Data monetization in medtech and diagnostics: An untapped source of sustainable growth

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By incorporating data into their growth strategy, companies in the medtech and diagnostics sector can gain a powerful advantage that allows them to surpass market expectations. With data monetization strategies, forward-thinking organizations are not just improving decision-making but also tapping into multiple revenue streams. 

Despite an upside opportunity available to all companies in the sector, less than 1 percent successfully monetize their data today. Several factors contribute to this gap:

• Limited focus: Fewer than 5 percent of medtech and diagnostics companies prioritize data monetization.
• Data immaturity: Crude data, like crude oil, requires refinement to unlock its full value. 
• Lack of product appeal: Not all data products are created equal – product / market / price fit must be built in.
• Narrow view of…