Disruptive Growth

Patients are becoming more empowered to monitor and improve their well-being through personal and wearable devices.

- Brian Wyatt

Personal and portable devices are leading significant transformation in the medical technology industry with their ability to integrate with personal diagnostics and information technology (IT) systems. We have witnessed tremendous recent growth in the integration of Internet of Things, wearables and Point of-Care(PoC) diagnostics along with IT, connectivity, access and personalised medicine. Also, the industry is learning from other sectors about the use of innovative technology platforms to streamline processes.

In both established and growing economies, such as India, medical product evolution and disruptive innovations are focused on providing basic health to people in remote rural areas, reducing infant and maternal mortality and diagnosing diseases as early as possible. These macro trends have increased demand for more affordable solutions. Accessible PoC healthcare technology, big data and better integration of services are delivering preventative care and building population health efficiencies.

Collaboration among healthcare stakeholders and a cross-pollination of ideas across industries plays a pivotal role in addressing the current challenges in the industry. Initiatives like the India 2022 Coalition – a business-led collaboration committed to creating new growth models by the 75th year of India’s independence – will help facilitate and nurture these efforts by overcoming development barriers.