Mark Crawford, Contributing Writer05.01.17
Medical device manufacturers (MDMs) are doing their best to deal with increasing pricing pressures and decreasing operational margins. Growth rates are slowing down in some developed markets but speeding up in others, such as smart devices and wearables. Younger OEMs and startups are innovating at a rapid rate and continue to find funding through angel, private equity, and venture capital channels. Larger OEMs, which are often reluctant to invest in R&D because of tighter regulatory controls, are reaching out to smaller companies for innovative technologies that can be quickly commercialized, without significant development costs.
As a result of these shifting dynamics, the process of medical device design is also going through some changes. Although traditional milestones of design input, product conceptualization and ideation, prototype design, verification, and transfer to manufacturing still exist, new project management paradigms and development tools are improving team coordination and communication, as well as design robustness—accelerating innovation in expanding markets while still controlling costs.
“Compa
As a result of these shifting dynamics, the process of medical device design is also going through some changes. Although traditional milestones of design input, product conceptualization and ideation, prototype design, verification, and transfer to manufacturing still exist, new project management paradigms and development tools are improving team coordination and communication, as well as design robustness—accelerating innovation in expanding markets while still controlling costs.
“Compa
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