The growth of medical technologies has fallen under 5% and margins have shrunk. Medtech has lost some of its attractiveness to shareholders, investors and venture capital.
The reasons partially originated from within the healthcare landscape or the medtech’s competitive environment.
When facing these challenges, medtech companies chose different responses:
- inorganic growth (i.e. the latest wave of medium and large scale mergers and acquisitions)
- new technologies aim to change workflows, diagnostics, treatments, and increase patient independency
- many companies are shifting the focus from a product provider to a service provider
Whatever the chosen response is, companies need to design new business models and go-to-market scenario’s:
- Rethink their product offering
- Reengineer their organization (sales, marketing, and service)
- Ensure effective Business Intelligence in order to make the right choices in the process