Healthtech and the medtech manufacturer
Lu Rahman looks at how the demand for healthtech products affects medtech manufacturers
In this line of work it’s our job to keep on top of new trends. We’re always looking ahead to see what’s going to be big this time next year. Healthtech isn’t an emerging trend for many but it’s a trend that's well and truly embedding itself in the medtech sector.
We’ve been reading about digital healthtech for years now. We know that connected devices exist, we’ve heard all about health apps and whether or not they’re actually medical devices, and we’re well aware that increasing numbers of hospitals on a global scale are looking at ways of improving care using digital products.
The NHS Long-Term plan places a strong focus on digital advancement. Am I surprised? Not at all. I’ve been flying the flag for digital health for years. But this technology is now becoming the norm and importantly, the public both expects and embraces these products in its daily life.
One recent event confirmed this – Google’s purchase of Fitbit for $2.1 billion. We have already seen the Apple Watch take on medical device status by the FDA and this latest news puts Google in competition with this product. Google now has access to the data via this device, of millions of people. Google is reportedly planning to launch its own wearable device – it will be interesting to see if this makes its way down the medical device route.
Connected devices are everywhere. And while products such as Fitbit are primarily fitness products, we can’t ignore the growth of this market, particularly in the medtech sector.
But where does this fit with medical device manufacture? I’m talking about medical devices with accompanying apps, manufactured using the latest in antimicrobial technology and that incorporate the best in cyber-security software. As wearable devices become more widely used, the need for high quality design skills will be required – one device won’t fit all after all – and of course, software developers will come into their own. Other sectors such as micro-manufacture and sensor technology should also see significant opportunity as the uptake of connected technology increases.
We’ve run stories on devices that track metrics. We all know about the Apple Watch and we’ve heard about the company partnering with medical device maker Dexcom to link a glucose monitoring device with the Apple Watch, which also updated to feature an operating system which includes an updated heart rate app that measures users’ heart rate when resting and recovering, during workouts, walking and breathe sessions.
We also have products very clearly aimed at the connected remote market. Take InsulCheck Connect. This is a snap-on accessory for disposable insulin pen users, that automatically collects and records pen usage and behaviour data on the go. It’s just one example of devices being designed specifically for the digital healthcare sector.
While digital health isn’t brand new, there are undeniably increased opportunities to be had and thanks to UK healthcare policy we are likely to see a fresh wave of demand emerge. Medical device manufacturers and suppliers are in the ideal position to take advantage of this to create healthtech products that fit the requirements of an increasingly connected healthcare system for future generations.