1、Global MedTech Balancing innovation and efficiencyREPORTCore priorities MedTech executives need to addressRoland Bergers latest Global MedTech Study shows that the industrys operating income fell from an average of 19%of revenue in 2021 to a near-term low of 15.9%in 2023.Both manufacturing and non-m

2、anufacturing costs as a share of revenue rose as the COVID-19 pandemic and rising geopolitical tensions drove up energy and raw material prices,and subsequent inflation pushed up wages and financing costs.MedTechs based in North America continued to enjoy the highest operating margins and saw the la

3、rgest revenue growth between 2020 and 2023,while those based in Asia saw margin and revenue growth slowed by a challenging Chinese market.MedTechs based in Europe,particularly Germany,continued to perform below the level of US competitors.But business in all regions improved slightly in 2024,suggest

4、ing some stabilization.This study analyzes the performance of more than 120 of the worlds leading listed MedTech companies in an industry under pressure.But it also identifies those that are delivering above-average revenue growth,profitability and shareholder returns and shows the characteristics t

5、hat set these winners apart.Winners streamlined and strengthened their businesses,while underperformers faced low margins and low revenue growth.Winners limited the increase in cost of goods sold(COGS)to 48%of revenue,from 44%in 2019-2022,while underperformers saw COGS rise to 61%six points higher t

6、han in the Global MedTech Study 2023.Winners grew revenue by an average of 16%per year,compared with 1%for underperformers.Winners demonstrated business leadership through profitable revenue growth,strategic coherence through focused acquisitions,ability to execute through operational efficiency,and