Medical Device Market - Emerging Technologies and What to Expect

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CONFIDENTIAL. DAMO CONSULTING 2016 1 CONFIDENTIAL. DAMO CONSULTING 2016 Address : One Lincoln Center 18W140 Butterfield Road Oakbrook Terrace, Suite 1500 Oak Brook, Illinois, 60181 Email : [email protected] Website : www.damoconsulting.net Phone : (630) 649 8548 1 CONFIDENTIAL. DAMO CONSULTING 2016 Address : One Lincoln Center 18W140 Butterfield Road Oakbrook Terrace, Suite 1500 Oak Brook, Illinois, 60181 MEDICAL DEVICE MARKET- EMERGING TECHNOLOGIES AND WHAT TO EXPECT Paddy Padmanabhan Paddy Padmanabhan, CEO Damo Consulting Inc The Venetian, Las Vegas, Dec 10, 2016

Transcript of Medical Device Market - Emerging Technologies and What to Expect

Page 1: Medical Device Market - Emerging Technologies and What to Expect

CONFIDENTIAL.DAMOCONSULTING2016 1CONFIDENTIAL.DAMOCONSULTING2016

Address:OneLincolnCenter18W140ButterfieldRoadOakbrookTerrace,Suite1500OakBrook,Illinois,60181

Email:[email protected]:www.damoconsulting.net

Phone:(630)6498548

1CONFIDENTIAL.DAMOCONSULTING2016

Address:OneLincolnCenter18W140ButterfieldRoadOakbrookTerrace,Suite1500OakBrook,Illinois,60181

MEDICALDEVICEMARKET-EMERGINGTECHNOLOGIESANDWHATTOEXPECT

PaddyPadmanabhan

PaddyPadmanabhan,CEODamoConsultingInc

TheVenetian,LasVegas,Dec10,2016

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THEEMERGINGSTATEOFTHEMEDICALDEVICESMARKET*

TheUnitedStatesremainstheworldleaderbymarketsize,representingapproximately45%oftheglobalmedicaldevicesmarket.However,theindustryisfacingthreatsandchallengesincludingmarginpressures,growingregulationsandcompliancestandards,medicaldevicetax,lowergovernmentsubsidies

forR&D,andaslowdowninVCfunding.

MarketSize

$500Billion

BusinessModel

CoreBusiness:DigitalhealthsolutionsTargetCustomers:Physicians,GPOs/C-levelExecutives,andConsumersEngagement:Partners(optimizeassetandoperation)

SuccessFactor

Differentiationviaproductefficiencyandevidence/outcome-basedhealthbenefitstodemonstrateproductvaluetoendusers

Services

Predictive&PreventiveCareo Insight-as-a-Serviceo AI-as-a-Serviceo Robotics-as-a-Service

NextDecade

Trends

MedTechcompaniesslowlytransitioning

theirbusinessmodelstoprioritizeonapplicationsthatleveragedevicedata

ratherthanthedevicesthemselves

Slowlyshiftingfocusfromsellingdevices

tointelligentsolutionswith

remotemonitoringandreal-time

analyticscapabilities

Increasedadoptionofinterconnecteddeviceswithanaim

toimprovethefuturehealthcare

altogether

Establishedplayersareexpanding

offeringstoincludenewcloud-basedtoolstostreamlineclinicalworkflow

Newerentrantstothemarketaretakingamore

holisticview,withtheirdevelopmentstrategiescenteredonimprovingclinical

technology

“Servitization”isatrendwhereboth

cloudandIOTplayabigroleinbundling

digitalapps&serviceswiththe

devices.

ConsumerappliancecompanieslikeApple,Google,

Microsoft,Jabberetc.aretryingtoget

intoregulatedMedTech/healthcare

,thusfurtherpushingtraditionalMedTechcompaniestoadoptcloudandIOTatafasterpace

*Sources:Frost&Sullivan,PwC,Damoresearch

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EMERGINGTECHNOLOGIES:CLOUD,MOBILE,IoT,WEARABLES,SENSORS

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Theglobalmarketinthehealthcarecloud

computingisexpectedtobevaluedatUSD

4.5billionbytheendof2016*

Privatecloudislikelytoremaintheleading

contributortothecloudcomputing

marketinthehealthcareindustry

ItisprojectedtoreachUSD12.8billionby2020**

TheprivatecloudsegmentisexpectedtobevaluedatUSD2.2billionbytheendof2016*

Consumerhealthtechnologiesandthequantifiedselfmovement,connectedhealthandpopulationhealtharedrivingincreasedadoptionofnewtechnologiesinMedTech

*TransparencyMarketResearch**GlobalIndustryAnalysts,Inc.

