Summary
The medical device industry can be credited with numerous examples of improving healthcare delivery and enhancing the quality of life for many patients. However, the changing healthcare environment is contributing to several growth challenges for these MedTechs. Increasingly, OEMs are focused on operational excellence to help combat shrinking growth rates and margins.
In this Executive Insights, L.E.K. Managing Directors Michael Connerty addresses the four largest growth challenges for MedTechs:
- Customer focus on cost containment
- Tapping into high-potential emerging markets
- Increasing hurdles for market approval
- Slow-down of the innovation engine
In citing these challenges, L.E.K. has devised six operational performance levers that medical device companies can use to differentiate themselves by refining their execution and optimizing the management of existing resources in order to maximize output, expand sales and improve profitability.
Sample Visuals
04132020130420