Medical Device companies operate in a rapidly moving market. The industry is facing new complexities and challenges through new regulatory requirements, intense competition, and rapidly emerging technologies, such as the rise of bioelectronics and medical technology. New product development and introduction, baseline optimization (cost optimization) and top-line (sales) growth are the top strategic priorities for Medical Devices companies. The industry is moving towards an engineering and innovation led industry. New markets and new technologies will be driving more product variety, shorter product life cycles, and smaller volumes.
Medical devices play a pivotal role in the future of medicines.
Key challenges of the industry: