In 2020, the global medical device sector is an industry experiencing record growth, expansion in new and existing markets, and innovative product development through disruptive technologies. At the same time, promising new ways of aggregating and monetizing data for greater intelligence and insights propose new opportunities for our industry. Brimming with a wealth of breakthrough new product types, potential new revenue sources, and regulatory harmonization and modernization, the medical device ecosystem is perhaps one of the most vibrant and rewarding sectors in the life sciences.

Scientific and technological breakthroughs, including sophisticated data collection and analytics, have combined to create more personalized, patient-centric treatment options and revolutionary applications for medical therapies and interventions. Transformative technologies, including the following, are leading to sweeping changes in medtech:

• Big data analytics.
• Artificial intelligence (AI).
• Quantum computing.
• Cloud storage.
• Software as a medical device (SaMD).