The omnipresence of technology has motivated us to use more medical devices not only for diagnosis but also as preventive health measures. All this would have seemed impossible a few years back, but the constant growth in MedTech has now made it a reality.
Many organizations have been working towards making affordable technology that can be implemented for improving the current health sector. It is estimated that the MedTech industry as a whole would grow to 594 billion USD by the year 2024.
Europe is the second largest region after the US which has shown substantial growth in the field of MedTech. There were more than fourteen thousand patent requests in the continent which is one the strongest reason for MedTech to grow.
Numerous companies have emerged, working in different directions to name some, there is Neo-Medical which deals in the solutions that enable spine surgeons to limit stress overload on patients’ spines. All this is possible because of “Assist AI”, which helps surgeons in performing surgery and gives real-time guidance.
In the field of eye care technology, Remidio has made exceptional growth with its handheld, nonmydriatic fundus camera designed for quick and easy image capture. Scewo has developed a motorized wheelchair that is not only capable of moving on any kind of terrain but can also climb a staircase.
These companies are focused on making lives better with their innovative ideas, however, none of this would have been possible without the right financial support. Boundary Holding, founded by Rajat Khare an investment firm based in Luxembourg has supported many such organizations that are working in the field of MedTech. He believes that the growing digital world would not be limited by any sector, MedTech in the growing digital world would be full of possibilities with AI artificial intelligence, quantum computing, cloud storage, and augmented and virtual reality.
Similar beliefs can be seen by other investment firms and leaders. At Deloitte Switzerland, Michel Le Bars oversee mergers and acquisitions in the life sciences and healthcare sectors. Le Bars said that “Switzerland holds a leading position in the medical technology sector with its high density of manufacturers and industry-specific suppliers, often a diversification element for the precision manufacturers.”
The Vice President of strategy and commercial development for EMEA at Medtronic in Switzerland is Charity Kufaas. She believes for Medtronic, Europe is a strategically important and forward-thinking continent. Meeting new collaboration partners in the field of Cardiology, medical-surgical, neuroscience, and diabetes is something they look forward to. It can be including MedTech SMEs and investors.
The future is definitely more exciting for MedTech; we can see more developments not just in terms of research but new ideas being turned into reality. This could not have been possible without positive support from various financial institutions.