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Medical device market overview

medical-Device-Overview.jpgThe medical device industry represents a tremendous business opportunity for innovative firms. Part of the reason is demographics. In 2016, the National Institutes of Health reported that the world’s older population was growing at an “unprecedented” rate.

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What is the ISO organization and why does its standard matter?

iso-blog-post.jpgThe medical device industry is one of the most heavily scrutinized and regulation-driven in the world. Regulatory challenges expand beyond the most sophisticated markets: Although the U.S. accounts for about 40% of the global market and Europe about 30%, high quality standards prevail in smaller blocs and nations as well.

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Will your medical product design stand the test of time ?

Medical Product DevelopmentHealthcare sector stakeholders are unlikely to change the way they operate to accommodate your new medical product unless it benefits patients and professionals alike. Similarly, your product must be future proof.

So, what steps can you take to make sure your medical product design provides value to stakeholders, both in the present day and the future?

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Planning the perfect exit strategy plan for your business

Enticing investors with a good exit strategy for your medical device

Exit strategyWhen developing a medical device, you need to have a sound exit strategy that paints a clear financial and marketability picture for prospective investors. Your exit strategy should be heavily influenced by your product development cycle. As such, it’s important to make the right decisions as early as possible, like choosing the right prototyping services provider.

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Why outsourcing medical device prototyping is essential to product development

The benefits of outsourcing medical device prototyping for product development

Medical Device PrototypingMedical device prototyping is crucial when designing a new medical device. Without it, your concept will never materialize into a commercially viable product. It’s your opportunity to put the real-life applications of your product to the test. These are the applications, after all, that will sell your device when it’s on the market.

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How to mitigate unforeseen costs during product development

Keeping costs in check during product development

Prototyping ServicesDeveloping a novel medical device idea is governed by two key aspects. The first one is whether your medical device will help solve a medical problem in an innovative and unique way, justifying an investment of time and resources. The second aspect is cost.

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Critical steps to empower your product launch plan

Critical considerations when launching a new medical device

Taking a new medical device to market is a big investment of time, human resources, and money. To successfully attract the right financial backers, you need to clearly define your process. It can help to call upon product development services providers to simplify the process. But when push comes to shove, you need a sound launch plan.

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Should I be outsourcing prototyping services or taking it in-house?

The advantages of outsourcing medical device prototyping

As a product development company, your aim is to design a commercially viable medical device that you can take to market. To achieve this goal, you need to optimize every aspect of your production cycle to ensure an appealing profit margin and consequently the best ROI possible for a financial backer. Outsourcing and using prototyping services suppliers can offer certain benefits. Below are some key aspects to consider when deciding what to outsource.

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How to enhance your product’s time to market

Optimizing your medical product’s time to market

Medical innovation is driven by the ever-present demand for new products in the healthcare sector. As technology evolves and new methods of device manufacturing and distribution are developed, product design companies are under pressure to shorten their time to market. Read More >>