Showing posts with label medical devices industry.. Show all posts
Showing posts with label medical devices industry.. Show all posts

Wednesday, June 5, 2013

Medtech Global Market 2011-2018

As the world lives a crisis season, economic and financial advice has become one of the most important analysis. Result Healthcare intends to guide healthcare companies providing these kind of advice and one of these attempts is the “What’s hot and key trends in Medtech in 2013[1]”.
The report indicates a growth in the medtech global market at 4.4% until 2018. It also predicts that the pharmaceutical sector will grow at only 2.5% and the in vitro diagnostics will be largest medtech segment, with some important sub-segment areas as robotic-assisted surgery and mobile health.

Some of the main conclusions of this report can be seen in the tables below:


So, one can say that there are reasons for medtech companies to be optimistic about the future.








Monday, May 20, 2013

Obtaining Funds in the Medical Device Industry


           As the supply of venture dollars is rapidly shrinking, the task of seeking funds is becoming even more difficult. More importantly than seeking, is the effort of being able to obtain the fund. The annual IBF MedTech Investing Conference, that took place in Minneapolis last week, provided some tips on how to fulfill this task.

         These tips to obtain fund in the medical device industry can be simplified in three C’s: cost, clinical outcomes and CMS (Centers for Medicare and Medicaid Services - reimbursement). Cost is referred to if the new technology/product can remove expenses from the system. The second C, clinical outcomes, is referred to if patients are doing better with the new technology. Investors want to see clinical evidence and proof that the new product is superior than the treatments already available on the market. And finally, the third C, CMS, is about reimbursement. Investors want to know if the Centers of Medicaid and Medicare will cover the procedure. It is common sense that there is a special highlight for cost, though.

         Despite of being challenging, companies that can demonstrate their command of the three C’s are more likely to obtain funds.


Monday, May 6, 2013

Medical Device Providers Adopting Sustainable Actions


As outsourcing seems to be a strategic measure that is getting more and more common worldwide, including when it comes to the medical device industry, suppliers are becoming an extension to the brand. So anything that the partner does, reflect on the company’s image and on the sales of end product. Hence, medical device manufacturers are asking suppliers to make their operations more sustainable.

There are several alternatives to become more socially responsible. Since adopting measures to take care of the environment such as plants, animals, air or water; to try making the office a better place to work. Unlike what one might think, that can help a company financially.  Some recycling or waste reduction projects  might decrease unnecessary expenses.

Earth Planet and the next generations appreciate these measures companies are adopting (or trying to)  today. Even if it is a marketing strategy or finance one, becoming socially responsible is aligned with society’s expectations.







Monday, April 22, 2013

Meanwhile in the Brazilian Medical Device Industry


     Since Brazil has become one of the main destinies of many sectors worldwide, either because of its market size or its rising middle class, constantly monitoring what is happening inside its borders has become a routine task for foreign investors. The medical device industry is no exception, especially with such complex/bureaucratic regulatory system.

        However, this seems to be heading to a more harmonized system. A new Brazilian Good Manufacturing Practice (BGMP), RDC 16/2013, has gone into effect in the country. It means that two different BGMP resolutions (RDC 59/2000 for medical devices and Ordinance 686/1998 for in vitro diagnostic (IVD) devices) have been replaced by the new single one. The sector now only have one requirement to meet, hence, the BGMP has become less complicated. Companies now have 180 days to update their quality system and make it meet RDC 16/2013.    
       
        Another fact that has happened to the Brazilian medical device industry, and deserves both national and  foreign attention: in the end of last month (March, 2013) the Brazilian Medical Device Industry Association (ABIMO) has claimed, in Congress, the approval of a law that ensure tax isonomy between brazilian and imported products. Today, public and philanthropic hospitals have tax immunity when purchasing imported medical device.

“We do not want differential treatment. We are competitive. We export to more than 180 countries. Abimo’s proposal is simple: ensure tax immunity for all purchase orders made by institutions linked to SUS (Brazilian public healtcare system).”

Paulo Henrique Fraccaro, Abimo’s President            

        These two initiatives seem to be an effort to boost the national industry and make it more competitive. 


