TforG, represented by its recently appointed new business development lead, Natalie Christie, was in Düsseldorf last week attending the world’s biggest medical trade fair, MEDICA 2016, featuring 5,000 exhibitors from approximately 70 countries from around the globe.
Every year, the event provides a platform to share the latest trends and developments in the technological realm of medical care, as well as addressing the developments of present and future care models that are most relevant to top decision makers, product suppliers, and end-users.
The trending innovations in the spotlight of this year’s MEDICA event were:
Digitalization seemed to be the word on everyone’s lips with a veritable plethora of electrifying technologies and innovations on show. Wearable healthcare technologies, in particular, were in abundance with an array of health related functionalities.
The market for these innovative devices is expected to continue to grow as healthcare providers shift their focus from intervention, to prevention and push for a better patient experience, whilst reducing costs.
The automatic external defibrillators (AED) market is the strongest growing segment of the total defibrillator market and is expected to reach 420m USD by 2019. The market in Europe is not yet saturated and there has been an increase in government defibrillator awareness programs across the continent.
With defibrillators playing an important role within the chain of survival, it was not surprising to see the wide range of fully, and semi-automatic, AED devices on offer.
3. Continued shift to services:
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.
Many companies have decided to shift the focus from a product provider to a service provider.
Whatever the chosen response, companies need to design new business models and go-to-market scenarios.
For the occasion of the MEDICA event, TforG released a whitepaper (21 pages) clarifying the context and the challenges, and what the current new go-to-market approaches and innovative business models in the medtech industry look like.