Insight’s Steve McPhilliamy reveals to MD&DI Magazine what it takes to stay ahead of the competition in the medtech industry

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The medtech industry has never been more dynamic, with companies facing a growing number of competitive forces. Those include emerging technologies that impact core products, new user experiences that draw customers away from current offerings, and new startup companies that will change the entire competitive landscape. All of these threats have one thing in common: they are driven by innovation.

Medtech companies can no longer rely on a single innovation method. innovation raceTo create an “unfair” competitive advantage, companies must adopt multiple, concurrent innovation approaches. While they can vary, strong innovation consistently comes from a healthy mix of technology vetting and derisking, combined with a solid corporate innovative culture, user-centered initiatives, and strategic partnerships.

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