The Top MedTech Trends to Watch in 2023

Looking at the MedTech landscape, these are the trends we see developing that may influence the industry in 2023:

• The economy. Of course, the economy will affect every industry, however we are interested in how it might affect the medical field. Although no one knows for sure what will happen or if a recession will occur, all medical organizations, including hospitals, will be looking at their bottom line, potentially making difficult changes.
• Remote, retail, and healthcare clinics. During the pandemic, new ways for patients to receive healthcare and diagnoses were developed. These options will likely continue increasing in popularity as people seek alternatives to making in-person appointments with their doctor. Finding alternatives to get diagnosed and treatments closer to home, especially without the long wait that comes with a visit to the doctor’s office, will continue to develop and grow.
• Remote patient monitoring. Wearable, minimally invasive medical devices and tools have been steadily increasing in popularity for years, but the pandemic has kicked things into overdrive. For patients with chronic conditions, wearable medical devices have become a crucial convenience to stay in touch with their doctors without having to visit the office.
• Telehealth and telemedicine. Remote patient monitoring is also part of a growing trend of using telehealth and telemedicine. This means allowing doctors to consult with and get data from their patients using phone lines or remotely through various means. Again, this frees up the doctor’s office waiting rooms and allows flexibility in schedules.
• Increased interest in MedTech and healthcare software companies. With the increased use of technology in the medical world, the companies designing software for their devices are gaining more power and leading innovation. This increased focus on software companies indicates increased interest in digital, Virtual Reality, and more technology-related healthcare services and devices.
• Cloud computing. Along the same lines as telehealth and telemedicine, the use of cloud computing in the MedTech industry has increased and will continue to do so. Patients can transmit important health data to secure locations in the cloud so doctors can access it when they need to from anywhere with an internet connection. This trend will only grow in 2023 and beyond.
• With sensitive data being stored in the cloud, advancements, and developments in cybersecurity for medical devices will increase. More secure ways of transmitting and accessing patient data will drive innovation in the industry.
• Medical waste management. As we continue to search for ways to keep patients and the general public safe, 2023 is shaping up to be a year for medical waste management to develop and innovate. The industry is making advances in ways to dispose of medical waste, from radioactive waste to contaminated medical instruments, more effectively, efficiently, and with minimal impact on the environment. Some are predicting that medical waste management will be a multi-billion-dollar industry before 2030.
• Medical robots. Robots and AI are here to stay and are being rapidly incorporated into the medical world. Doctors will be working side-by-side with robotic assistants to provide more precise and detailed operations and medical procedures. Some robots will be operated remotely, while others can be programmed to perform certain tasks. This is an area that is developing fast and will continue to innovate in 2023.

Of course, all these trends and developments are at the forefront of our minds at Flexan. As technology develops, Flexan is better able to provide components and sub-assemblies in more efficient and effective ways. We can execute manufacturing transfers or become an integral part of a company’s manufacturing process based on years of experience. Our processes allow us to anticipate and bypass key challenges, and we can keep an eye on a medical device’s lifecycle more effectively.

As we head into 2023, Flexan is ready to help you and your company find new and better ways to bring your medical devices and innovation to market. If you would like to learn more, reach out to us today to get the conversation started.