Greenlight Guru Releases 2023 MedTech Industry Benchmark Report

Topics include the challenges of bringing products to market, analysis of current market opportunities and projections for the MedTech industry.

Greenlight Guru, the leading cloud-based platform purpose-built for MedTech companies, announced the release of its 2023 MedTech Industry Benchmark Report. Built on survey data gathered from over 600 medical device professionals, the study provides a comprehensive and in-depth view into new trends, outlooks, challenges, and opportunities in the MedTech market. You can download the report for free here.

As economic headwinds continue across nearly every major market, the medical device industry has not been immune to the financial slowdown. Fewer than 26% of medical device companies say they expect strong economic gains in the coming year; dealmaking and funding rounds were also down, with investors exercising more caution in the mergers and acquisitions market. Now, with fewer companies prioritizing bringing new products to market, uncovering industry trends and shifts in data-driven reports like Greenlight Guru’s are more essential than ever. 

“We set out to survey as many medical device professionals as possible. Diversifying our sample size makes our data more accurate, relevant, and helps us better tell the shared story of the industry,” says product marketing specialist Radhika Pandya.

The report demonstrates how actions to improve efficiency and enhance quality, such as employee training and updating legacy quality management systems can be a huge boon for innovation and steadiness in 2023.

“There’s a tremendous amount of value in this report for our customers as well as the industry at-large. For instance, last year’s report was all about innovation and rapid growth, whereas now it’s about tightening the reins and ensuring compliance,” says Chief Marketing Officer Jeff Perkins. “Year-over-year, that’s a very significant change, and the data really gives you a gut-check as to where your medical device company stands within the rest of the market.”

The release of the 2023 MedTech Industry Benchmark Report was part of Greenlight Guru’s 2023 State of Medical Device True Quality Summit Series, giving thousands of attendees a glimpse into the strategies, tactics, and technologies used today to streamline product development, ensure compliance, and promote quality. You can watch the sessions from the True Quality Summit here.