ecosystem

20 years ago, I'd have called you foolish if you suggested that the world's largest taxi company would not own any taxis. I'd have called you ill-advised if you suggested that the world's largest hotelier would not own any hotels. I'd have thought you unwise if you suggested that the world's largest book store could have centered its business model around not owning physical sales points. The world is changing, fast. The next sector in line for this wholescale disruption is healthcare. Regulation, high entry barriers and the sacred place healthcare holds in society have slowed the disruption. Now, it is gathering momentum. Robotics are entering the operating room with confidence1. New digital services are facilitating procedures for the healthcare community2. Virtual, AI assisted, consultations are becoming a reality with large scale deployment in London3. Digital reviews of doctors, which might someday evolve into public national rankings, are catching on in the US with questionable consequences4. Will we soon see healthcare primarily provided outside the hospital setting? Will our smartphone become our patient record? Will we go to our local 3D printer instead of pharmacies for personalised pills? None of these are as far away as we think. This changing landscape casts major questions for legacy players in the market: how should we react to forces that are disrupting and re-shaping our industry? The medical technology industry has major choices to make in the coming years that will shape our destiny. As I think through this, I increasingly believe a profoundly new vision is needed for medtech. I will be asking myself 3 big questions as we discuss amongst industry leaders in the coming months what such a direction might be: 1. Is the strategy bold enough? 2. Does it truly put people at the centre? 3. Will it protect...