AI, Gen AI, GLP-1s and Deals: BCG’s Vikram Aggarwal Highlights Trends Shaping Medtech in 2024

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Vikram Aggarwal, the global leader for Boston Consulting Group’s medical devices and technology work, and a core member of the firm’s Health Care, and Marketing, Sales & Pricing practices, spoke recently with MedTech Strategist senior writer Wendy Diller on what's ahead for medtech in 2024.

2024 started off with much welcomed optimism around deal flow, innovation and investment in biopharma, but the signals coming out of the JP Morgan meeting in January, which is considered a bellwether for biopharma, were more subdued for medtech. What does the year ahead signify for the medical device sector, as it enters the early stages of artificial intelligence transition, business challenges related to new GLP-1 obesity drugs, and ongoing regulatory and strategic shifts? BCG’s Vikram Aggarwal, a managing director and the global leader of its medical device and technology practice, weighs in on scaling generative AI and its capacity to turbo charge productivity initiatives, He points to medical imaging as the area where AI is most widely adopted, and its potential in therapeutic areas that require complex data computation. GLP-1s are certainly a game changer in their potential to impact healthcare outcomes, but their impact varies in yet to be determined ways on different subsectors of the device world. Generative AI aside, other areas of noteworthy medtech innovation include robotic assisted surgery’s increasing penetration into surgical areas that require more dexterity like ophthalmology, and the brain-mind interface.

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