Medtech Experts See Opportunity Despite Some Funding Issues

The medical device industry is a “strong ecosystem,” particularly in Massachusetts, Brian Johnson, president of MassMEDIC, told MD+DI. One in four products exported out of MA is a medical device, Johnson had told attendees of MassMEDIC’s 2019 Town Hall in May, held in conjunction with BIOMEDevice Boston. He cited the latest “State of the Massachusetts MedTech Industry Report” by Grant Thornton LLP. Massachusetts’s medtech sector could also be seen as pacing ahead of those of other states in terms of innovation, as it is a leader in the number of approved medical device patents when adjusted for relative state GDPs, according to the report. Overall in the U.S. market, however, the numbers of 510(k) clearances and premarket approvals (PMAs) in 2018 were down from 2017, according to the report. “Medtech activity has been leveling off in terms of 510(k)s, PMAs, and patents,” Pat Shafer, managing director of Grant Thornton’s healthcare and life sciences practice, told the audience in May. The “numbers bear paying attention to,” Johnson later told MD+DI. “Looking at the report, it's clear there is a general decrease in the number of 510K clearances across the board in the U.S. since 2015. There are several factors that may be contributing to the decline incl...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news