New report for medtech industry has stark message: Tech coming for you (MedCityNews)
A new report exhorts the medtech industry to invest in customer-centric capabilities and digital collaborations to build personalized health solutions or die by being outgunned by tech companies with deep expertise and data-driven consumer solutions.
A report released this week at the annual conference of the trade association for medical device and diagnostics companies had a stark message to deliver: invest in customer-centric capabilities and digital collaborations to build personalized health solutions or die.
Die by being outgunned by large tech companies with deep expertise data-driven consumer solutions and unlimited dealmaking capability.
The report — Pulse of the Industry 2018 by Ernst & Young that was published during the MedTech Conference hosted by AdvaMed in Philadelphia that concluded Wednesday — attempts to create the urgency by breaking down an anemic growth rate that has plagued the industry for several years. Even though overall revenue was a record for the industry, revenue growth increased just 4 percent to $379 billion. This was the 10th consecutive year for single-digit re...
