Healthcare is shifting from the traditional provider-centric, in-patient setting to patient-centric, virtual consultations with increased remote care monitoring. This transition has prompted the need for MedTech industry to relook at the products they develop and enhance value in care delivery.
The COVID-19 pandemic has increased the use of digital health technologies, and the need to develop innovative devices or systems that support virtual health. The last couple of years have seen increased use of wearables, mobile and app-based technologies along with data and analytics have been transforming healthcare delivery.
Advancements in healthcare technologies like Artificial Intelligence (AI), Virtual Reality and Augmented Reality 3D-printing, robotics and nanotechnology are shaping the future of healthcare. This technology boom is helping address disease and medical conditions through provision of cheaper, faster and more effective solutions for diseases.
The pandemic has forced organisations to rethink their strategic planning understanding the need to go the digital route and patients have understood the importance of teleconsultations and the advantages mobile health applications bring forth.
From increasing productivity to driving operational efficiency with automation of mundane tasks and gaining a 360-degree perspective through 3D rendering, the likes of Robotic Process Automation AI, 3D systems and the cloud are in focus for the medical devices industry.
The pandemic has created a need for loosening regulations in offering clearances to address the medical device demand-supply needs of the sector. MedTech companies and healthcare organisations have to collaborate and work in sync for implementation of digital technologies. There lies a huge opportunity to extend and expand this adoption to improve the health outcomes across regions and populations. However, this increased demand calls for a careful evaluation of the shift to digital infrastructure and proper regulations in place to ensure the industry is better prepared for managing health emergencies.
MedTech companies would do well to innovate and develop advanced diagnostics & monitoring tools with a focus on agility, affordability and effective outcomes. Asia-Pacific will become the second-largest regional market for MedTech, contributing 35 percent of the growth over the next two years, according to McKinsey & Company. Driving MedTech innovation calls for collaborations and partnerships between MedTech and healthcare organisations and the region has the potential to guide the world towards digitisation of MedTech for enhanced care delivery.
This issue features an interview with Ashley McEvoy, Executive Vice President and, Worldwide Chairman, Medical Devices, Johnson & Johnson. Ashley shared her views on how the pandemic has changed the shape of healthcare and MedTech in the Asia-Pacific region. She also talks about how collaborations and partnerships will drive MedTech innovation in the future.
Hope you find this issue insightful. Please also use this as an opportunity to share your perspectives for the upcoming special issue ‘Executives Special’. Write to me - prasanthi@ochre-media.com.
