The MedTech industry is continuously growing at an accelerating rate. According to the Business Research Company “The medical devices market size in 2020 reached nearly $456.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.4% since 2015”. Considering how innovative and broad this sector is, there are plenty of ways to get involved.
Creating a successful MedTech company is by no means an easy task, it requires extensive expertise on a variety of subjects, as well as a good amount of business acumen. Naturally, MedTech as well as business are team efforts, lending itself to utilizing many talents and resources efficiently.
As platform technologies have developed, the use of technology as a means to fill critical gaps is becoming more realizable. Specifically, using a marketplace for on-demand talent can provide significant upside for MedTech companies both big and small. This can ensure service providers and consultants are a great fit for whichever area of MedTech their expertise lie.
MedLance is a platform that specializes in connecting MedTech services to entrepreneurs and companies who need them most. It is accessible and convenient for finding engineers with expertise in areas such as diagnostics, microfluidics, cardiopulmonary, and so much more. You can also find expertise ranging from product design and manufacturing to quality control and project management. Not only will you find qualified engineers to help with your projects, but also professionals that can help you navigate FDA regulations, medical writing, clinical study reports, and much more.
On the supply side, MedLance is not only great for start-ups but also for those passionate individuals that are looking to get involved in the MedTech projects to gain experience and advance their careers. Creating a strong portfolio with your specializations and experience will help employers see if you are a perfect match. Likewise, you can search for projects that are posted by Medtech companies and reach out yourself. In short, MedLance integrates the disparate elements of specialized talent with specific market demands in one fell swoop.
Unlike Medlance, Upwork does not specifically focus on MedTech services or projects. This platform creates accessibility to a variety of consulting services that range from Finance and Marketing to Engineering and Architecture to Admin and Customer Support. Clients that look for freelancers on this platform come from a diverse range of industries. Similarly to Medlance’s setup, Upwork allows entrepreneurs and start ups to post their projects and freelancers to post their portfolios making it easy for both parties to reach out and see if there is a good match. Although you can find exciting projects and promising services on Upwork, due to its diversity it can be harder to navigate and overwhelming when specifically looking for freelancers with a MedTech background or projects within a specific subfield of the MedTech industry.
Clarity does not offer start-ups tangible services or freelancers to search for projects to work on. This platform caters to quick and convenient one on one phone consulting. They offer consulting in Funding, Product and Design, Sales and Marketing, Technology and much more. Industries that can be found using their services range from healthcare technology and medical devices to E-commerce. Unlike MedLance and Upwork, freelancers are the only ones allowed to create a portfolio with their backgrounds and specializations. Potential clients can search and browse until they find an expert that matches their needs. Lastly they request a phone call that will directly connect you with them. This platform is a great way to dip your toes into consulting for both freelancers and start-ups due to how fast, simple, and low-commitment it is.
Kolabtree is another platform that helps connect start-ups and entrepreneurs to scientists and academics. Kaolabtree specializes in offering consulting services for scientific disciplines, such as data science, clinical research, food science and technology, medical writing, and much more. Clients can post their projects or look through freelancer’s profiles to pick their perfect match, similarly to UpWork and Medlance. Although this is a great way to connect to highly skilled and educated individuals in scientific fields, it may still be overwhelming to find an ideal match when looking for specific MedTech skills and talents.
According to a study conducted by Deloitte on MedTech companies, “69% of these companies said cyber readiness will be their highest priority in the next five years—signaling the need to balance digital transformation opportunities with risk preparedness. Half or more of respondents also flagged transformation of functions using digital and information technologies (56%), and economic issues (50%) as areas of focus.” The same study stated that MedTech companies “expect R&D, global markets, and policy and regulatory to be more important priorities in five years”. That being said, the MedTech industry faces a lot of challenges, creating an abundant amount of opportunities for people with different backgrounds and specialties to get involved. Freelance consulting platforms are perfect for MedTech startups and companies to connect with talented and passionate individuals on innovative projects, fueling successful outcomes.