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Ernst & Young Bullish On Medtech's Fusion With Innovation

 
• By Marion Webb

The medtech industry grew by 5% last year, with revenues from US- and Europe-based medtechs reaching $364.4bn in 2016. Meanwhile, net income rose by 17% to reach $16bn in 2016, according to Ernst & Young's annual medtech "Pulse of the industry" report, released today to coincide with The MedTech Conference in San Jose. With global funding expanding, in particular in Asia, medtechs are well positioned for growth, but only those willing to embrace the digital revolution are poised to win.

Things are looking up for the global medtech industry, but only those companies willing to embrace innovative technologies such as artificial intelligence will come out winners, according to Ernst & Young's annual medtech report, presented today at this year's MedTech conference, hosted by AdvaMed, in San Jose, California.

Last year, the medtech industry grew by 5%, with aggregate revenue from US and European medtech companies hitting $364.4bn, a pace last seen before the financial crisis. This growth was...

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