There’s no denying that the medical device industry has seen a tidal wave of competition in recent years. Forbes forecasted that this $518 billion industry will be a disruptor in the healthcare technology space through 2023, if not longer. 1,2 Although the market used to be dominated by large medical device companies like Abbott Labs or Johnson & Johnson, we’re now seeing medium and small-sized players from the startup community keeping pace. Even companies in the lifestyle market like — Fitbit and Apple — are seeing an opportunity to seize a large portion of the market by offering unique features and functionality on their wearable devices. Thanks to a mixture of digital transformation in the device industry and increasing use of wearables and devices in our day-to-day lives,

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