Med-tech innovation is dead, long live med-tech innovation

October 15, 2012 – 2:23 PM | By Holland Johnson | No comments yet

We have been hearing a lot about the death of innovation in the field of medical technology for the past few years, a victim; it would appear, of a sluggish worldwide economy and more stringent regulation and reimbursement policies. However, a closer look reveals that medical device innovation is still very much alive, and will continue to thrive both in the U.S. and overseas.

Medical Device Daily’s “Med-Tech on a Mission: Strategies to Drive Innovation” addresses the status, prospects and challenges that epitomize this market and identifies distinctive research agendas and tactical business development approaches that have the proven records, or the potential capacity, to drive this sector through its ongoing transformation into a market for the new millennium.

This report is designed to provide a unique insight into the complex and complicated world of med-tech innovation, the lifeblood of the industry that is threatened on both the funding and regulatory fronts. Finding financing, securing partners and distinguishing market opportunity has become more problematic in the ongoing economic downturn, so this report is designed to identify trends, potential partners and innovative companies that can facilitate the subscriber’s corporate strategies.

One chapter of the book is dedicated to a stellar panel, moderated by Jim Stommen, Medical Device Daily’s former executive editor, which includes innovators, executives and investors who have made unique contributions to the med-tech sector. Panelists include Thomas Fogarty, MD, PhD, president of Fogarty Research & Development; Perry Genova, PhD, founder and CEO of medical device start-up firm Oncoscope; Arlen Meyers, MD, president/CEO of the Society of Physician Entrepreneurs; and Kevin Schulman, MD, professor of medicine in the Duke University School of Medicine.

This incredible lineup of med-tech talent expressed  optimism that innovation can continue to thrive in the U.S., but expressed a concern that more rigid regulation and pricing pressure may drive much of that exploration overseas, which would be a disaster.

Fogerty noted that probably a third of the information being presented at major medical meetings is coming from people who reside outside the U.S. “When I first entered this field 40 years ago, probably 90% of what was presented in the way of valuable new information came from the United States. Not anymore, and I don’t think that is a welcome direction by any means.”

Schulman cautioned investors from looking at the overseas market as the ultimate panacea. “I think we’re seeing strategies that are not predicated solely on the U.S. market. Obviously everyone in the medical device industry is looking at emerging markets in hopes that they are the Holy Grail, but they may prove to be even more challenging; we’ll wait to see. And in terms of venture capital, it’s going to go where it can get the best return. As investment funding goes away from social networking, I think it will come back to healthcare, but it’s still going to be asking tough questions before they put money down.” He added that in the U.S. “Innovative funding mechanisms will replace old models: Crowd funding, superangels, possible government funding of technology transfer offices, state and local support for SBIR recipients, proof of concept funds, super accelerators.”

In addition to the one-of-a-kind roundtable panel, “Med-Tech on a Mission” features a wealth of singular interviews conducted by Stommen with individuals who are truly representative med-tech movers and shakers that comprise a wide range of aspects of the market.

There is also a chapter on strategic data that highlight trends in financing, innovation and business development practices that have characterized the market during its most recent 12 months are displayed in graphics that depict an aggressive market that has averaged more than two industry deals per day by medical technology companies and investors, financiers and business partners

The book also contains interviews with innovative new companies and delves into how these companies continue to find funding and conduct clinical trials in the face of difficult financial and regulatory challenges.

For more information on this new insightful report,and to order your very own copy, please go here .


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