Social Media in Medical Devices - Thematic Research

Social Media in Medical Devices - Thematic Research

Summary

Digital technology is continuously becoming more accessible, driving the growth of internet and social media users at about 9.2% year-over-year. With 61% of the total population as social media users, people are turning to social media to connect with one another, form communities, and seek information. GlobalData expects that as social media becomes an integral part of people’s lives, it will also become essential in driving the growth of the medical device industry.

Social media’s ad-funded business model is unsustainable

Social media companies will increasingly diversify away from their ad-funded business model, which regulators have attacked. Companies like Facebook and Google stand accused of using ad-targeting techniques that prioritize profit over respect for user’s privacy and content quality. They are also accused of acting as gatekeepers around access to personal data to the detriment of smaller players in the online advertising sector.

Social media companies face a dilemma

In pursuing their super-app aspirations, social media companies could end up attracting even more regulatory scrutiny. They are viewed as data monopolies in whichever sector they move into, increasingly at odds with antitrust and data privacy regulations.

This report will explore the trends behind social media in the medical device industry and provide an industry analysis of the market and competitive landscape.

ScopeThis report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.The report covers the Social Media theme.Reasons to BuyGlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.Develop and design your corporate strategies through an in-house expert analysis of Social Media by understanding the primary ways in which this theme is impacting the medical devices industry. Stay up to date on the industry’s major players and where they sit in the value chain.Identify emerging industry trends to gain a competitive advantage.