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Quick 2022 Review
2022 was tough for most of the healthcare sector but MedTechDev seemed to take the brunt of the market decline and skittish healthcare investors. Many companies saw their market values drop over the year, and firms in US, Asia and Europe were all affected. While the device sector venture funding was doing well in early 2022, the 4th quarter showed a sharp decline.
Looking To 2023 And Beyond
With valuations remaining low – M&A might be the answer for some companies in the coming months. Firms looking to expand, strengthen, and broaden their pipelines and lessen the impact of market volatility might take advantage of the lower valuations of smaller firms over the next year to make licensing deals or acquisitions.
During the 2022 Results Season, many investors have been looking for hints about how MedTechDevs are planning to move forward – past the COVID headwinds [low patient numbers, supply chain issues, hospital slowdowns] and into a new era of patient care.
Analysts are clear – the nature of healthcare is evolving and MedTechDev could be key drivers in the design of a new system. Old-fashioned treatment silos are shifting toward holistic, integrated care offerings that include personalized diagnostics, treatments, and monitoring. Many think MedTechDev can leverage their digital and device expertise, plus disease area experience, to imagine and define the next generation of healthcare services.
The Healthcare Frontier
Several analysts have postulated about what Healthcare might look like in the next few years. Many of the scenarios combine traditional BioPharma & MedTechDev offerings with innovative Digital and Holistic offerings. Some of their thoughts include:
Personal/Wearable Medical Devices will be more important than ever. Monitors for Diabetes, Cardiovascular Health, Mental Health. Wearables, personalized apps/ monitors, tele-monitoring, and more keep patients safer, healthier, and with lower costs than traditional monitoring.
Integrated Care Centers such as Cancer Treatment Centers, Orthopedic and Pain Management Centers are setting the stage for other Disease treatment integrations. Perhaps centers that combine things such as CV + Diabetes Care, or Mental Health + Holistic Medicine will be more prevalent treatment paradigms.
Virtual Reality & Remote Diagnostics could replace traditional invasive procedures. VR training for procedures and even remote operations could revolutionize care by training more providers more quickly and bringing treatments to more remote patients.
AI involvement in diagnosis, treatment plans, predictive medicine will continue increasing, leading to earlier diagnosis, better treatments, and better outcomes on a personal level.
I am excited by all the possibilities the new technologies offer, and can’t wait to see how the MedTechDevs will adapt – will they drive the change, or race to keep up with it? By imagining the future and using innovative, unconventional partnerships to meet it – MedTechDev could be the instrumental force in creating a new healthcare paradigm. I’m going to set up a MedTechDev alert on PharmaTell Studio to help me keep up with the sector – don’t forget you can too in the personalized alert section!
The following articles were used for this blog – please read them when you have time – I barely touched the surface of what the companies & analysts are saying about the possibilities for MedTechDev in the next few years.
~ Robin
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