In May 2020, the Advanced Technology for Industry (ATI) project published its Sectoral Watch on the medical devices industry and related healthcare. The report explores trends in the creation of advanced technologies in the medical devices industry and the healthcare sector.
The ATI project focuses on 16 advanced technologies, including advanced materials, augmented and virtual reality, industrial biotechnology and robotics. More details and definitions of those technologies are available on the ATI website.
The report consists of:
- Establishing the industrial context
The rise of connected healthcare models, artificial intelligence and the use of data in medical devices and the healthcare sector. The European Union (EU) has a good healthcare system with quality research and workforce.
- Evaluating the technological trends in the sector
Industrial biotechnology, advanced manufacturing and artificial intelligence are the most relevant in terms of patent applications for medical devices. Medical devices manufacturers in countries such as France or Germany also offer services (72%).
- Displaying findings on private equity investment, start-ups and spinoffs activities
Most medical devices companies that Venture Capital (VC) funds invest in are active in industrial technologies. Digital technologies are also key topics for VC funds (3D, big data, robotics, etc.).
- Introducing supply and demand for skills related to advanced technologies
Employees in the sector currently possess the following skills: advanced manufacturing, industrial biotechnology, internet of things, advanced materials and artificial intelligence. Soft skills such as personalised healthcare are high in demand, reflecting a shift towards more value-based care.
- Showing the outlook
Demographic challenges are arising for the healthcare sector as well as cost pressure and a request for green medical technology. Furthermore, data, AI and cybersecurity have been identified as crucial in the sector.
The full report with more detail about the medical devices industry and related healthcare is available here. Learn more about the ATI project here.