Skip to main content
SEARCH

The future of Medical Devices

Medical Devices is currently undergoing a sea change. With a growing market that’s estimated to reach $12.1 billion by 2021- almost doubling in value since 2016- the industry is attracting the best new talent from around the Pharmaceuticals industry, who are transforming the sector. Technology is opening up new avenues of business, and changing everything from the way in which patients interact with their GPs to the Medical Devices themselves: the sector is constantly innovating, allowing professionals to offer an ever-higher standard of healthcare to the millions of people around the world who are dependent on it.

Technology is allowing us to care for people better than ever before- so what does this mean for the future of Medical Devices? 

We take a look at the biggest trends set to shape the sector in coming years.

The rise of Wearables

Wearables have been a common fixture in the consumer’s market over the past five years, with devices like the FitBit and the Apple Watch offering a variety of services, from monitoring a patient’s heart rate to being able to send text messages. And it’s set to grow: already worth over $13bn, it’s undergoing an average growth rate which is double that of the medical market.

Now many tech companies are making the most of this surge in growth, waking up to the potential of wearables in the Medical Devices market. As such, many are making the move to diversify: Apple recently announced its third patent for using an Apple Watch to track blood pressure, whilst Jawbone has decided to ditch consumer wearables entirely to focus on Medical Devices, with products that include a smart bracelet that warns you if you’re about to have a heart attack.

De-centralised medical care

The entrance of tech giants onto the Medical Devices scene is set to cause a shake-up in the industry, too: alongside changing the face of healthcare technology, it will also likely promote better health amongst the customers that these devices are benefitting. The surge in Wearable Devices, and in technology as a whole, means that people are increasingly taking charge of their own health. 

Indeed, the rise of at-home products and diagnostics is having a huge impact on the way people monitor their health. With smartphones and apps capable monitoring personal data, and even serving as a support system, like Novartis’ Heart Partner app, aimed at helping people recover from a heart attack, the future of Medical Devices is in smart technology, and in apps and small devices that let people monitor themselves or communicate instantly with their GP from the comfort of their homes. In turn, this is creating a trend towards a de-centralised system of providing Medical care that will only get stronger over the coming years.

AI

With advancements in technology come a massive range of new possibilities for Medical Devices professionals to exploit. Many companies are now harnessing the potential of AI in the lab, for instance, to monitor patients using sensors and automating treatment via a mobile app. This is being taken even further by Medtronic, which has developed a mobile personal assistant, Sugar.IQ, to assist people with diabetes. By calculating the impact on their glucose levels should they eat or exercise, monitoring their exercise, or even track their daily food intake, these smart assistants are helping sufferers improve their day-to-day routines in favour of a healthy, balanced and lower-risk lifestyle, with huge potential for the industry as a whole.

Big data

These advances in technology, smart devices and apps have created a slew of patient data which has, in turn, fuelled the creation of improved drugs, devices and apps. Thanks to the Internet of Things, scientists now have access to huge amounts of information on certain diseases, patient habits and more, which is termed ‘big data’. In turn, this increased monitoring of patients is offering scientists unparalleled insights into areas and conditions like epilepsy, which is already paying off: researchers are currently in the process of developing a medical device which uses deep learning to analyse long-term neural data, which can then be used to accurately predict seizures in patients and better inform them about how the condition might affect them. 

Naturally, this is a groundbreaking step, and with the rise of big data in the Medical Devices sector, the possibilities are limitless: from helping imaging devices learn how to recognise abnormal scans, to analyse a patient’s blood chemistry and detect if anything is out of the ordinary, big data will revolutionise the industry. 

What’s on the horizon for Medical Devices? 

The Medical Devices industry is still in flux. Many companies are investing in virtual reality and drones to expand their client offering, whilst 3-D printing is tipped to take off in coming years. Offering customers the chance to personalise their device to one that better suits their needs, it has massive potential, especially when it comes to biomaterials, prosthetics and surgical planning; on the other end of the spectrum, doctors are delving into nanotherapeutics, which aims to treat disease on a molecular level using nanobots, for instance to break up stroke-causing blood clots. 

One thing is for sure: it’s an exciting time to be involved in Medical Devices.

At IQVIA, we pride ourselves at being at the forefront of innovation in Medical Devices, connecting the brightest minds to the best jobs that will go onto impact the market.

Browse our jobs here, or find out more about the medical industry in our industry insights here.  

 

Sources

http://www.todaysmedicaldevelopments.com/article/top-5-predictions-medical-device-technology-future-12417/

https://www.mpo-mag.com/issues/2017-06-01/view_columns/the-future-of-medical-wearables

https://www.medreps.com/medical-sales-careers/an-industry-dividethe-good-and-bad-of-apple-moving-into-medical-devices/

http://artemia.com/the-future-medical-devices/

https://www.techemergence.com/ai-medical-devices-three-emerging-industry-applications/

https://healthitanalytics.com/news/deep-learning-big-data-fuel-medical-device-for-predicting-seizures

 

 

List #1

IQVIA Related insights

Group of three young coworkers working together in a sunny office.Man typing on computer keyboard. Woman pointing hand to desktop screen. Horizontal image, blurred background
What does a market access manager do and why should you become one?

Teaser

General

Content Type

Article

Published

17/07/2024

Summary

Market access is all about preparing a drug for market entry, and as such it’s a vitally important part of the drug development process and wider pharmaceutical industry. While for pharmaceutical an

Teaser

Market access is all about preparing a drug for market entry, and as such it’s a vitally important part of the drug development process and wider pharmaceutical industry.

