Aging populations around the world have underpinned the growth in the medical device industry in recent years. KPMG forecasts that this trend will continue with global annual sales rising from nearly $500 billion in 2020 to approximately $800 billion in 2030. This growth is occurring despite potential headwinds from strict regulatory requirements, governments trying to control health care costs and a rapidly changing competitive environment. Companies that don’t want to get stuck in the middle of the value chain or with a commoditized product, need to adopt technology, such as cloud-based enterprise resource planning (ERP) systems, that could give them an edge. Already there’s been a notable shift from building IT to consuming IT.