Consumer convenience is coming to healthcare. We’re now accustomed to the ease of ordering and customizing our meals, groceries, rides, sneakers and more. Now, from 3D printing to remote patient monitoring, the field of personalized medical devices is exploding. Manufacturers can now supply patients with a variety of wearables, hearing aids, orthotics, implants and orthodontics that are tailored specifically to a patient’s unique physiology and requirements. Manufacturers are also increasing their reliance on IoT technologies to enable real-time monitoring of patients using sensors attached to the new devices, such as alert bracelets, blood pressure monitors and even pacemakers. According to Precedence Research the global wearable medical device market is expected to reach $89.45 billion by 2027, with a CAGR of 25.6% from 2020 to 2027, while according to Markets and Research, the global 3D printing medical devices market is expected to grow by more than $1.5 billion from 2020 to 2024, with a CAGR of 13%.
Along with these technologies, manufacturers have developed new ways to engage with doctors and patients, including online portals that allow for the ordering and customizing of devices, tracking updates and repairs, and educating teams on new products and techniques. The goal is to increase self-service for a more powerful, personalized and friction-free experience that enables doctors to help more patients while delivering better healthcare outcomes, shortening and improving the effectiveness of the supply chain.
For many of these companies, the new devices and ways of engagement have introduced new communication and network technology requirements. Many must also ensure compliance with ever-evolving privacy regulations because they are now collecting huge amounts of personalized doctor and patient information and must verify every time that the people accessing their systems are who they say they are and can access only the information they are authorized to access. Further, because their customer bases may be national or global, these companies must rely on distributed cloud technologies to ensure access and performance – without compromising security.