Amidst all the available challenges, the healthcare industry is undoubtedly offering new opportunities for market players on a daily basis. Businesses are regularly adding on their efforts for the development of new treatment and drugs for different types of diseases by using advanced technology. The MedTech or medical technology sector is booming at a significant pace and is transforming the healthcare industry. With the launch of several innovative products in the given field, players in the healthcare IT sector are taking the given opportunities and are rapidly changing the business landscape. These changes are allowing MedTech companies to re-think on their go-to-market strategies so as to remain competitive over their competitors.
Currently, it was observed that about 12.5 million people every year were left with a potentially harmful misdiagnosis. To lower the risk of such misdiagnosis, healthcare service providers started adopting medical technology, such as artificial intelligence (AI) and machine learning (ML). On the other hand, in the year 2021, with around 6 hours of time spent by Millennial on their phones on a daily basis, healthcare service providers have taken the given opportunity and have made available about 9 million mobile health applications for download globally. Further, with the rising cases of COVID-19, the demand for telehealth skyrocketed and telehealth appointment worldwide grew by about 150% in the 1st week of March 2020. With such emerging tech, the MedTech companies are spearheading innovation which is enforcing business leaders to re-think on how they perform their business.
Despite of the given opportunities, these businesses are facing different types of challenges every single day. For instance, issues with integration and cost effectiveness, security, data privacy and regulations, and issues related to delay in service offerings, all together raise the need amongst business leaders to find out ways to cope with these challenges. Hence, having a deeper understanding of the challenges would provide businesses to gain that competitive edge, lower loop holes that drain out profits, and help perform business positively in the long run.
At Research Nester, our comprehensive suite of consulting services solutions, particularly tailored for MedTech companies offers business leaders an opportunity to transform their existing businesses with the guidance of our dedicated experts. Our world-class data and analytical solutions, which are instantly accessible from any part of the globe, are designed to surely help business leaders make important decisions throughout their drug development process.
What We Do
Rising concerns for inflation, fear of recession, contracting revenues, shrinking profit margins, and growing cost pressure on logistics and supply chain has posed a profound stress test for every business organizations globally. We’re helping our clients by delivering integrated solutions based on thorough research, benchmarking, analysis, and strategic discernment to help businesses overcome these challenges and unearth hidden opportunities for sustainable growth and value creation over the coming years.
