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Digital Health Reshaping MedTech Industry as Consumers Demand “Anywhere, Everywhere” Healthcare, Accenture and AdvaMed Report Finds

WASHINGTON, D.C. – This week, The medical technology (MedTech) industry is being reshaped by digital health and consumers’ expectations to receive care how, when and where they want, according to a new report from Accenture (NYSE: ACN) and AdvaMed.

The report, titled “Digital Health and MedTech – New Signals for Transformation,” based on a global survey of more than 150 MedTech executives, reveals a shift away from traditional healthcare models, with leaders adopting digital health as a core part of their approach to improving patient outcomes. More than three-quarters (75%) of the executives said that expanding care settings will significantly reorient their company’s long-term strategy and change business models.

Scott Whitaker, AdvaMed president and CEO said, “AdvaMed members are at the forefront of innovation and improving patient health outcomes, and we are seeing some of the most exciting advancements in digital health. The report’s findings will help us plan for the future of our industry to ensure we can thrive and grow to meet the needs of the patients who rely on medical devices every day.”

“Healthcare is at a crossroads, facing unprecedented pressure and disruption — including affordability challenges, shifting patient expectations, and an increasing deluge of health data,” said Tim Durst, a managing director at Accenture who leads the global medical technology sector in the company’s Life Sciences practice. “With a unique understanding of therapeutics, patients and providers, as well as insights gained from digital devices in the hands of patients, MedTech companies are well-positioned to lead the transformation to digital health. However, companies will need the proper digital foundation to leverage the necessary insights and create a comprehensive digital health solution.”

The report notes that developing the right connected products, services and programs for patients and providers remains a hurdle, citing implementation complexity and the lack of the right partners as primary challenges. In addition, nearly nine out of 10 executives (86%) said that technology and collaboration are key to addressing these challenges.

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The report identifies five key trends driving the future growth of MedTech:

Access the full report here.

About the Research

Accenture surveyed 150 MedTech senior executives globally (Germany, Japan, Netherlands, Switzerland, UK and US). The respondents were equally distributed across 30 med-tech companies with median 2021 global revenues of nearly US$10 billion. Two-thirds of the respondents had a tenure of 11-20 years’ experience in the MedTech industry. Accenture also interviewed 30+ C-suite and other senior executives from the MedTech and pharma sectors in AdvaMed’s Digital Health Center of Excellence to confirm survey findings and gain deeper insights. In addition, the researchers analyzed 100 M&A deals and more than 600 product launches from a subset of MedTech companies that took place between January 2019 and March 2022.


About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 721,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.