EY recently published their 18th annual Pulse of the MedTech Industry report, highlighting how—despite steadily rising profits year-over-year—devicemakers large and small are still being squeezed by the cost of doing business and waning investor enthusiasm.
During AdvaMed’s MedTech Conference this month in Toronto, John Babbitt, partner on the life sciences team at EY, chatted with Fierce Medtech’s Conor Hale about the team's findings and shared what he heard from other executive attendees on the pace of M&A, venture capital funding and recent IPOs.
Babbitt also discussed how the industry is expanding over-the-counter, to stock shelves with consumer-focused products—as well as how a record number of AI approvals from the FDA may be counted on to help address the ever-growing demand for healthcare, amid provider burnout and staff shortages.
To learn more about the topics in this episode:
- Ceribell CEO Jane Chao explains why now was the time for its upsized IPO
- Stryker strikes again, acquiring brain surgery device maker Nico
- How will regulators adapt to adaptive AI?
- Medtech VC investment held steady in Q2 with $3.3B of deal value: PitchBook
- EY's Pulse of the MedTech Industry report 2024
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