Conferences and trade shows are back on, and yes, we’re just as excited as you are. Our first stop in 2022 was to Life Science Intelligence to meet investors and innovators in the emerging MedTech space.
After spending a few days at LSI, our team saw how emerging medical technology continues to evolve aggressively – providing future care for patients today.
More than just a good product
The best technologies are really about listening, learning, and evolving. Innovation is often created out of necessity and first-hand experience with a situation that has personally impacted someone, creating a powerful passion to find a solution, cure, process that makes a positive impact.
This held true at LSI ‘22 and was the guiding light for innovation. Without further ado, these are the top three trends we saw in the emerging MedTech space.
1) Push towards non-invasive wearable monitoring devices
There was a major push towards wearable monitoring devices allowing patients the freedom to live their lives outside of the doctor’s office by reducing the need for frequent check-ins.
At the same time, wearables provide physicians with more data, which in turn allows them to make more precise decisions about the patient’s needs and solutions that are specific to them.
Why it matters?
These two factors have a major impact on the reduction of cost/strain on the hospital system and create an environment where patients’ quality of life is improved through more accurate physician care, reducing the impact on the system as a whole.
2) Appetite for technology enabling more precise procedures
The appetite for technology enabling more precise procedures via robotics, VR and AI is high. For patients, the tech-enabled precision means decreased complications and less time in a procedure. This is a benefit to physicians as well, in addition to upsides like less stress on the procedure (vs by hand only) and more time to prep. Hospitals can expect to see improved procedural outcomes, less patient time in hospitals, and increased procedural capabilities.
Why it matters?
Robotics, VR and AI benefit the hospital, physician and patient. Surgical technology solutions continue to grow, increasing effectiveness/efficiencies in surgeries – saving patients from complications and cost for hospitals
3) Growth in D2C and self-diagnosis market
Med device efforts are beginning to grow in the direct-to-consume and self-diagnosis market, allowing individuals to find the (affordable) solutions they need.
Companies are enjoying the opportunity to build their growth directly with customers for a few reasons:
- Direct connection with the people they serve & 100% control of their value proposition
- Full optics on the metrics of cost to reach and acquire a customer
- Ability to scale a business on their own terms
Why it matters?
Is the distributor model over? Med device companies are in need of growing their customer engagement through new ways that allow for higher ROI and decreased time to close. Maybe D2C is the new answer for distribution.
The next big company is….
Is your company a MedTech startup in one of these spaces? We gleaned that investors and VCs are supporting companies who are focused and have a structured growth plan. Lucky for you, Emerged is ready to help accelerate your sales pipeline with outreach through automated prospecting.
Reach your key prospects and showcase your path to success. Schedule a call to get started.