Synopsis: Decision-making power continues to shift away from device companies to other stakeholders even as technology companies and digital entrants encroach on traditional medtech territory. To remain competitive in this new health care economy, device makers must embrace customer-centric, data-driven strategies. Platforms that combine individual medtech products and services into holistic care solutions providing integrated care for patients, underpin this transformation. For continued success, medtechs will need to forge innovative partnerships across the value chain. Medtechs would also have to invest in new technologies such as artificial intelligence, as well as new capabilities such as behavioral science and data analytics to connect with patients in non-traditional ways.
Partner, Life Sciences & Healthcare Lead, ASEAN, EY
Director, Life Sciences & Healthcare, EY