Medical device development will increasingly be driven by the growing amount of health data that is being generated. Even companies not traditionally in the device industry are realizing that they too will be impacted by the data deluge:
For Craig Lipset, Head of Clinical Innovation for Pfizer, the future of pharmaceutical companies lies in data. His talk at the 2012 CONVERGE Summit for Healthcare Innovation focused on how data about a particular chemical or molecule is generated not only by the pharma company itself, but also by a host of other entities. Mr. Lipset sees pharma companies turning into data companies that will use information as adjuncts to the drugs they develop. Furthermore, genomic data will be combined with pharmacokinetics and pharmacodynamics to create targeted drugs for personalized and precision medicine.
Drug companies see the writing on the wall. Medical device development companies should take notice.