Data, Data Everywhere: Why the Medical Device Industry Must Embrace the Fourth Industrial Revolution
- Magazine Article
- TBMG-29115
- English
We live in a fast-changing world that is delivering rapid advances in technology and greater consumer expectations. Along with changing healthcare reimbursement models, which are moving to support improved patient outcomes, there is increasing demand for personalized products and precision medicines requiring increased complexity in medical devices. This is spawning a new era of digital and mobile medical devices and healthcare techniques, which are using the Internet of Medical Things (IoMT) to connect technology, people, and processes. These include innovations such as lab on a chip and remote monitoring of patient testing devices. One company has even introduced the concept of cloth-based diagnostic monitoring technology; using undergarments to remotely monitor cardiac performance. To respond to these modern demands and to survive in the future marketplace, medical device manufacturers need to be more agile, innovate more quickly, and adapt to remain competitive.