It’s no surprise why the $400 billion medical device industry is booming. Worldwide, average life expectancy is increasing year after year, mainly due to advancements in biomedical technology improving patient outcomes and reducing hospital stays. The increasing elderly population combined with ongoing healthcare improvements in emerging nations ensures that the medical device market will continue to grow.
Despite these increased opportunities, medical device manufacturers have their own unique challenges. Competition, of course, is fierce from both domestic and international providers. First-mover status may bring you important competitive advantages, such as brand recognition and market share, but the pace at which technology is evolving can erode the benefits of that status very quickly. Newcomers with equivalent, but cheaper and more technologically advanced devices, have the opportunity to displace your products and reduce your market share.
Ongoing R&D in product improvements and new product lines is therefore key to driving your continued success.
Maintaining an accurate design history is absolutely critical to comply with industry regulations. The U.S. Food & Drug Administration (FDA) takes an average of six months to review device submissions, and devices must be resubmitted for approval every time they are modified.
With this pressure to innovate quickly, many forward-thinking medical device companies are re-examining their design and manufacturing process.
In our latest eBook, “Modern CAD for Medical Device Design,” you’ll read insights from three successful companies who switched from an old file-based CAD system to Onshape:
- Thinklabs (Digital Stethoscope)
- HydroWorx (Underwater Treadmills)
- Vicarious Surgical (Surgical Robots)
Onshape customer Vicarious Surgical is developing the world’s first virtual-reality surgical camera to allow surgeons to perform micro-invasive surgery with the ease of an open procedure. (Photo courtesy of Vicarious Surgical)
What exactly is a “modern” CAD system and how does it help medical device companies speed up production, boost collaboration and increase innovation?
Adam Sachs, CEO of Vicarious Surgical, calls Onshape “the 21st century version of CAD.”
“Onshape takes away all this infrastructure that we’d otherwise have to manage. It eliminates all these issues blocking collaboration between teams,” he says. “You don’t need to install anything. You don’t need to maintain versions. Everything is just managed for you.”
And when your company’s most creative people no longer have to think about managing data or worrying about IT, they can better focus on doing what they were originally hired to do – designing great products.
Download your copy of “Modern CAD for Medical Device Design” today and find out what your engineering and manufacturing team is missing!