Editor’s note: Part 1 of 3.
KPMG’s study, “Medical devices 2030: Making a power play to avoid the commodity trap,” predicts a 5.2% compound annual growth rate (CAGR) for medical devices throughout the next 12 years and stresses the need for manufacturers to lower the cost of health care delivery. Within the report are several predictions about how developing technologies will impact ophthalmological care. Future infographics will examine the future of cardiovascular and orthopedic care.
- Artificial intelligence
- Miniature retinal scanners
- Virtual reality devices
- Autonomous surgical robots/robotic eye surgery
- Implantable bionic lenses
- Smart contact lenses
- Contact lens/eyeglass combinations
- Eye-imaging visual systems
- Nanodiamond-based drug-delivery systems
- Advanced bionic eyes
Incumbents need to consider their positions in the 2030 medical device value chain, to avoid becoming commodity providers. Even the strongest and largest players are vulnerable to disruptive entrants, global competition, and technological leaps. With a firm focus on the value they bring to future health systems, medical device manufacturers need to consider brave, but essential power plays to reconfigure their value chain. — KPMG