References: 

Friday, September 28, 2012

Medical Device Development: step-by-step


The development of medical devices requires rigorous regulatory requirements, careful planning and strategies for commercialization, pursuit for new technology and improvements.  While we see various commercially successful medical devices in the market, no comprehensive development model has been published.

Apart from the company size and the market they share, medical devices companies have a very similar strategy to develop and get their products to market. Scientific researches about medical device project and development process are very good references to the product development strategy of the companies and help them to improve and validated their models.

Stanford University’s researchers have studied the process of how medical technology is brought to market. The model developed by Researchers at the Stanford University Program in Biodesign divides the development in six phases:

“PREDEVELOPMENT, PHASE 0”
The clinical need must me identified and understood by the inventors and devices companies, this phase can be achieved, by direct observations, talking to patients or doctors. A large list of medical needs is made based on market size, clinical impact, and intellectual property.

“PHASE I: INITIATION, OPPORTUNITY AND RISK ANALYSIS”
When the need is identified, a review of all the perspectives is made. Market size, intellectual property, competitive structure, financial resources, regulatory requirements, likewise defining strategies.

“PHASE II: FORMULATION, CONCEPT AND FEASIBILTY”
Concept definition and feasibility take place in this phase, as well as strategies definitions. To accomplish the concept definition, both brainstorming sessions and 3D CAD occur. It is frequent to see the team’s marketing and the team’s R&D meeting with potential users (doctors, nurses, technicians, patients and others) to catch the clients’ attention. In addition, in Phase II we see the team of devices companies defining and analyzing the risks that can happen during the project.

“PHASE III: DESIGN AND DEVELOPMENT, VERIFICATION AND VALIDATION”
In this phase, the team creates a test to verify and validate the concept, although the tests only occur in Phase IV. These tests involve both engineering and quality tests. Many steps of this phase are conducted and reviewed by members of clinical regulatory departments, including FDA (in the USA). Likewise, the production of documentary records.
  
“PHASE IV: FINAL VALIDATION AND PRODUCT LAUNCH PREPARATION”
Final validation, final product design and regulatory approval take place in this part of the process that brings medical devices to market. Final product design must conform to ergonomics standards.  Quality system starts working to define, document and approve the business, which contains both product and administrative perspective.

“PHASE V: PRODUCT LAUNCH AND POST-LAUNCH ASSESSMENT”
Before the launch, doctors will have received training to use the new device. Once it has been approved that the medical device is successful, both launch and distribution will take place. With the new device been used widespread, literature and indications of use are made and approved by FDA (in the USA). R&D has a main role in this phase since the device requires continuing improvements.

         Stanford University Program in Biodesign research was based in more than 80 experts in the private and public sectors, including industry representatives and FDA officials.

         Biokyra follows its own product development process that is generically very similar to Stanford Model. Each country has its own regulatory system so that the product development process should adapt to those particularities.

          To develop a medical device is not an easy task but when it is done following a systematic method or model the process will be efficient, the results will be successfully accomplished and the market will have their needs met.

References: http://medicaldesign.com/mag/model_device_development_0908/


Thursday, April 5, 2012

Minimally Invasive Surgeries


The global market for minimally invasive devices and instruments has been growing at a high rate 7.9% between 2011 and 2016, when it is expected to reach US$21.1 billion worldwide.

Minimally invasive surgeries (MIS) have been performed in the United States and in Europe for more than 10 years. Since then, techniques and instruments have improved and nowadays many organs can be operated through minimally invasive surgery. 

MIS is performed without the need for a large incision in the patient. It is performed through natural orifices or by small incisions through which tubes, catheters or laparoscopes are inserted, and by imaging techniques such as video-endoscopy or fluoroscopy, allowing the surgeon to access the sick region. 

This classification also includes prostheses and devices that can be implanted by minimally invasive techniques.

Some of the advantages of MIS are:

  • Accelerated and less traumatic recovery for patients;
  • Faster procedures for physicians;
  • Lower costs for hospitals;
  • Lower costs for health insurance companies;
  • High value added products for the industries;
  • Increased number of people served in the society.