McKinsey February 7, 2024
Karsten Dalgaard, Gerti Pellumbi, Peter Pfeiffer, Tommy Reid

Our medtech predictions for the year ahead were inspired by conversations with more than 200 industry leaders and informed by McKinsey’s latest decade-ahead medtech report.

The medtech industry posted an uneven year in 2023. Among the reasons for celebration were expectation-beating revenue growth, a record number of novel-product approvals, and a spate of divestitures that helped companies refocus on their core capabilities.

On the flip side, the growing popularity of glucagon-like peptide 1 (GLP-1) drugs for weight loss led investors to move away from many obesity-related-device stocks. Profitability did not meet investor expectations in an environment where margins increasingly became a key point of focus for valuations. And companies continued to struggle to perform consistently across geographies, especially outside the...

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