Winning the Medtech Vs. Tech Battle: Five Lessons Learned From Tech’s Success
• By Brian Chapman and Raluca Cenusa
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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.
Tech companies are beating medtech companies at their own game. New tech players are entering the digital health space in droves, and digital-health investment is at an all-time high. Of course, medtech companies have a lot going for them as they work to protect their territory in the medical device space and to gain new ground in digital health.
In this week’s Digital Health Roundup, Medtech Insight’s Ryan Nelson highlights Click Therapeutics’ FDA-cleared digital therapeutics (DTx) for depression and Sinaptica Therapeutics’ personalized neuromodulation for Alzheimer’s patients. Marion Webb discusses her interview with MindMaze’s John Krakauer on their gaming-focused DTx to help people recover from serious brain injuries. Elizabeth Orr introduces new voting members of the new Digital Health Advisory Committee and Natasha Barrow discusses Hello Heart’s new symptom-tracking feature in their heart-focused app.
This week, Establishment Labs Holdings announced the FDA gave it premarket approval for Motiva breast implant, Cologuard lands FDA approval for Cologuard Plus and GE HealthCare gets FDA nod for a new imaging agent. The FDA announces another expansion for TAP into ophthalmology and radiology. The AAMI and CTA will join forces to develop standards for AI and ML-enabled health care products.
Tim Schmid, executive VP and worldwide chairman of J&J MedTech, expects Shockwave, acquired in April, and Abiomed, purchased in late 2022, to be “long-term gems” for the company. Cardiovascular is among higher-growth segments where J&J has concentrated investments in recent years, along with robotic surgical systems.
AdvaMed president Scott Whitaker said the group is focused on the need for tariff stability in conversations with the Trump administration. The organization remains optimistic about other policy areas. New chairman and ResMed CEO Mick Farrell laid out his five priorities.
Class III devices and panel-track supplements approved by US FDA’s Center for Devices and Radiological Health. Data derived from FDA.gov. Updated weekly.
AdvaMed president Scott Whitaker said the group is focused on the need for tariff stability in conversations with the Trump administration. The organization remains optimistic about other policy areas. New chairman and ResMed CEO Mick Farrell laid out his five priorities.