3 Leading Sectors in Medical Technology

Medical technology has revolutionised the healthcare industry, making diagnosis and treatment more accurate, efficient, and less invasive. MedTech offers a wide range of applications for healthcare professionals and patients, from medical devices and software to wearable technology and in-vitro diagnostic medical devices. With the MedTech industry projected to grow even further in the coming years, it has become one of the most promising sectors for job seekers with diverse backgrounds and transferable skill sets.

This blog explores three growing sectors in MedTech and discusses the career opportunities available. Whether you are interested in research and development, product design, or clinical applications, the MedTech industry offers a wealth of opportunities to make a difference in patients' lives and contribute to the life sciences industry's growth.

Three MedTech Job Sectors Revolutionising Healthcare

1. Medical Devices

Medical devices are sophisticated tools used in the healthcare industry to diagnose, monitor, and treat a variety of medical conditions. They can range from simple devices such as blood pressure monitors to complex, cutting-edge technologies like MRI machines and robotic surgery systems. In addition to traditional medical devices, technological advancements such as wearable devices, telehealth, and personalised medicine are transforming the medical device industry, creating new opportunities for skilled professionals to innovate and contribute to this growing sector.

By equipping them with the necessary tools, medical devices enable healthcare professionals to diagnose and treat medical conditions with greater accuracy and efficiency, ultimately improving patient outcomes and experiences. For instance, medical devices such as imaging equipment allow healthcare professionals to visualise the body's internal structures, enabling them to make accurate diagnoses and develop effective treatment plans. Similarly, devices like insulin pumps and blood glucose monitors help patients manage chronic conditions like diabetes easily and accurately, reducing the need for frequent hospital visits.

As the global population ages and chronic diseases become more prevalent, the demand for medical devices is expected to rise. According to Statista, the medical device annual revenue growth is expected to increase at a CAGR of 5.59%, resulting in a market volume of $585bn by 2027. This growth is driven by technological advancements, increasing healthcare expenditures, and the need for more advanced medical technologies to diagnose, monitor, and treat medical conditions. As such, the medical device industry presents a dynamic and rewarding career path for individuals with diverse backgrounds and skill sets.

Medical device jobs and opportunities

The medical device industry has been rapidly evolving with the development of new technologies and increased demand for personalised healthcare. With this evolution, there is an increasing need for professionals who can navigate complex regulations and bring innovative products to market.

For example, there is a growing need for engineers who can improve the efficiency and effectiveness of existing devices, as well as develop new manufacturing processes to improve the quality and consistency of production. With the rise of digital health, there is also a demand for engineers who can develop software and algorithms to support medical devices and enable them to integrate with other healthcare systems. Overall, the demand for highly skilled engineers in the medical device industry is expected to continue to grow as the industry evolves and new technologies emerge. Take a look below at some average UK salaries for medical device jobs:

• Medical Device Engineer: £34,000 to £55,000 per year
• Quality Assurance Manager: £36,500 to £61,000 per year
• Clinical Research Associate: £35,500 to £58,500 per year
• Regulatory Affairs Specialist: £38,000 to £58,000 per year
• Sales Representative: £29,000 to £57,500 per year

(Salaries generated by talent.com as of March 2023. Salaries may vary depending on company size, location and experience levels)

2. Artificial Intelligence

Artificial Intelligence (AI) is rapidly transforming the MedTech industry, revolutionising how healthcare professionals diagnose, monitor, and treat medical conditions. From analysing medical images to predicting patient outcomes, AI enables products and processes to become more sophisticated and accurate, ultimately leading to improved patient outcomes and reduced healthcare costs.

In the MedTech industry, AI can be used to diagnose, monitor, and treat a variety of medical conditions with greater accuracy and efficiency. For instance, AI-powered medical imaging systems can analyse vast amounts of medical data and detect abnormalities that may be missed by human radiologists. Similarly, AI algorithms can analyse patient data in real-time and provide clinicians with insights to support clinical decision-making, improving patient outcomes and experiences.

According to a report by DataProt, the efficiency of AI will eliminate 85 million jobs, and the rise in demand will create 97 million new ones by 2025. These professionals will be needed to develop and deploy AI applications, design and maintain AI-powered medical devices, and ensure these technologies' ethical and responsible use in healthcare. This highlights the future of the MedTech industry is closely intertwined with the development and implementation of AI. As such, the job opportunities in this field are vast and diverse.

