The 2 of the top 3 priorities of the R&D leaders are diversification of portfolio for existing and new markets and focus on using RWE for future R&D.

Competition is driving manufacturers to explore avenues for growth that propels the top-line growth. Manufacturers are adopting Value Analysis & Value Engineering methodology to either create cost or technology differentiation that enhances product value and further improves clinical outcomes. Moreover, emerging markets such as China, India, Brazil, etc. have become attractive prospects for medical device brands seeking market expansion and penetration by bringing in quality products aligned to the market needs and price sensitivity of the region.