Unsustainable healthcare costs and new competitors threaten the medical device industry.
While the outlook for medical device companies appears positive, unsustainable healthcare costs and new competitive forces threaten to alter the future industry landscape. If today's manufacturers fail to stake their claim in the evolving value chain, they risk being caught in the middle and becoming commoditized.
The days of simply manufacturing a device, and selling it to healthcare providers via distributors, have long vanished. Value is the new byword for success, prevention the preferred clinical outcome and intelligence the new competitive advantage. In this paper, we discuss the pathway to success in 2030 for medical device companies, following a three-pronged strategy:
The paper looks into the underlying industry dynamics and, using numerous examples and case studies, highlights the exciting possibilities open to device companies.