Digital MedTech Transformation
A practical guide for MedTech companies to navigate digital transformation, outperform competition, and increase patient value
Dirk Pfitzer | Dr. Roman Hipp | Marc Ziegler | Dr. Till Giese
Jun 2018
| Strategy Paper
| English
Digital MedTech Transformation
A practical guide for MedTech companies to navigate digital transformation, outperform competition, and increase patient value
The MedTech industry has experienced impressive growth over the last decade. The vast majority of MedTech companies are valued globally, as their products meet the highest individual patient demands in terms of innovativeness, functionality, quality, and reliability. And the MedTech industry has also been able to strengthen its market position despite globalization trends in general. Even forecasts find that the value of the worldwide MedTech market will reach $520 billion by 2022 (CAGR of 5.1%). This success is not set in stone for all companies of the MedTech sector. Porsche Consulting sees healthcare at a crossroads, perceiving strongly disruptive forces driven by market, technology, and regulation. Now is the time for a major transformation to shape the future of the MedTech sector.
Management Summary
- Digitalization will impact the core value of MedTech companies. Executive focus is on digital customer and patient interactions, new data-driven profit pools, and changing competencies
- Digitalization is no longer a production-only affair. Prioritized objectives span patient value, product /service innovation, quality, and efficiency
- Digital use cases are predominantly in the proof-of-concept stage; rollouts are still limited. Companies are pursuing multiple use cases, with a common focus on transparency of performance
- Although mainly committed to digital transformation, there are challenges ahead. Companies need to overcome several “balancing” challenges to start achieving impact at scale
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Dr. Roman Hipp
Industry Lead Life Sciences
