The So What from BCG What’s Next in Medtech Matters to Us All
Nov 5, 2025
Vikram Aggarwal, a global leader in medical devices at BCG, sheds light on the $900 billion medtech industry. He discusses the slowing pace of innovation and how rethinking regulation and talent can accelerate breakthroughs. Vikram highlights AI in diagnostics and the rise of robotics as key trends. He also addresses the STEM talent shortage and emphasizes the need for collaborative partnerships to strengthen the innovation ecosystem. The conversation reveals insights on how to navigate the changing landscape of medtech and drive future advancements.
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AI Leading The Next Wave
- AI is already central in medtech, especially in radiology where most software medical-device approvals originate.
- Vikram says AI will expand into chronic disease management and digital diagnostics to improve access and outcomes.
Robotics Scaling Across Surgery
- Robotics have scaled across many surgical specialties and are shrinking in footprint for broader use.
- Vikram highlights robotics' ability to reduce complications, procedure time, and hospital stays.
Innovation Is Becoming Harder
- Innovation is getting harder: approvals dropped ~40–50% while approval costs tripled to about $15M.
- Vikram attributes this to tackling tougher science and engineering as low-hanging fruit is exhausted.