Clarivate Identifies Six Breakthrough MedTech Trends in 2024 Set to Unlock New Industry Opportunities
New report highlights challenges and opportunities in resilient
2024 marks a pivotal year for the
The MedTech Trends to Watch 2024 are:
- Shifts in sites of service - To keep pace with the changing landscape of sites of service for surgical procedures, medical device companies are under pressure to evolve their sales and marketing strategies to the expanding non-hospital market. Clarivate data show that traditional inpatient procedures are increasingly shifting to outpatient settings.
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The impact of GLP-1 receptor agonists - The initial uptake of GLP-1 receptor agonists for weight-loss applications promised significant disruption across the
MedTech sector. While concerns have moderated, uncertainty remains about their long-term impact on markets such as obesity intervention, aesthetics and orthopedics. -
Deals in
MedTech - The overall outlook for theMedTech industry in 2024 remains positive. Macro trends, such as an aging global population, increasing access to healthcare, and technological advances, are setting the stage for further innovation and investment in this space. The rise of value-based care and digital ecosystems favors larger companies that can be end-to-end partners to healthcare systems. -
Supply chain - Supply chain challenges in the industry have hindered organizations' ability to promptly respond to external pressures such as labor shortages, environmental disasters, and geopolitical conflicts. In recent years, particularly since the COVID-19 pandemic, major
MedTech companies have worked to improve their supply chains and continue to invest strategically in operational efficiencies to ensure supply chain resiliency and minimize future impacts. - AI in MedTech - AI is transforming global medical technology, revolutionizing practices in fields like endoscopy and diagnostic imaging. As its applications expand, promising enhanced precision and patient outcomes, navigating diverse regulatory frameworks worldwide remains crucial to ensuring safety and healthcare excellence.
- Regulatory changes in Mainland China - Volume-Based Procurement (VBP) in Mainland China has drastically impacted market and competitive dynamics in the country. In addition to significant price cuts and the associated effect on revenues, the rollout of VBP has prompted multinational and domestic firms to strategically adjust their operations amidst its phased implementation across product categories and regions.
Access the full MedTech Trends to Watch 2024 report from Clarivate, here.
For more MedTech Trends to Watch and Medical Technologies to Watch updates and analyses throughout the year, visit the MedTech Content Hub web page and follow Clarivate for Life Sciences & Healthcare on LinkedIn and X. Join the conversation, using #MedtechTrendsToWatch.
To learn more about how Clarivate can help
Methodology
To identify this year's MedTech Trends to Watch, Clarivate drew from the expertise of over 40 analysts, covering over 80 medical device markets across more than 50 countries globally, and integrated
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
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