Artificial intelligence jobs and opportunities

AI in the MedTech industry is rapidly evolving with the development of new technologies and increased demand for personalised healthcare. With this evolution, professionals are needed to navigate complex regulations and bring innovative products to market.

For example, there is a growing need for data scientists who can develop and train AI algorithms to analyse medical data and support clinical decision-making. With the rise of digital health, there is also a demand for software engineers who can build AI-powered applications to support medical devices and enable them to integrate with other healthcare systems. This demand is expected to continue to grow as the industry expands and healthcare systems worldwide increasingly adopt AI-powered medical technologies to improve patient outcomes and experiences. Take a look below at some average UK salaries for AI in MedTech jobs:

• Data Scientist: £42,000 to £80,000 per year
• Software Engineer: £40,000 to £70,000 per year
• Clinical Informatics Specialist: £42,000 to £58,000 per year
• Machine Learning Engineer: £50,000 to £80,000 per year
• Research Scientist: £32,000 to £58,000 per year

(Salaries generated by talent.com as of March 2023. Salaries may vary depending on company size, location, and experience levels)

3. Digital Health Solutions

Digital health in MedTech leverages technology to enhance healthcare solutions and delivery. By integrating digital tools into patient care, providers can remotely monitor, diagnose, and treat patients, making medical services more accessible and convenient. This innovative approach has the potential to reduce costs, improve patient outcomes, and create a more patient-centred healthcare experience.

In recent years, these digital solutions have made remarkable progress with the introduction of mobile health applications, telemedicine platforms, and remote patient monitoring systems. These innovations have empowered patients to actively manage their health by enabling them to monitor their vital signs, receive personalised care, and stay connected with their healthcare providers. Additionally, these technologies have transformed healthcare organisations by improving patient outcomes, reducing costs, and streamlining operations. For example, remote patient monitoring systems can send alerts to healthcare providers about potential health issues before they become serious, enabling them to intervene early and provide prompt medical attention.

The future of digital health is also incredibly promising, with the potential for even more significant advancements in their capabilities. Grand View Research found that the projected revenue for digital health is expected to reach $809.2 billion by 2030. With the growing demand for digital health solutions, there is an increasing need for skilled professionals in this field. The future of digital health is bright, and it presents exciting opportunities for those interested in pursuing a career in this field.

Digital health jobs and opportunities

The need for professionals with expertise in digital health solutions is growing rapidly in the MedTech industry, driven by the increasing adoption of digital health technologies and the need for personalised healthcare. These professionals are responsible for developing and implementing innovative digital health solutions that can help improve patient outcomes and experiences. They work closely with healthcare providers, data scientists, and software engineers to design and implement digital health solutions supporting clinical decision-making, remote patient monitoring, and chronic disease management.

For instance, there is a growing need for healthcare data analysts who can extract insights from large data sets and develop predictive models to support clinical decision-making. With the rise of remote patient monitoring and telehealth, there is also a demand for software developers who can design and build mobile applications and web-based platforms to support these services. The need for highly skilled professionals in digital health solutions in MedTech is expected to continue to rise as healthcare systems worldwide increasingly adopt these technologies to improve patient care. Here are some average salaries for digital health solutions in MedTech jobs in the UK:

• Healthcare Data Analyst: £32,000 to £60,000 per year
• Software Developer: £35,000 to £65,000 per year
• Telehealth Specialist: £22,000 to £31,000 per year
• Healthcare IT Project Manager: £45,000 to £68,000 per year
• UX/UI Designer: £37,000 to £65,000 per yea

(Salaries generated by talent.com as of March 2023. Salaries may vary depending on company size, location, and experience levels.)

The Future of MedTech

The MedTech industry constantly pushes boundaries to improve patient outcomes, from developing innovative medical devices to implementing cutting-edge technologies. As a result, it offers numerous opportunities for candidates passionate about making a difference in the healthcare industry. MedTech companies seek skilled professionals who innovate, collaborate, and develop cutting-edge technologies to improve patient outcomes.

At Meet Recruitment, we believe that the growing demand for skilled professionals in this field is a testament to its importance, and we are committed to helping our clients find the best talent to drive their businesses forward. As breakthroughs continue to emerge, we are excited to be at the forefront of this dynamic industry and to support the development of life-changing products and therapies. If you are a candidate looking to advance your career in MedTech and begin your job search, get in touch with our team to explore exciting opportunities and join us in shaping the future of healthcare.