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Proceeding With Caution in Current Market

Exercising caution and taking fewer risks while remaining committed to innovation is likely to be a theme for 2009. The turbulent economy isn’t causing havoc on the medical device industry, but manufacturers are being advised to be more strategic with the decisions they make this year and possibly beyond. Companies that have most of their business rooted in medically necessary procedures or technologies aren’t seeing a large negative effect, but those more involved in elective procedures are starting to see some softness, according to Maslowski.

As their concerns grow, many might become more conservative in the areas of investment and expansion. Manufacturers also arenâEUR(TM)t necessarily taking fewer risks in investing in new technologies just because the market isnâEUR(TM)t doing well. However, one hypothesis is that if the credit crunch continues, funding sources for smaller companies with newer technologies could dry up. However, while companies still need to keep an open mind about exploring different technologies, their approach needs to be smart. Ensuring that potential technologies fit with the companyâEUR(TM)s current capabilities and go-to-market strategies is important. More details on this topic will be in the January issue of MD&DI.

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