TheHealthcareindustryremains

amongthefastesttoadoptIoT

Globalconnectedmedicaldevicemarketto

reach$1.34billionby2021atagrowthrateof

26%*

SpendingontheHealthcareIoTsolutionsisestimatedtoreach$1trillionby2025

By2018,6billionconnectedthingswillberequestingthesupportofIoT.These“things”includemobiledevices,wearables,andmedicaldevices**

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OPPORTUNITIES/CHALLENGES

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Thecloudopensupopportunitiesforcollaborationandvaluecreation:mobileappsforsalesenablement,productlifecycle

management,clinicaltrials

BigDatatechnologiesdrivinginnovationandR&D:fallingcostsofstorageandemergenceofadvanced analyticsplatforms

Wearablesandsensorsthenewfrontierintelemedicine:IntegratingIoT featuresintomedicaldevicesgreatlyimproves

thequalityandeffectivenessofservice

Opportunities Challenges

DataSecurity&Privacy:healthcarehadexperiencehighlevelsofdatabreachesin2016.Medicaldevicesconsideredhighlyvulnerable.

Compliance:IntheU.S,cloudapplicationsmustcomplywithHIPAA,FDAandothergovernmentregulations.

LackofworldwidestandardforwirelessconnectivityforIoT connectedmedicaldevices.TheFDAhasputforthsomestrongrecommendations,

includingwirelessprotocols.

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MEDICALDEVICES– WHATINDUSTRYLEADERSAREINVESTINGIN

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CoreBusiness StrategicIntent Offerings

Medicaldevicemanufacturer

o Utilizedataanalyticsandbigdatainoptimizingpatientcareandhealthcareefficiency

o Adoptingcloudservicesforcollaboration,accountspayable,invoicingandsupplychain

Developedacloud-based,data-drivendigitalhealthsolutionforhospitals,improvingpatientoutcomesandreducecoststotreatpatientswithchroniccardiovasculardiseases

Medicaltechnologyservices

o Integratingsolutionsthroughcollaborationwithtechnologyproviderstoofferdigitalsolutionstohealthcareindustry

GEHealthCloud:Builtaroundthecompany'sPredixindustrialinternetplatform,alongwithagroupofhealthcare-specificapps;HealthCloudprovidesmoreefficientaccesstopatientimages,helpingtocreatealongitudinalrecordforimagingandrelatedpatientdatabyshiftingimagepost-processingfromon-sitemachinestothecloud

Medicaltechnologydevelopment

o Providingoverall"solutions"topatients,ratherthanjustindividualproducts,willbeakeystrategyinthefuture

Sugar.IQwithWatson:CognitiveappfordiabetesbasedinIBMplatformGuardianMobile:ContinuousglucosemonitorconnectedwithsmartphoneviaBluetooth

Medicaltechnologyservices

o Providinginnovativesolutionswithsmartsuitesofsystems,devices,softwareandservices

o Collaboratingwithtechnologycompanies,academicmedicalcenters,andpatientadvocates

HealthSuitedigitalplatform:Open,cloud-basedplatforminteroperatingseamlesslywithothercloud-basedtechnologies

Supplierofmedicaltechnologyinfrastructure

o Providingoverall"solutions"topatients,ratherthanjustindividualproducts,willbeakeystrategyinthefuture

• CareXcell:Cloud-basedserviceaddressingthenewcareandpaymentrequirementsofvalue-basedandaccountablecaremodels

• Teamplay:Cloud-basednetworklinkinghospitalsandhealthcareexperts• Mindsphere platformforIoT applicationsdevelopmentbuiltonAzure

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CONFIDENTIAL.DAMOCONSULTING2016CONFIDENTIAL.DAMOCONSULTING2016

AboutDamoConsulting,Inc.Foundedin2012:Technology&ManagementConsultingfirmbasedinChicagofocusedonhealthcaresector

Growthstrategy,digitalstrategy,marketintelligence&research

FoundingPrincipalhasover18yearsinhealthcareIT,includingleadershipstintsinAccenture,Wipro,siliconvalleystartups

Thoughtleadershipanddeepmarketknowledge:Inhouseresearch,publicationsinindustryjournals,speakingengagementsatleadingindustryconferences.

ABOUTDAMOCONSULTING,INC.

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RESEARCHANDTHOUGHTLEADERSHIP

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CONFIDENTIAL.DAMOCONSULTING2016Email:[email protected]|

ThankYou

DamoConsultingisaChicago-basedmanagementconsultingfirmthatworksexclusivelyinhealthcare.Ourclientsincludehealthcareenterprisesandtechnologyfirms.Weprovideglobalsourcingadvisory,growthstrategyconsulting,marketintelligenceanddigitalmarketingsolutions.

USAOneLincolnCenter,18W140ButterfieldRoad

OakbrookTerraceSuite1500OakBrook,Illinois,60181Phone:(630)613-7200

INDIA

603/11/A,19thMainRoad,2ndFloor,Sector2,HSRLayout,

Bangalore560102(India)

Website:www.damoconsulting.net


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