As the medtech market grows around the world, so do complementary practices that aim to improve health care access, including a move towards digitizing health care data. Patients are able to receive more information about their own care, and providers can access vital details — and use this data — in more targeted ways.
According to recently shared research from CB Insights, there are over 30 healthcare startups valued at over $1B. The majority of these “unicorns” are developing solutions for the rapidly growing digital healthcare market. Artificial intelligence (AI), cloud-based solutions, big data, and other technological innovations are all being explored and implemented in new ways to improve the healthcare industry.
Joint issues don’t discriminate by age: they can just as easily be a problem for a young athlete as they can for an older adult. And as the elderly population booms around the world, so will a greater need for diagnostic and surgical interventions focusing on these areas.
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.