Medtech Experts See Opportunity Despite Some Funding Issues
The medical device industry is a âstrong ecosystem,â 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 MassMEDICâs 2019 Town Hall in May, held in conjunction with BIOMEDevice Boston. He cited the latest âState of the Massachusetts MedTech Industry Reportâ by Grant Thornton LLP. Massachusettsâs 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. âMedtech activity has been leveling off in terms of 510(k)s, PMAs, and patents,â Pat Shafer, managing director of Grant Thorntonâs healthcare and life sciences practice, told the audience in May.
The ânumbers bear paying attention to,â Johnson later told MD+DI. âLooking 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: Daphne Allen Tags: Business Source Type: news
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