The Medical Device Industry, like any other industry, has been forced to adapt over the last year. Severe uncertainty, shifting expectations, and newly emerging challenges have had an effect on how the industry operated, and with an ever-changing world, these challenges are likely to continue to affect businesses well into 2021 and beyond.
However, it is from these challenges that creativity, adaptation, and new ideas emerge. Digital developments that were already in motion in the life science industry have been pushed to the forefront. Digital interaction strategies, in particular, have become a near-necessity for development.
Even though some of these issues have subsided, their influence is still felt. According to some forecasters, nearly 40% of business travel may never return, and by 2020, many HCPs may prefer virtual meetings and activities, such as medical congresses. Furthermore, several teams have recorded shorter timelines, increased efficiency, and better performance as a result of virtual interaction. In the future, these teams will be more selective in their face-to-face meetings, and many will challenge the need for a commute when virtual collaboration can yield better results.