Life science areas like Medtech, Biotech, Pharma and Health tech may sound similar. So, we’ve gathered som key things to know about them, and ways to tell them apart.

What is medtech?

Companies working in the medtech area produce things like devices, tools, software and machines. These are usually made to diagnose, treat, care or monitor people’s health. Medtech products are mostly used within hospitals (by, for example, specialists or doctors) and tend to be regulated.

What is Biotech?

As the name implies, Biotech is built on biology. Companies who work in biotech usually research and make products that are used for either medical -or agricultural purposes. In other words, products can range from crops that avoid pest to next-generation drugs of the biopharma variety. Biotech products end up in places like pharmacies or laboratories, and are very regulated.

What is Health tech?

Health tech focuses on personal health. Companies in the area develop products that make it easier to get care or monitor one’s health (like apps and wearables). With that, health-tech products are usually used outside of the hospital walls, and aren’t regulated to the same extent as other life-science areas.

What is Pharma?

Pharma companies make medicine. These are oftentimes made from artificial components and can take years and years to develop. It’s a very regulated area, and products have to walk a long road before they reach the market.

Medtech vs Pharma vs Biotech vs Healthtech

These areas do have one thing in common, namely that they all belong to the larger life-science industry. That said, they are far from the same and all areas have some things that set them apart. For example:

Medtech vs Biotech

While Biotech focuses on biological products made for either medical or agricultural use, Medtech companies make products and devices that are used by specialists and doctors to directly treat, diagnose or in other ways help patients.

Medtech vs Health tech

Health tech is also a bit different from Medtech. While Medtech companies address hospitals, private practices and other institutions, Health tech are made for personal use. Medtech products also tend to be regulated, while this is not usually the case for Health-tech products.

Medtech vs Pharma

Pharma companies make medicine of different types, while Medtech companies manufacture products and devices.

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