Medtech 100

A scale-up strategy is the missing link in the UK devices industry, claims business research organization CPI. Own brand and contract medical manufacturer and packaging company Pennine Healthcare, and longstanding medical device CDMO Renfrew Group International, give their take on the environment for manufacturers and the opportunities for strengthening the industry base.

Global medtechs had a big enough challenge with COVID-19 and its aftermath before the full-scale regional conflict in Ukraine added more uncertainty to the question of when market normality would return.

With many medtechs restructuring for core growth in the post-pandemic era, Abbott relied on organic growth in 2022 to move to the top of the global medtech ranking. The strength of the US dollar was not kind to companies reporting in local currencies on converting revenues to dollars.

Compliance with greenhouse gas reduction targets is not optional for medtech businesses who, besides the bigger picture, have their own sustainability to think of. Environmental demands, the evolution of care models, new delivery technologies and AI tools are influencing how medtechs must approach innovation. In the EU, the MDR is also having an effect on innovation strategies.

The latest MT100 listings are now published on Medtech Insight.

Edwards Lifesciences CEO Mike Mussallem has a unique and long-standing perspective of what the medtech industry should be and do. In over two decades, he has built the structural heart disease and critical care monitoring company into one of the global medtech industry’s most effective innovators. That legacy is sure to last after his retirement as CEO in spring 2023.  

A typical word cloud for discussions around patient-centered care would feature: business model, digital health, financing, PPP, resources, data sharing, staffing and escalation of costs. But so many other words are missing, which is why patient-centricity risks getting stuck in its current incomplete form. What are medtechs to do?  

Originally intended to increase medical device safety, the implementation of the EU’s medtech regulation was so hampered in 2022 that it had started to look as if the new regulations were a bigger potential threat to patients than any of the scandals leading to its more stringent requirements. With the European Commission’s latest plans to ease challenges around implementation, will 2023 be a more positive year for the EU medtech sector?

Medtech Insight’s annual listing of the leading medtech companies by revenues is now available on the Medtech Insight website.

The integration of smart connected care, broadening of diagnosis and therapy into new settings and improvement of chronic disease outcomes will continue to shape the market for devices and diagnostics companies for years to come. But there is also a maze of short-term macroeconomic issues for medtechs to work through.