A comprehensive understanding of past and potential market performance is essential before developing, investing in, or managing any medtech product at market. Informed decisions will make sure your product has a place in the market and will lead to more seamless integration with existing medical technologies.
Early-stage medtech companies Quantason, CivaTech Oncology, Navigation Sciences, MagForce and ChemoTech are going after Cancer in big ways.
Identifying cancer and treating it in its earliest stages is one of the greatest challenges facing our healthcare system. Early detection and treatment of cancer is linked to the best clinical outcomes in terms of overall survival and treatment success. To that end, many pharmaceutical, diagnostic, and medical device developers are committed to addressing the global burden of cancer. Recent statistics from the International Agency for Research on Cancer estimated that there 17 million incident cases of cancer and 9.5 million deaths attributable to cancer globally in 2018. Global forecasts suggest that the burden of cancer will only grow despite current efforts to address the disease. There is still much work to be done if we are to successfully “beat cancer”. While pharmaceuticals, or chemotherapy, often come to mind when people think of how cancer is treated, the reality is that cancer treatment is a complex process that integrates multiple diagnostics and therapeutic options.
Innovative medtech startups Sentiar, Augmedics, Future World Studios and Marion Surgical are making big moves, raising capital, and catching interest from major strategics.
The last decade has seen a plethora of new technologies initially developed for other industries successfully transition into the healthcare industry. Artificial intelligence, 3D printing, wearable devices, augmented reality (AR), and virtual reality (VR) are all being explored as next-generation healthcare solutions. Despite being a relatively new market, estimates suggest that AR/VR is already a billion dollar healthcare market that is expected to rapidly grow in the next half-decade. Potential applications for AR and VR in the healthcare industry continue to expand, with companies finding success utilizing these technologies in educational and therapeutic applications.
India has one of the world’s largest populations, reaching over 1.3 billion people in 2018. A massive boom in growth has seen the population double since 1975, and it’s anticipated that India will take the title of most populous country in the world by 2024, edging out China.
Traditional medtech strategics Johnson & Johnson, Medtronic, Abbott, and now the likes of tech giants Apple, Google, and Amazon are all aggressively investing in digital health, smartphone applications, wearable devices, and pursuing other strategies.
Medical technology startups and medtech divisions of major corporations are looking to hone in and focus research and design in areas that most capitalize on the industry’s growth. After all, some analyses estimate industry sales could be close to $800 billion annually by 2030.
Select innovators Ossio, Greenbone, Embody, Biorez, Carmell Therapeutics, Nanochon, ZKR Ortho, HAPPE Spine will be in the spotlight (and no doubt catching attention from investors and major strategics) at the Emerging Medtech Summit.
Heart failure and CHF are some of the most costly chronic conditions to treat due to the severity and progression of the disease. A review published in the American Journal of Medicine estimates that the annual cost of treating heart failure among Medicaid beneficiaries ranges from $29,271 to $51,937. Despite advances in cardiovascular disease management, improvements in the mortality rates of heart failure patients has lagged behind other chronic conditions. In order to address the burden that heart failure poses, next-generation solutions are essential.
Technological advances in neurostimulation products are helping more people regain control of their lives from debilitating neurological disorders. Growth in the multibillion dollar neurostimulation market is showing no signs of slowing down as these devices become more accessible to the millions of people affected by neurological disorders. Significant fundraising and investment in the R&D of novel neurostimulation technologies lends additional evidence to the massive growth that this market is capable of in the future. A severely underserved population of patients with a myriad of difficult to treat disorders means there is an urgent need for novel solutions that provide therapeutic relief for chronic neurological conditions.
For start-ups to large corporations, the development and manufacturing of medical technologies has become a lucrative target, and one with the added benefit of improving the lives of people around the world.