Nearshoring vs. Offshoring Your Medical Device Manufacturing
COVID-19 halted production at manufacturing plants worldwide, sending massive disruption through every supply chain, from car parts to fashion to medical supplies. Many industries are still recovering. In healthcare and medtech, medical device nearshoring vs. offshoring is a hot topic. Recent surveys indicate that about two-thirds of North American manufacturer
The Top 5 Questions Investors Ask Before Investing in a Medical Device Company
Navigating the advanced medical device development landscape is no small feat, especially when looking to secure investment. Economic uncertainty is causing investors to be more cautious. However, as this chart below from Nova One Advisor shows, overall growth projections in the Medical Device market are unequivocally positive. Source: NovaOneAdvisor.com If you
What Investors Want to Know Before Funding an AI-Integrated Medical Device
If you’re seeking funding for an AI-powered medical device, you will be facing a series of targeted questions beyond the usual investment criteria. From intellectual property concerns to data ownership and algorithm maintenance, investors have many questions about how an AI integration affects a medical device’s market potential. With the projected grow
An Early Report: How AI Will Influence Advanced Medical Devices
The rapid advancement of Artificial Intelligence (AI) is revolutionizing technology, and the advanced medical device sector is one of the most exciting areas of innovation. AI is poised to make significant strides in influencing advanced medical devices and reshaping healthcare delivery’s future. The graphic below from a 2022 published paper in Nature Med
5 Trends Shaping the Future of Advanced Medical Devices
Artificial intelligence, surgical robots, custom prosthetics printed on-site, tiny devices sending information from inside the body to medical teams miles away – we live in a time when so much real innovation is happening in the advanced medical device real world that sci-fi may become obsolete! Players in the healthcare landscape, such as advanced medica
Reducing AI Risk to Secure Regulatory Approval
For most of 2023, the consumer tech space has been flooded with news about AI. As the chart below shows, the advanced medical device industry has been flirting with AI for several years. The implications for advanced medical device development are substantial, especially as regulatory bodies grapple with issues around data privacy and bias. Whether […]
Riding the Innovation Wave: 5 Top Medical Device Companies Known for Innovation
Like the Apollo moon shot in the 1960s to today’s Mars Rover explorations showcase exponential leaps in technology, the medical device field has also evolved at a mind-boggling pace. As new technologies like AI and cloud drive innovation, where should advanced medical device leaders look for direction and inspiration while channeling the vision into the [&hel
Designing for Compliance: QMS & Validation Testing for SaMD vs. Physical Devices
“God is in the details” is an old German proverb that Nietzsche (not surprisingly) paraphrased to the more common saying “the Devil is in the details.” While Nietzsche knew nothing about medical device regulatory compliance and testing, anyone experiencing the journey to FDA approval would agree that the process often feels more devilish than divine. [&
AI and the FDA – What New Guidance Means for AI Innovation in Healthcare
When ChatGPT exploded on the scene in late November 2022, Artificial Intelligence (AI) became the mainstream hot topic of discussion. And for good reason; AI’s potential influence on human society is almost infinite and accelerating rapidly. The healthcare industry is lagging slightly in AI adoption compared to other industries. Even so, connected medical
Choosing the Right API for Your Medical Device
Cloud-based solutions for data storage is not a recent innovation. A relatively new concept in medical devices is storing data in the cloud. Given the mission-critical task of protecting and managing that data, some medical device developers may consider “build your own” solutions as the best approach. This post gives an overview of what to […]
