Medical devices are now providing patients with a more reliable diagnosis and enhanced treatment processes. With digital being very much the new normal it is clear that the relationship with the end-user or patient continues to evolve.
Research and Development is important to MedTech and innovations happen quickly. Globally, R&D investment is running at approximately 8% of sales. This is pertinent as some equipment also has quite a short shelf life. Therefore, as we look into the future, MedTech is an ever-growing global industry and medical device manufacturers face a new world that’s full of challenges and opportunities.
With the emerging standards, regulations, and evolving healthcare dynamics, organizations are facing an increasingly competitive scenario where innovation plays a vital role. This challenging environment requires that MedTech companies employ highly skilled staff that can plan processes, adapt to the new standards, learn, and evolve along with the industry, and both cope with and overtake the competition.
Being able to pivot professionally and swiftly are the key attributes of any business. Iterations are happening every 18 months to two years, so turnaround is swift. Patent applications are also happening at pace. Hence, it is essential to evaluate business plans, including recruitment, with one eye on the future.
Leaders should adapt quickly in a fast-moving environment. With 7.7% of patent applications emerging from medical technology it is an extraordinarily exciting field in which to place candidates. Everything is changing and those working in this field have learned to embrace both risk and change. By collaborating with experienced recruitment partners like ALPHOM that understand what is happening right now in the industry we can help future proof while also advising on making thoughtful choices about people and technology. Understanding what is happening around will help your business remain positive while being in a state of high alert.
Our role is to help you discover enduring candidates who can adapt to any environment and the fast-paced changes that happen in the industry. Call us now and see how we might help you find the right leaders to develop your business further.