MedTech Industry Report 2021: Unconventional Partnerships Create New Value, Address Evolving Market Needs, and Produce Transformational Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Innovative Business Models Unleash Growth Opportunities in the MedTech Industry" report has been added to ResearchAndMarkets.com's offering.

Medical technology (MedTech) firms are on the verge of reinventing their role in enabling care delivery due to various external factors, such as continuous margin pressures from providers on account of increasing healthcare costs, changing needs of end users, rapid technological advancements, empowered patient-consumers taking an active role in their health and demanding new-age solutions, and threat from low-cost emerging market competitors.

The increasing emphasis on value-based healthcare, which drives outcome-based reimbursement and purchase decisions for medical devices, necessitates a shift in business model and pricing strategies among the MedTech firms.

The current scenario is presenting device companies with new opportunities to transform from a feature-oriented hardware sales model to a more engaging partnership model that helps save provider and payer costs while improving patient outcomes. To build solutions that solve the needs of key stakeholders in the current landscape, quantifiable data-driven metrics that prove the efficacy and effectiveness of the device are needed.

For this, companies should shift their focus to continuum of care solutions, as the value metrics to prove the outcome might not be readily available during the point of intervention and would need continual measuring beyond the acute care setting. Integrating data and analytics to enhance the care process (improved clinical workflow and real-time clinical decision support) or extending monitoring capabilities beyond acute care setting (to recovery wards and home) prove the benefit of capturing pertinent data.

The focus on continuum of care solutions, enabled by connected devices integrated into digital platforms, provides new revenue streams for MedTech firms centered on data and performance. It enables providers and payers to design innovative care delivery and disease management or wellness models.

To sustain in the competitive market, MedTech firms need to embrace innovative risk-sharing models, value-based contracts, subscription models, and managed service partnerships. This research service covers key strategic imperatives for MedTech firms, key impacts on their growth opportunities due to business model transformation, and growth drivers and restraints for business model transformation.

Key Topics Covered:

Strategic Imperatives

• Why is It Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top Three Strategic Imperatives on Medical Technology Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

Growth Opportunity Analysis - MedTech Business Model Transformation

• MedTech Business Model Transformation Coverage Areas and Scope of Analysis
• Top External Forces Impacting MedTech OEMs
• Top Internal Forces Impacting MedTech OEMs
• Market Disruptors and Their Impact on MedTech's Status Quo
• Healthcare Industry's Transition and Its Impact on MedTech Industry
• Growth Drivers for MedTech Business Model Transformation
• Growth Restraints for MedTech Business Model Transformation

Innovative Value Creation

• Shifting Expectations and Needs of Key Stakeholders - MedTech Business Model Transformation
• Changing Role of MedTech Participants to Avoid the Commodity Trap
• Change in Provider Priorities and MedTech Company Strategies
• MedTech Transformation Model
• Revenue Forecast by Business Model - MedTech Business Model Transformation
• Revenue Forecast Analysis - MedTech Business Model Transformation
• Value Creation Engine - MedTech Business Model Transformation
• Solution Prioritization - MedTech Business Model Transformation

Gearing for Changing Market Dynamics

• Key Strategic Imperatives Driving the Change - MedTech Business Model Transformation
• Market Dynamics are Revamping the Traditional Engagement Model
• Drivers of Business Model Reinvention
• Impacts of Business Model Transformation
• Change in Value Stream - MedTech Business Model Transformation
• Innovation in MedTech Companies

Ecosystem Partnerships for Sustaining Growth

• Evolution of MedTech Companies
• Expanding to New-Age Platforms and Solutions
• New Business Models and Outcomes

Growth Opportunity Universe - MedTech Business Model Transformation

• Growth Opportunity Matrix - MedTech Business Model Transformation
• Growth Opportunity 1: Omnichannel Sales and Innovative Clinical Engagement are Replacing Traditional MedTech Sales
• Growth Opportunity 2: Connected Care Solutions have Enabled Care Delivery Beyond the High-acuity/hospital Setting
• Growth Opportunity 3: Insight-as-a Service with a Focus on Performance Data is the Linchpin in New Value-added Monetization Models
• Growth Opportunity 4: New Payment Models are Centered Around Managing the Disease Condition
• Growth Opportunity 5: Emerging Market Strategy of Innovation and Economic Operations to Revive Sluggish Growth in MedTech Industry

Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/gz4kk4