In MedTech, the when, where, and how of care is changing. Patients receive medical care and health data multiple times a day rather than once or twice a year. With telehealth and remote monitoring, doctors of all fields can better administer care outside of traditional clinical settings. And thanks to wearable technology, patients are able to view and track their medical data and adjust their treatments and behaviors as they do.
The global MedTech market is on growing rapidly and so is digital health. But this growth requires change. For years, the MedTech industry has successfully brought new products to market through innovative science and engineering that has significantly improved our lives. But today, patients’ and healthcare provider expectations are evolving and increasing, and the high growth of the market has attracted tech giants who are looking to expand their business leveraging their technology in new ways that will have significant disruptive impact on the traditional MedTech players. The trends are not going away, and MedTech needs to redefine its positions in the ecosystem and ultimately be proactive in helping the Healthcare industry evolve.