Devices is f*cked. The population is getting better informed, more in tune with this health, want to play a more active role their care and are more vocal about their needs and wants.
All this combined gives you a more medical management dependent market. Who in their right mind would willingly go under anesthesia and want to be cut open when cheaper medical alternatives exist? Keyword...cheaper. Healthcare costs are increasing every year and it is becoming increasingly unaffordable, especially in capitalist markets like the US where the payors run the show and must maintain profits at all costs.
Devices is on the downward spiral and will continue to be this way. This is why innovation has on the whole stalled in the big strategics as they are all focused on other cr-p like services, DEI, being woke and cutting R&D. This is happening everywhere, and has resulted in a bunch of startups all over the place who are trying to fill that innovation gap. The problem is 90% of those startups will fail too, or will not live up to the hype.
While all this cr-p is going on though, the pharma giants will continue to innovate because their addressable market is orders of magnitude greater and they don't have the IFU/technical expertise/manufacturing inefficiencies to deal with at the level devices does. Not to mention, payors are more than willing to cover dr-gs, but devices is a different ball game. And finally, from a clinical evidence standpoint, WAYYYY easier to recruit for Level 1 trials for dr-gs than it is for devices.
Anyway...I have been a marketer in the org and saying all this for years but no one cares lol. Everyone here exists to do their job mediocrely for 1.5 years and then look for their next move. No one, up to leadership gives a flying f*ck about the health of the organization and Geoff is the completely clueless id--t running the show, making himself rich while the company burns to the ground.