McKinsey February 7, 2024
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...