Shaping a resilient business strategy can help a medical device business to adapt to any new situations in future. While every company tries to optimize their operations, they tend to reach the point of strategic convergence without much differentiation. There are various aspects of business strategies and models that MedTech companies should focus on to not just adapt to new situations but also maintain the much-needed competitive advantage.
This whitepaper talks about the uniqueness of COVID-19 impact on MedTech industry and the ways it has necessitated thinking in multiple dimensions, establishing strong partnerships and developing a resilient eco-system. It offers a point of view on diversification and consolidation, differentiations for solution providers versus a product seller, innovation, role of advanced technologies, supply chain alternatives, new avenues of healthcare delivery and the enablement of business transformation through digital technology.