Here are 10 important developments that experts say will affect the future of the medical device industry.
There is a trope used by motivational speakers that the Chinese word for "crisis" is a combination of the symbols for "danger" and "opportunity."
It probably isn't translated that way. But no matter what, times of disruption actually can present great opportunities. Consider all the now-giant companies such as General Electric, Microsoft, and Apple started during recessions.
Perhaps that's where the medical device industry is right now. From smaller M&A deals to less venture capital, there has been little reason for medtech insiders to feel optimistic about the business, according to a recent report by EP Vantage, which is part of Evaluate (London). Add in questions swirling around cybersecurity, and the situation looks even worse.
And yet a host of innovations are coming of age in the device space--from 3-D printing to connected health features--that could make medical devices more individualized, more interactive, and hopefully more useful when it comes to managing and improving people's health.
Here are 10 recent trends we've spotted that spell out both danger and opportunity for the medical device industry:
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[Image by Chris Newmarker/Qmed]