Spearheading the next wave of medical technology will be a drive to design streamlined, smarter, and more personalized devices that are less invasive than existing products and that allow for simplified remote care. For patients and providers alike, raising the bar in this way will change the healthcare equation, delivering savings across the board by decreasing hospitalization times, reducing readmissions, and improving recovery times.
Amid the back-and-forth political discussions and controversy surrounding the Affordable Care Act, aka Obamacare, one fact is clear: more people will have access to traditional healthcare services than ever before. This will alter the medical device landscape in several significant ways.
Industry consolidation will increase, benefiting innovative companies
Device manufacturers who are able to focus on personal diagnostics and monitoring technologies, health and medication maintenance, quality control, and high-end therapeutic devices as a means of preventing chronic disease and improving public health will benefit most from this evolution. Conversely, device manufacturers who are unable to make this transition will fall by the wayside. Consolidation is a natural byproduct of transformative change.