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Let’s Talk Medtech
Medtech in 2023 & Beyond
Dec 27, 2023
Amanda Pedersen, Senior Editor at MD+DI, reflects on the medical device and diagnostics industry in 2023, including challenges, layoffs, and positive surprises. They also discuss the conclusion of the Theranos saga, Phillips' ongoing recalls, the divestment of grail by Illumina, and the excitement for the future of PFA in Medtech.
33:22
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Quick takeaways
- The year 2023 brought challenges and positive developments for the medical device industry, including layoffs, shutdowns, regulatory controversies, and the closure of the Theranos saga with Elizabeth Holmes going to prison.
- Two emerging areas to watch in MedTech are post-field ablation treatments for atrial fibrillation and renal denervation, which are expected to fuel innovation, provide more options for physicians, and show potential for growth and a new treatment paradigm.
Deep dives
The Medical Device Industry in 2023
2023 was the first post-COVID year for the medical device and diagnostics industry, marking a return to normalcy. The year brought both challenges and surprises, with companies facing layoffs, shutdowns, and regulatory controversies. However, there were also positive developments, such as the closure of the Theranos saga with Elizabeth Holmes going to prison. The industry faced reputation challenges due to recalls by companies like Philips, highlighting the need for stronger accountability in the industry. Despite the setbacks, there is optimism for the future of MedTech in 2024.
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