The past 12 months may not have been kind to many in the medical device industry, but these companies, groups, and trends fell especially short in 2013.
Although there were some companies and entities that managed to enjoy success in these turbulent times, as noted in MD+DI's picks for the winners of 2013, the medical device industry in 2013 was perhaps best described as the perfect storm, according to Richard Lincoff, MD+DI editorial advisory board member and medical devices industry practice lead at Cognizant. "Funding sources continued to diminish as investors found faster yields with less risk than the medical device sector. The demand for new business models swept the industry as traditional buyers gave way to new 'value'-based decisions built around disease outcomes, new decision makers, and global budget restraints. Global regulatory requirements continued to indicate a shift towards deeper scrutiny, broader oversight, and slowed approval."
So, some might contend that the medtech industry was, in fact, the biggest loser of 2013. Taking a closer look at the events of the past 12 months, however, MD+DI has selected seven medtech companies, groups, and trends that took a substantial hit in some fashion in 2013.
[image courtesy of Stuart Miles, DIGITALART/FREEDIGITALPHOTOS.NET]