Antoine Baschiera, Early MetricsThe rapid advancement of innovation today is propelling fundamental changes in all industries. Among them, the health and medtech sectors are ones that will be transformed drastically in the coming years.
The medical devices and technology market will reach $500 billion in sales by 2021, according to a new analysis from Evaluate. Therefore, it is no wonder that both corporations and startups are viewing medtech as a promising industry that can not only evolve the sector, but also change our quality of life.
A few challenges exist: Medtech products usually face long cycle of development, and are more likely than other ventures to rely on corporate backing. Yet medtech startups face complexity around data sensitivity, regulation and healthcare commercialization that constrain the process of scalability. Prior to venturing into strategic agreements with medtech startups, the biggest concern for a corporation is around regulation and feasibility. However, this hasn’t stopped successful interactions between venture and corporate stakeholders.
Here are five trends that medtech companies both large and small should watch out for in 2018.
Antoine Baschiera is CEO of Early Metrics (London, Paris, Tel Aviv), a rating agency for startups and innovative SMEs. A former engineer and financial analyst at PwC and L’Oréal, Baschiera launched Early Metrics with the aim to bring more clarity to an increasingly complex startup ecosystem. Early Metrics has rated 1,500 startups and SMEs on behalf of more than 150 clients, blue-chip companies and investors.
The opinions expressed in this blog post are the author’s only and do not necessarily reflect those of MedicalDesignandOutsourcing.com or its employees.