Medical technology trends toward six winning roles has been saved
Medical technology trends toward six winning roles
Medical technology advances lead to evolution and innovation
To create sustainable clinical and business value in a dramatically altered health care landscape, medtechs will need to evolve from their current product supplier role and define where they want to play and how they want to win in the future of health.
Act today to transform tomorrow
Numerous trends, many of them driven by digital transformation, are accelerating the pace of disruption and propelling us toward a future of health that will be significantly different from our current medtech marketplace.
Conventional medtechs traditionally have focused their business operations and investments on manufacturing and selling technologically advanced medical products such as diagnostic equipment, implantable devices, monitoring devices, or other medical supplies. However, as evolving consumer health needs and increasing data availability drive development of new solutions that go beyond the device, the implications for these companies’ future market viability could be considerable.
We envision six future roles that will enable medtech companies to deliver meaningful and differentiated value and thrive in tomorrow’s consumer-centric, digitally powered health care marketplace. As they evolve to these roles, medtechs will need to:
- Strengthen core capabilities to specialize either as a low-cost, highly efficient supplier or a premium supplier of innovative and differentiated products;
- Expand offerings to create holistic solutions by either combining products, software, and services to help providers achieve clinical and operational excellence or integrating all products and services required to treat a selected disease via partnerships or acquisitions; and
- Enter new spaces by providing transformative offerings that either facilitate data transfer, insight generation, and decision optimization across the health ecosystem or enable consumers to better and more proactively manage their health.