Global Medical Devices Outlook, 2022

New York, April 08, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Global Medical Devices Outlook, 2022” –
2022 will prove to be another challenging year for medtech as uncertainties pertaining to COVID-19 variants and the resultant pauses in elective surgeries continue to plague the provider space. Supply chain challenges are likely to continue throughout the year, which will impact the availability of raw materials and finished devices and raise inflation. All the major medtech manufacturers have predicted headwinds due to the healthcare workforce shortage (compounding the issue of medical device uptake), and this will be exacerbated by employee burnout, new waves and variants of the virus, rising case numbers, vaccine mandates, the Great Resignation, skyrocketing salaries for nurses, and the Great Retirement. The digitalization of medical devices will continue, and OEMs are digitalizing their devices and operations (sales, marketing). This trend is also making a mark by pushing medtech to deliver value for providers and patients with devices and digital data. This is leading to the development of new business models such as platform approaches; however, it is also exposing medtech companies to more potential scrutiny in terms of cybersecurity risks. On the contrary, the adoption of minimally invasive surgery techniques, the rising adoption of surgical robots, and the gradual shift of some procedures to outpatient settings will continue to drive the uptake of some medical device categories, including consumables. Advancements in configuration and connectivity have spurred new types of robotic surgeries, wherein surgeons use remote surgery tools to implant a stimulation device into a Parkinson’s patient’s brain despite the patient being 1,000+ miles away. Cardiology care is moving to a care continuum approach, which drove the acquisitions of solution providers by large OEMs in 2021. This will push the cardiac devices space to focus on pre- and post-therapy patient monitoring to ensure improved long-term outcomes. From a broader industry dynamics perspective, every stakeholder in the medtech space (including other healthcare sectors) predicts increased mergers and acquisitions within the industry. Moreover, a consolidation of healthcare providers is observed in some regions. Provider sector experts predict a few megamergers of health systems in the United States, including physician practice acquisitions; however (and more importantly) a drive to acquire assets and build a continuity of care model is being noticed, and this approach will be able to support all types of care delivery needs—from primary care to surgical care, delivered virtually, in retail settings , homes, urgent care centers, and ambulatory surgery centers (ASCs). Similar trends are likely to be observed for patient monitoring devices and remote patient monitoring equipment to deal with subsequent waves of COVID-19 (although the patient monitoring equipment is saturated, replacements might continue). Moreover, demand for innovative solutions for digital operating room management and efficiency will increase to meet surgical workflow needs and enable real-time communication and data sharing during surgery. As higher acuity cases gradually shift to ASCs, medtech OEMs will redesign their device portfolios to meet the specific needs of this care provider type. Women’s health is another high-growth segment due to the surge in women entrepreneurs, the emergence of women-led start-ups, and the growing number of women’s health initiatives, which will push the femtech industry to launch innovative solutions to address long-standing women’s health and hygiene issues.
Author: Suchismita Das
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