The Medtech industry is a specific blend of two ever-evolving industries: medicine and technology. New MedTech trends are emerging around the clock, and as a company operating in the industry, you must keep up with them to grow your business and stay competitive.
If you are looking for a tactical approach over the next several years as a medical company, you should invest in technology that is high in demand. We researched and found out what the future holds in the medical tech field.
Stay with us until the end to learn how to understand MedTech trends and discover the top five medical trends!
Top MedTech Trends
In the last few decades, the medical industry has witnessed development in many areas, including medical technology. Technological advancements have opened a wide field of opportunities for increasing the efficiency and precision of medical services and making day-to-day tasks of healthcare professionals easier.
There are a variety of MedTech trends you must keep up with to stay competitive as a medical company. To stay relevant, you should meet the standards set by advancements in medical technologies and use the best MedTech PR services to build your brand reputation and promote your products. Here are the MedTech industry trends:
Digital health and telemedicine
Telemedicine is a concept that utilizes electronic information and communication technologies to provide patients with health support. Its early beginnings date back to 1879 when it was recommended to use the telephone to reduce office visits. To this day, the main purpose of telemedicine and digital health is the same: help reduce hospital overcrowding.
We believe the best way to understand MedTech trends is through numbers. In 2024, it is estimated that 116.73 million people will use online doctor consultations globally. The number is expected to reach more than 130.41 million patients in four years. The top healthcare services received virtually are:
- Follow-ups after in-person visits
- Regular check-ups
- Medication management and refills
- Mental health appointments
- Lab results, tests, and treatment option review
The majority of clinicians around the world predict that the future of medical technology will include remote monitoring tools. The idea is to use MedTech innovations for health monitoring and access to health data.
Artificial intelligence and machine learning
The influence of artificial intelligence is noticeable in every industry, including healthcare. Currently, artificial intelligence is mostly used for collecting, managing, and analyzing complex medical data.
The future is even more promising. AI and machine learning are a part of various healthcare operations, such as:
- Clinical decision support
- Improvement of diagnostic accuracy
- Handling electronic health records
- Ensuring precision and assisting personalized medicine
- Medical imaging
- Assisting medical research and clinical trials
- Treatment protocol development
- Assistance in patient monitoring, etc.
Robotics and minimally invasive surgery
Robot-assisted surgery is already a reality thanks to MedTech innovations. Currently, robotic systems offer various benefits in surgery. They may include the following:
- Performing complex procedures that might be more difficult to achieve with other methods.
- Minimizing the amount of cuts and size of openings necessary.
- Reducing surgery complications and site infections.
- High precision.
- Quicker recovery and shorter hospital stays.
- Minimize the incisions in both numbers and scars.
Some of the procedures and surgeries that are currently performed with robotic assistance include cancer tissue removal, gallbladder removal, hernia repair, hip replacement, hysterectomy, kidney removal, kidney transplant, and more. This list is expected to grow as new innovations are introduced.
If your MedTech company deals in robotics, you might want to consider the following. MedTech trends predict that the robot’s future capabilities will include:
- Taking tissue biopsies
- Removing cancerous tumors
- Delivering personalized or timed reminders for medications and appointments
- Removing plaque from arteries
- Performing lab tests independently
Various types of robots serve different purposes. For instance, surgical-assistance robots are used for minimally invasive and orthopedic surgeries. Service robots can perform some logistical tasks for healthcare professionals, while modular robots are designed to support patient rehabilitation.
Genomics and personalized medicine
Medical technology trends predict advancements in genomics and personalized medicine. New genomic technologies are continuously advancing tailored care and targeted therapies.
Many experts believe that genomics and personalized medicine are game-changing trends for providing personalized care. They predict that the future of medicine will focus on an individual-centric model rather than the one-size-fits-all approach that is used today.
3D printing and bioprinting
3D printing is a rapidly growing medical field, and the increasing number of journal and patent publications can prove that. Today, 3D printing technologies can be utilized in various applications, including prosthetic implants, prosthetic materials, dental implants, tissue printing and engineering, etc.
With a high demand for biomedical 3D printing and room for improvement, continuous investment and innovation are expected in the field. One of the many innovations that is expected in the near future is implementing 3D printers in the pharmaceutical industry.
MedTech Market Trends: Quick Numbers
The Medtech market has witnessed steady revenue growth after the shortfall during the pandemic in 2020. The projections for 2024 are that MedTech’s revenue will reach $598.9 billion. More specifically, the industries with the highest revenue market share in 2024 are:
- Cardiology devices
- Diagnostics imaging devices
- Ophthalmic devices
- Orthopedic devices
- Endoscopic devices.
Furthermore, the Medical Technology market is expected to grow at a 5.31% rate until 2029. Some of the main reasons for the predicted growth are the increased funds invested in research and development, the growing trust in medical technology by patients and medical staff, and the industry’s importance in advancing healthcare services.
Conclusion
The future of medical technology will be transformative for the industry. Some MedTech trends your company should consider adopting are digital health and telemedicine, the implementation of artificial intelligence in different healthcare processes, the utilization of robotics for minimally invasive surgery, genomics and personalized medicine, 3D printing, etc.
Keeping up with the competition is not all about following the trends. You should also have a proper PR strategy that will help you promote your services and reach your target audience. Contact us, and we can assist you with brand and reputation management and handle your media relations.
