Sector Missing Valuable Opportunity to Streamline Product Efforts for Maximum Business Impact
Propel Software, creator of the first product value management (PVM) platform that transforms how businesses create, market, sell, and service products, today unveiled medical device industry findings from its State of Product Innovation 2025: AI Adoption and Collaboration Trendsresearch. The survey, commissioned by Propel Software and conducted by Talker Research, found AI adoption in the medical device market trails all other industries surveyed, with a significant 50% lag versus high tech. Three quarters (76%) of medical device respondents don’t use AI in product operations and struggle with effectiveness as a result, highlighting the challenge the industry faces between adopting new technology and needing to remain compliant with global regulatory standards.
The survey conducted across consumer goods, high tech, industrial equipment, and medical device industries found medical device companies passing up the ability to streamline product operations with the assistance of AI with just 24% reporting AI adoption. All other industry respondents had a higher percentage utilizing AI in their product processes to increase productivity and efficiency, with high tech having the greatest rate of AI adoption in their product operations at 51%. Medical device manufacturers express caution with AI adoption as a result of strict regulations protecting patient data throughout the product lifecycle – from design through customer distribution.
Medical device respondents are feeling the impact of not leveraging AI across product development efforts. When asked about their biggest challenge related to product innovation, one third (33%) cited team coordination – the highest percentage across all surveyed industries. Additionally, one quarter (25%) had no formal process for gathering customer or market feedback to inform product decisions – also the highest percentage across industries. In addition, 23% of medical device companies reported their biggest challenge in launching and promoting products was getting accurate product data and specifications.
Among the 24% of medical device companies actively using AI, investments are paying off through increased productivity (44%), greater competitive advantage (35%), reduced expenses (31%), technology consolidation (25%), resource reallocation (25%), and lower headcount (23%).
“Our customers and prospects cannot ignore business inefficiencies in today’s dynamic markets, and AI is rewriting the rules for product companies,” said Ross Meyercord, CEO of Propel Software. “Propel One, our AI solution, addresses compliance concerns like those in the medical device industry by incorporating AI into our existing validated platform, with workflows and business rules configured by our medical device customers. This allows them to ensure the AI remains compliant, delivering value by streamlining product operations and driving smarter decision making.”
The State of Product Innovation 2025: AI Adoption and Collaboration Trendssurvey responses were collected from 800 product management, design engineering, quality/regulatory, supply chain, sales, product marketing, service/support, and IT staff members in the medical devices (200), industrial equipment (200), high tech (200), and consumer goods (200) industries in the U.S.
Explore AITechPark for the latest advancements in AI, IOT, Cybersecurity, AITech News, and insightful updates from industry experts!