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New Era of Healthcare Transformation Set to Disrupt Medical Device Industry
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Delivering value in the current dynamic healthcare environment will require a broad set of partnerships, relationships, and joint ventured initiatives. The breadth and scope of healthcare changes and range of different regional delivery systems all indicate that partnering models will be quite diverse. Realizing new insights, new approaches, and new sources of value within a meaningful time frame will require collaboration. The medical devices industry is experiencing an evolving reasoning for moving away from an input-based approach, that is, inputs from patients and physicians, to a value-and outcome-based approach, that is, improving the patient health outcomes. The main aim of this transformational shift is to provide the utmost benefit to a large population alongside a set of controlled resources.Despite global political uncertainties and a sluggish economic outlook, 2017 will be a significant year for the global medical devices industry that promises the partial realization of major health policies and initiatives. Future medical devices will be more targeted to meet the unique needs of emerging markets (such as China, India, and Brazil), which demonstrate high growth opportunities compared with saturated developed markets in the Western hemisphere.The pressure to reduce healthcare expenditure, intensifying competition, and consolidation of hospitals and health systems has resulted in 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 the 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.Research Scope: The medical device industry has been analyzed for the 2016-2017 period. The global medical device market segment includes medical devices in cardiovascular, orthopedics, wound care, minimally invasive, neurology, endoscopy, anesthesia and respiratory, audiology, ophthalmology, urology & gynecology, aesthetics, and others such as durable medical equipment, hospital supplies, and so on. Geographic Region: GlobalKey questions this study will answer:What are the top trends that will drive the medical devices industry in 2017? What impact will these trends have on the market?What are the new business models, developments, and companies to watch out for in the medical devices industry in 2017?What was the size of the total medical device industry in 2016, and how is it expected to grow in 2017?What are the opportunities available for medical device manufacturers in key sectors in 2017? What are the key takeaways from Frost & Sullivan’s CEO Survey?
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