Medical device companies have historically provided value primarily by manufacturing and selling products. Mastars provides injection molds, rapid cnc services, rapid prototyping, and in the case of medical is committed to providing good products. However, as the pressure on the healthcare system increases and the healthcare delivery model undergoes fundamental changes, the industry value chain will see significant changes.

In the new normal, companies need to move away from their traditional role as manufacturers and combine services and smart data with products to provide total solutions. This will require a "battle of strengths" in the value chain - introducing business-to-consumer (B2C) models while consolidating existing business-to-business (B2B) models and creating new ones. This power play will likely include a flurry of transactional activity - mergers and acquisitions (M&A), strategic alliances, and partnerships.

Ultimately, medical device companies will seek to play a more significant role in the value chain, bringing them closer to their customers, patients and consumers. If handled correctly, this will not only add new revenue streams, but will also reduce the length of visits, lower costs and reduce the number of visits - thus reducing the cost of healthcare.

Over the next decade, the medical device industry is expected to introduce a plethora of innovations that will fundamentally change the way most medical devices are used to treat patients. As technology advances, such as 3D printing and augmented/virtual reality, and several "smart" devices are introduced, treatments will evolve significantly. Developments in areas such as artificial intelligence will improve diagnosis and treatment options, thereby reducing the cost of care. Ultimately, as less time is spent in the hospital, the focus will shift to preventative technologies - a promising area for the future. New technologies will not only create efficiencies, cost savings and better outcomes for providers and patients; they will also help medical device companies play a broader role in the treatment process through improved prevention, diagnosis, treatment and care.



Companies will leverage advances in technology to better build relationships with customers, patients and consumers and provide them with smart solutions across all major medical device categories.