Healthcare


Transformation of Medical Device Industry

Published: 22 Feb 2017

By Brahadeesh Chandrasekaran, Industry Analyst, Transformational Health, Frost & Sullivan

Introduction

The pressure to reduce healthcare expenditure, intensifying competition, and consolidation of hospitals and health systems has brought unprecedented changes in the way medical device companies do business. The dynamic marketplace is transforming the traditional way of doing business and requires the medical device manufacturers to rethink their existing business models and create value proposition for customers through innovative products and solutions. This transformation of medical device industry is fueled by ageing population, proliferation of chronic diseases, increasing emphasis on quality of care and treatment, stringent regulatory landscape focusing on patient safety and cost-containment, empowered and informed customers, and emerging technologies.

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