New report highlights challenges and opportunities in
resilient MedTech industry
LONDON, July 2, 2024
/PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a leading global
provider of transformative intelligence, today announced the
release of the MedTech Trends to Watch 2024 report, the second
installment in a two-part series offering a predictive analysis of
emerging trends shaping the MedTech industry. Highlighting both
challenges—such as economic uncertainty, regulatory shifts and
fragile supply chains—and opportunities such as the rise of
ambulatory surgical centers and AI in MedTech, the report provides
a comprehensive outlook on industry trajectory.
2024 marks a pivotal year for the
MedTech sector following the impact of COVID-19 with significant
advancements in technologies like pulsed-field ablation and ongoing
growth in areas such as diabetes care and surgical robotics, as
detailed in this year's Medical Technologies to Watch 2024 report.
However, these innovations are directly affected by external
factors such as economic uncertainty and macroeconomic trends.
Industry leaders must adapt to these dynamics to navigate
challenges and capitalize on emerging opportunities.
Juliane Ray, Vice President,
MedTech Strategy, Life Sciences & Healthcare, Clarivate
said: "Amidst a period of unprecedented change, the MedTech
industry has demonstrated remarkable resilience and innovation.
From the advent of groundbreaking technologies like pulsed field
ablation to advancements in diabetes care and surgical robotics,
there is a vibrant cycle of innovation. However, this progress is
intertwined with significant challenges, including financial
uncertainties, regulatory shifts, and supply chain vulnerabilities.
The new MedTech Trends to Watch report explores how this resilient
industry is navigating these complexities and seizing emerging
opportunities such as AI integration and the growth of ambulatory
surgical centers, to not just to recover, but to redefine the
future of healthcare."
The MedTech Trends to Watch 2024 are:
- Shifts in sites of service - To keep pace with the
changing landscape of sites of service for surgical procedures,
medical device companies are under pressure to evolve their sales
and marketing strategies to the expanding non-hospital market.
Clarivate data show that traditional inpatient procedures are
increasingly shifting to outpatient settings.
- The impact of GLP-1 receptor agonists - The
initial uptake of GLP-1 receptor agonists for weight-loss
applications promised significant disruption across the MedTech
sector. While concerns have moderated, uncertainty remains about
their long-term impact on markets such as obesity intervention,
aesthetics and orthopedics.
- Deals in MedTech - The overall outlook for the MedTech
industry in 2024 remains positive. Macro trends, such as an aging
global population, increasing access to healthcare, and
technological advances, are setting the stage for further
innovation and investment in this space. The rise of value-based
care and digital ecosystems favors larger companies that can be
end-to-end partners to healthcare systems.
- Supply chain - Supply chain challenges in the industry
have hindered organizations' ability to promptly respond to
external pressures such as labor shortages, environmental
disasters, and geopolitical conflicts. In recent years,
particularly since the COVID-19 pandemic, major MedTech companies
have worked to improve their supply chains and continue to invest
strategically in operational efficiencies to ensure supply chain
resiliency and minimize future impacts.
- AI in MedTech - AI is transforming global medical
technology, revolutionizing practices in fields like endoscopy and
diagnostic imaging. As its applications expand, promising enhanced
precision and patient outcomes, navigating diverse regulatory
frameworks worldwide remains crucial to ensuring safety and
healthcare excellence.
- Regulatory changes in Mainland China - Volume-Based
Procurement (VBP) in Mainland China has drastically impacted market
and competitive dynamics in the country. In addition to significant
price cuts and the associated effect on revenues, the rollout of
VBP has prompted multinational and domestic firms to strategically
adjust their operations amidst its phased implementation across
product categories and regions.
Access the full MedTech Trends to Watch 2024 report from
Clarivate, here.
For more MedTech Trends to Watch and Medical Technologies to
Watch updates and analyses throughout the year, visit the MedTech
Content Hub web page and follow Clarivate for Life Sciences
& Healthcare on LinkedIn and X. Join the conversation,
using #MedtechTrendsToWatch.
To learn more about how Clarivate can help MedTech companies
evolve their commercialization strategies and answer new types of
business questions by obtaining actionable MedTech insights across
the entire R&D lifecycle, visit here.
Methodology
To identify this year's MedTech Trends to Watch, Clarivate drew
from the expertise of over 40 analysts, covering over 80 medical
device markets across more than 50 countries globally, and
integrated MedTech intelligence datasets that span the R&D and
commercialization life cycle, along with other industry sources,
including company press releases, financial filings and
peer-reviewed publications. Clarivate proprietary data and
solutions used include MedTech 360, commercial targeting (Procedure
Finder/Healthbase), tracking tools (Marketrack/PriceTrack), and
Cortellis Competitive Intelligence™ and Cortellis Deals
Intelligence™ and other real-world data analyses, including claims
data and government data analytics.
About Clarivate
Clarivate™ is a leading global provider of transformative
intelligence. We offer enriched data, insights & analytics,
workflow solutions and expert services in the areas of Academia
& Government, Intellectual Property and Life Sciences &
Healthcare. For more information, please
visit www.clarivate.com
Media Contact:
Luna
Ivkovic
External Communications, Life Sciences & Healthcare
newsroom@clarivate.com
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SOURCE Clarivate Plc