The medical devices industry is being radically transformed by digital technologies as the industrial and healthcare ecosystem shifts to connected healthcare models and artificial intelligence and data enables the development of new solutions.
Manufacturers specialised in medical devices are challenged with new consumer-goods oriented actors and digital service providers entering the value chain. Firms are forced to adapt their business models and generate new value by offering complementary services such as data analytics.
The EU27 has a positive medical technology trade balance and employs more than 550,100 people in medical devices, although the US is the largest producer and largest market. EU27 strengths lie in the healthcare system, high research expenditures, quality research centres and highly qualified workforce