The 2024 MedTech Conference in Toronto provided some great insights on what the future of medical devices can offer, particularly when utilizing AI technology.
One area making great progress is the use of wearables. Who knew my Apple watch could be so useful?! There were multiple presentations on pairing wearable devices with mobile apps. This allows continuous monitoring of patients and offers healthcare providers more insight into patients utilizing this readily available data. This enhances the ability of healthcare providers to diagnose health issues, such as heart conditions. For example, heart rate monitoring will detect irregular rhythms, like atrial fibrillation (AFib), which then can be shared through a Health app with a healthcare provider so the patient can be treated appropriately.
Another group with great potential to benefit from the self-collecting of data is those individuals who do not have easy access to healthcare or rarely see a doctor. With the use of wearables, an individual can track their health and later share it when they go for a visit with their doctor. This can provide the healthcare professional with richer data to be reviewed instead of just immediate observations made on the day of their appointment. This is just one exciting example of many that were discussed at the MedTech conference.
Another key learning was the importance of global regulatory harmonization. With a growing push toward uniform standards across international markets, companies need to align with multiple regulatory bodies, particularly if they aim for expansion beyond United States. This was a key focus in many sessions, highlighting the need for companies to develop their regulatory strategies early so as not to slow down product launch into the market.
We are experiencing the rise of digital health technologies with great advances in wearables, AI-driven diagnostics, and remote care tools. These innovations offer opportunities for better patient outcomes, but it’s important to remember that they come with regulatory challenges. Ensuring that new devices comply with ever-evolving data privacy laws, cybersecurity requirements, and performance standards is essential. Lachman Consultants can assist clients by providing tailored regulatory and compliance strategies to integrate these technologies into their business models. Reach out to us for a free consultation today!
