FDA cuts could threaten medtech innovation: Here ’s why

The Trump administration’s proposed federal budget could hurt the speed and quality of FDA review times, says a top expert at Musculoskeletal Clinical Regulatory Advisers (MCRA). Glenn Stiegman, MCRA Innovation is a vital element of success for medical device companies. More than 6,500 U.S. companies are developing technologies that improve patient outcomes. This represents a potential market value of $544 billion by 2020 based on current growth rates among an ever-aging population. However, the government’s plans for the FDA could endanger this growth story. The advance in device technology is exerting tremendous pressure on the FDA to help speed approvals for new or improved orthopedic technologies. The FY2018 Presidential Budget Request (PBR) recognizes the need to increase the number of reviewers able to streamline the process without lowering the threshold of review quality – but without the requisite increase in funding. Read the whole story on our sister site, Medical Design & Outsourcing The post FDA cuts could threaten medtech innovation: Here’s why appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Food & Drug Administration (FDA) Source Type: news