does this role contribute to the company’s overall success?
A: The Director of Product Strategy (Medical Device) in Chicago, IL plays a critical role in shaping the company’s future growth, ensuring product market fit, and driving competitive advantages in the medical device industry.
Q: What is the timeline for hiring and onboarding?
A: The company is actively seeking the right candidate and aims to complete the hiring process within the next 60–90 days. Onboarding will include strategy alignment meetings, cross-functional team introductions, and deep dives into the company’s product portfolio.
What Remuneration Can You Expect from This Job?
As the Director of Product Strategy (Medical Device) in Chicago, IL, you can expect a competitive executive compensation package that reflects your strategic leadership and expertise in the medical device industry. The base salary for this role typically ranges between $180,000 – $220,000 per year, depending on experience, industry knowledge, and past contributions to product strategy and market success.
In addition to the base salary, this position includes performance-based incentives tied to key product development milestones, market expansion, and revenue growth. Equity options or stock grants may also be available, providing an opportunity to participate in the company’s long-term success.
The benefits package includes comprehensive healthcare coverage (medical, dental, and vision), a 401(k) plan with company matching, paid time off, and professional development opportunities. Additional executive perks may include a relocation package, travel allowances, and sponsorship for industry conferences or leadership programs.
This role not only offers a highly competitive financial package but also the chance to drive groundbreaking product strategies in a rapidly evolving medical device market while working with a forward-thinking leadership team.
How to Apply for This Director of Product Strategy (Medical Device) Position in Chicago, IL
If you are an experienced product strategy leader with a strong background in medical devices, we invite you to apply for the Director of Product Strategy (Medical Device) in Chicago, IL. This role presents an exceptional opportunity to drive product innovation, market growth, and business success in the healthcare technology sector.
To apply, please submit your resume and a cover letter detailing your experience in product lifecycle management, competitive market positioning, and go-to-market strategies for medical devices.
This role offers a rewarding opportunity to lead high-impact product initiatives, develop long-term growth strategies, and contribute to a company that is shaping the future of medical technology innovation. Apply today to take the next step in your executive career as a Director of Product Strategy (Medical Device) in Chicago, IL!
For more information or to explore similar opportunities, visit our Medical Device Recruiters Page.
Tags:
Director of Product Strategy | Medical Device Product Management | Product Development Executive | Healthcare Innovation | Medical Technology Strategy
