Winning the Medtech Vs. Tech Battle: Five Ways To Keep Tech Competitors at Bay
Consumer technology companies are increasingly making their way into the traditional health-care space with innovative digital solutions that can been seen as a threat to medtech companies. Raluca Cenusa and Brian Chapman of global sales and marketing consulting firm ZS Associates explain how medtech companies can deploy their deep understanding of the clinical, payer and regulatory space, as well as trusting relationships with providers, patients and consumers, to drive growth. This is the first installment of a three-part guest commentary series from Zs focusing on "defense strategies" for traditional medtech companies to keep their tech rivals at bay.
You may also be interested in...
As medtech companies are fighting to protect their turf from innovative tech companies making their way into the traditional health-care space, there's also some important lessons to be learned from these newcomers. Raluca Cenusa and Brian Chapman of global sales and marketing consulting firm ZS Associates explain how medtech companies can use tech strategies to their advantage in building long-term relationships with customers, add value for customers, and use their accumulated wealth of patient data to build a treasure trove. This is the second installment of a three-part guest commentary series from ZS focusing on "defense strategies" to keep their tech rivals at bay.
In view of the political and regulatory threats and opportunities likely to emerge in 2019, for those in the medtech industry, it pays to be vigilant, advises ZS' Brian Chapman. And while some new tech entrants appear to represent a threat to established medtech players, their emergence in general promises significant opportunities for savings and innovation in health care. At the same time, there will likely be a short-term return to both old medtech industry values, and to major M&A.
Investment in digital health is at an all-time high having reached $1.6 billion in the first quarter of 2018, representing a total of 77 digital health deals and growing 44% over the first quarter of 2017. But what can the medtech market learn from early successes in other industries to seize its opportunity in digital health?