"Patient choice influences everything in medical technology"

What major trends have you witnessed in the medical technology industry in the last few years?

The ever increasing patient choice influences everything in medical technology and the diagnostics industry. The young and educated in particular are knowledge-hungry and specialized websites provide them with information on diagnosis and treatment. The older generation also reflects on and carefully plans its treatment options. Diagnosis and treatment at the point of care is another trend that has been emerging in the last few years, while medicine is becoming more and more personalized, with future treatment even starting at the molecular level. In many countries all over the world care is becoming more patient-centric, while we are also witnessing a shift from acute to chronic care.

Which recent technological developments will have an impact on the healthcare market of the future?

We will continue to see more and more combination products on the market. Drug-eluting stents are the most obvious example. Nanotechnology is at an early development stage but, while its impact is unquantifiable, it is bound to influence the medical technology market in the next few years. Other technology advancements with strong growth potential include IT, remote medicine and robotic surgery. Many small companies are entering these areas, but they often lack funding for research and development. Two years ago, we established a specialized magazine, MedTech Partnering, which offers medical technology, pharmaceutical and biotech companies opportunities for partnerships and now comes out three or four times a year.

Funding is not just an issue for smaller companies. How does the medical technology industry cope with the cost efficiency drives in many national healthcare systems?

There is an increasing trend towards the patient’s payment for individual treatment plans. Germany, with its focus on the most diagnosed diagnosis-related groups (DRGs), is a prime example and may serve as a model for other countries. In general, medical technology companies should not only be focusing on producing innovative technology but also on communicating the impact that their technology might have on patient’s lives as well as on financial expenditure. Those who make an effort to educate the market about the usefulness of their innovations for healthcare procedures will enjoy the greatest success.(AG)

Contact Ashley Yeo at ashley.yeo@informa.com