The future of medtech and health care is innovation, and COVID-19 is driving an important wave of development. Leading the charge across New York State is MedTech, an active association of over 100 pharmaceutical, biotech and medical technology companies, their suppliers and service providers and research universities. A wonderful collaborator and supporter of LaunchPad ventures, MedTech facilitates learning and collaboration by helping members to connect with experts, leaders, and peers to share knowledge, best practices and emerging opportunities. MedTech delivers news and education that our members need to stay informed, competitive and succeed in the fast-growing bioscience and medical technology industry. Its daily briefings are the best we’re read to stay informed about COVID-19 news, advances, and how New York State companies are rising to the challenge. Sign up for briefings here.
What are some changes can we expect to see in this field? Development cycles will be cut for innovation through strategic agreements, and acceleration of medtech start-ups, and new thinking around regulation and commercialization that streamline the process of scalability. Advances in digital health will put patients at the forefront of healthcare access with empowerment and education driving education. Crises like COVID-19 are resulting in awareness that individuals must increasingly take ownership of their own physical and mental healthcare needs. And while frontline clinicians will always be at the forefront of disasters, wearable technologies and self-monitors will increasingly connect practitioners and patients in ways that will continue to drive innovation, particularly with the rise of big data, artificial intelligence (AI) and machine learning, which can lead to better diagnosis and delivery of services. And increasingly, with concerns about privacy and security, technologies such as blockchain distributed ledgers, will also become part of digital healthcare.
These advances can both enhance patient care and alleviate pressures on healthcare systems, while improving outcomes. Expect to see even more innovation around accessible and collaborative technologies, as well as accelerated R&D to deliver new better targeted treatments.
If you’re excited about how innovation-driven innovation approaches have the potential to transform lives, and how partnerships between corporations and medtech start-ups can tackle challenges, then sign up to follow MedTech.
We’ll be co-hosting a campus-community Town Hall via Zoom later this month, so follow us both on social media (Facebook and Twitter) for details.