How Can Medtech Help Deliver the Data and Value Healthcare Needs?

The medical technology industry broke records last year, “surpassing for the first time over $400 billion in revenue,” Jim Welch, global medtech leader for EY, told attendees at The Medtech Conference on September 24. Medtech "achieved over 7% in growth, which is fantastic and is actually a record since the economic crisis of 2008.” He cited figures on U.S. and European-based medical device companies as reported in EY’s 2019 medtech report, “Pulse of the Industry: As Data Personalizes Medtech, How Will You Serve Tomorrow’s Consumer?”
“Most notably, for those of you who may have been here last year or read last year’s report, R&D spending has also gone up, by 11%,” Welch shared during The Medtech Conference super session, "Pulse of the Industry."
As the title of EY's 2019 report suggests, there is a significant push toward personalization and data-driven solutions in medical technology.
“Providers, payers, physicians, regulators really are showing a readiness to move to a data-driven approach to care,” Welch told the audience. “This incredibly important for us as an industry in how we invest and how we deploy capital.”
The EY report predicts that “in the future, data will ...

Source: MDDI - September 24, 2019 Category: Medical Devices Authors: Daphne Allen Tags: Digital Health Source Type: news