Winning the Medtech Vs. Tech Battle: Five Lessons Learned From Tech’s Success
• By Brian Chapman and Raluca Cenusa
As medtech companies are fighting to protect their turf from innovative tech companies making their way into the traditional health-care space, there's also some important lessons to be learned from these newcomers. Raluca Cenusa and Brian Chapman of global sales and marketing consulting firm ZS Associates explain how medtech companies can use tech strategies to their advantage in building long-term relationships with customers, add value for customers, and use their accumulated wealth of patient data to build a treasure trove. This is the second installment of a three-part guest commentary series from ZS focusing on "defense strategies" to keep their tech rivals at bay.
Tech companies are beating medtech companies at their own game. New tech players are entering the digital health space in droves, and digital-health investment is at an all-time high. Of course, medtech companies have a lot going for them as they work to protect their territory in the medical device space and to gain new ground in digital health.
Mirvie launched Encompass, a blood test to help identify women over age 35 who are at moderate risk for preeclampsia, and will conduct additional studies to support reimbursements from payers.
Despite regional unrest, it is business as usual for medtech innovators and investors in Israel as evidenced by continued high-value M&A of locally developed technologies. Irit Yaniv, co-chair of the medtech session at the upcoming BioMed Israel 2025, explained the unique dynamics of Israeli medtech innovation.
Communication with patients has become a particularly crucial factor for investors, payers, and other healthcare decision-makers in a hostile market environment.