Read more
tablet PC and medical equipments, medical technology concept
How to turn a medical science liaison job into a career

Teaser

Medical Affairs & Services

Content Type

Article

Published

04/07/2024

Summary

Becoming a Medical Science Liaison is a popular career choice for many Doctoral-level candidates seeking a meaningful role within the pharmaceutical industry where they can communicate scientifically

Teaser

We look at the possible medical science liaison career paths that could be available to you.

Read more
Tracey Smith

by

Tracey Smith

Tracey Smith

by

Tracey Smith

A person in a medical jacket holding a box of pills typing on a laptop
Clinical Pharmacist Interview Tips: Securing Your Next Opportunity

Teaser

Patient Centric Services (PCS)

Content Type

Article

Published

04/07/2024

Summary

The clinical pharmacy industry is booming. Since the pandemic, the general public has become more aware of how pharmacists play a vital role in healthcare. Naturally, the market for these roles is al

Teaser

IQVIA has compiled some top Clinical Pharmacist Interview Tips.

Read more
Ruth Lynn

by

Ruth Lynn

Ruth Lynn

by

Ruth Lynn

Amir, clinical pharmacist at IQVIA
Clinical Pharmacist duties - a day in the life

Teaser

Patient Centric Services (PCS)

Content Type

Article

Published

01/07/2024

Summary

If you’ve been doing your research into your next clinical pharmacy-based career, you might find yourself thinking “What are the daily activities of a Clinical Pharmacist?”.  To answer that question

Teaser

We caught up with Amir Khosravi-Nik, Senior Clinical Pharmacist at IQVIA.

Read more
Catherine Scott

by

Catherine Scott

Catherine Scott

by

Catherine Scott

Kareem, clinical pharmacist at IQVIA interface
IQVIA Interface - Kareem’s Clinical Pharmacist career story

Teaser

Clinical Operations

Content Type

Article

Published

28/06/2024

Summary

Kareem Mohamed joined IQVIA Interface in 2023 as a Clinical Pharmacist after having previously worked as a Primary Care Network (PCN) Pharmacist.  Our Clinical Pharmacists play a huge part in any h

Teaser

Kareem Mohamed joined IQVIA Interface in 2023 as a Clinical Pharmacist.

Read more
Ruth Lynn

by

Ruth Lynn

Ruth Lynn

by

Ruth Lynn

hands holding a red heart against a blue backdrop
5 ways you can celebrate World Well-being Week this year

Teaser

General

Content Type

Article

Published

29/05/2024

Summary

World Well-being Week 2024 is just around the corner. As an organisation with a passion for building a healthier world, our mission is not just confined to healthcare and medical sales, it also exten

Teaser

World Well-being Week 2024 is near, here are 5 ways you can celebrate.

Read more
Ruth Lynn

by

Ruth Lynn

Ruth Lynn

by

Ruth Lynn

Tips on how to keep your work life and home life separate

Teaser

General

Content Type

Article

Published

30/04/2024

Summary

Whether you work remotely, with a hybrid model, or are a careerist who can’t help but mentally take your work home with you when you leave the office, it’s undeniable that the lines between work and

Teaser

Explore learnable skills, tricks, and techniques that can empower you in your lifestyle

Read more
man in white lab coat holding glasses and talking to a man and woman
Why should you work in medical sales?

Teaser

Medical Sales & Services

Content Type

Article

Published

19/03/2024

Summary

Are you wondering if medical sales is a good career? All over the world, the medical and pharmaceutical sectors are booming, and nowhere more so than in the UK. With a thriving ecosystem of research

Teaser

All over the world, the medical and pharmaceutical sectors are booming, and nowhere more so than in the UK.

Read more
Two women on an interview
Navigating Career Growth and Flexibility at IQVIA: a Q&A with Lucy

Teaser

General

Content Type

Article

Published

05/02/2024

Summary

Lucy Manning sits in our clinical trials team, but that’s not where her career started at IQVIA. It all began at the back end of 2022 when Lucy took on a fixed-term contract as a Project Support Coo

Teaser

Lucy took on a fixed-term contract as a Project Support Coordinator. . But that did not signal the end of her time working with us.

Read more
doctor and medical sales representative shake hands
The Ultimate A-Z of Becoming a Medical Sales Rep

Teaser

Sales

Content Type

Article

Published

02/02/2024

Summary

Does the idea of being a medical sales rep excite you? This crucial position lets you make connections with companies and practitioners in the medical field. It’s also a growing and dynamic industry.

Teaser

This crucial position lets you make connections with companies and practitioners in the medical field.

Read more
female phlebotomist taking a blood sample from a male
How to become a phlebotomist

Teaser

Patient Centric Services (PCS)

Content Type

Article

Published

04/01/2024

Summary

Are you ready to step into a career that's both rewarding and accessible? Becoming a phlebotomist could be your ticket into the thriving world of healthcare. It's not just about drawing blood; it's ab

Teaser

Ready to discover how you could take the leap into this exciting field?

Read more
Young sad female nurse, doctor, carer looking through window, wearing face mask gazing at sun
Marissa's inspiring journey as a nurse advisor at IQVIA

Teaser

Medical

Content Type

Article

Published

20/11/2023

Summary

In the tapestry of healthcare, where expertise meets innovation, individuals like Marissa, a Senior Nurse Advisor at IQVIA, play a pivotal role.  Marissa has not only learned from challenges but has e

Teaser

If you consider the path of a Nurse Advisor, Marissa's story is a testament to the opportunities and fulfilment that await at IQVIA.

Read more