Advanced Bionics’ Post

"The Tech Council of Australia noted in its 2023 paper ‘More shots on goal’ that the Australian tax system currently provides greater incentives to invest in a forklift than in developing software," writes Dig Howitt from Cochlear today in our Towards 3% series. "Such misalignments hinder economic objectives and innovation. Additionally, the decision to eliminate the patent box for medical innovation in the last budget was a missed opportunity to make Australia a more attractive place to invest in and commericalise R&D. "With so many things going right for medical innovation on the research side, the right policies and incentives from the Government could be the boost that ensures advanced medical manufacturing plays a key role in propelling Australia’s growth." #manufacturing #afuturemadeinaustralia #australianmanufacturing Advanced Manufacturing Growth Centre Ltd Australian Industry Group (Ai Group) AusBiotech #medtech Bionics Institute Ed Husic MP

In the world of manufacturing, especially in the tightly regulated domain of medical devices, Research and Development (R&D) isn't just an option – I feel it's an absolute necessity. And our love affair with R&D goes way beyond just making copies of existing products. It's about throwing caution to the wind, trying out new things, pushing the limits, and basically being the cool kids shaping the future of healthcare. Think of it as the rebel spirit of manufacturing.This obsession with R&D isn't just a thing we do; it's what keeps us ahead in the orthopedic device game. All because we're on a heartfelt mission – we're not just creating stuff; we're enhancing the quality of life for patients through innovative solutions. #MedTechInnovation #LeadingTheWay

It's not surprising that most medical device product development companies stay away from fixed-cost or milestone-based pricing. 🙅♀️ It’s the challenging moments when managing a fixed-cost project gets tested. 😰 “If we were working on time and material, we would just say we needed more time and money. That’s something that most startups cannot afford." So how can we do it? It's all in this blog post ⬇ https://lnkd.in/eySFWv5G #medicaldevice #productdevelopment #productdesign #fixedprice

There are good reasons that fixed-cost pricing is a rarity in medical device product development projects. Medical device development—and especially for implantable and lifesaving devices—is a highly complex undertaking that can take years. Going into it, there are many unknowns, and initial assumptions may prove inaccurate as the project unfolds. So what’s the secret to making milestone-based pricing successful? Cinnamon Larson, PhD, VP of Research and Development with over 25 years of experience, spills the beans about the formula that makes milestone-based pricing strategy successful for Nocturnal and our #MedicalDevice clients. https://lnkd.in/eySFWv5G #MedTech #fixedcost #lifesaving #implantable #classII #classIII

Turns out that everybody wins with fixed cost projects.

What does it take to be a leader in implant medtech, in 2024, in Australia? Having worked for a big multinational for 15 years, and a leading diversified distributor for 10, my insight into what works, what doesn’t, and what might in this brave new world, makes me excited for what we’re doing at Evolution Surgical! Here’s a few thoughts: 🇦🇺 Innovate and be nimble. Find room in your roster for in-house design and development staff, own your process from napkin to implantable device 🇦🇺 🇦🇺 Don’t make promises to surgeon customers you know OS HQ will never support. When you’re an island nation of 26m people, it’s hard to get your US or Euro HQ to take notice of the Aussie Experience, that’s why soverign manufacturing capability will be king for anyone playing in spine and ortho in the next decade 🇦🇺 🇦🇺 Be smart with your strategic partnerships. Big Tech companies can provide strong enabling capabilities that can improve safety, speed and outcomes. Evolution Surgical is happy to explore opportunities to partner with likeminded international manufacturers where appropriate - as MDR and CE challenges pushes companies out of regulatory compliance in Australia, talk to us about how we can assist 🇦🇺 🇦🇺If you engage surgeons for their opinion and thoughts, apply their knowledge to sharpen your offering and improve utility, don’t waste their time for an easy in to their O.R 🇦🇺 What we do is hard. What we do isn’t meant to be easy - and those who show thought leadership in this space will rise above. #isupportaussiemedtech, do you?

Ever wondered about the MedTech industry? 🤔 Let me share some insights: The US medical device industry is the global leader with sales around $176 billion, representing approximately 45% of the global market (GAO, 2020). With over 7,000 medical device companies in the US, mostly small and medium enterprises, the industry is highly fragmented. And, acquisitions are becoming more common, reshaping the landscape. Medical devices span from simple tools like tongue depressors to complex equipment like programmable pacemakers and CT scanners. If it's not a drug or capital equipment, it's likely a medical device. So, what exactly is medical sales? Medical sales involve promoting healthcare products or services to medical institutions such as hospitals, doctor's offices, clinics, surgery centers, or even consumers directly. Was this helpful? What MedTech tips would you share with someone exploring this industry? https://lnkd.in/eDbGYuFS #medtech #medicaldevice #careeradvancement

🚀 Challenges and Strategies in Navigating the Competitive Medical Device Market 🚀 In the ever-evolving landscape of medical devices, especially in electrophysiology (my area of focus), the competition is not just a hurdle – it's a constant companion. My experience working with some of the world's leading medical device OEMs and startups has led me to the following observations of the depth and dynamics required to compete in a field dominated by giants. 🔍 The Challenges: Intense Competition: Breaking through in a market where established players reign is daunting. The pressure to innovate while maintaining the highest quality and safety standards is immense. Rapid Market Changes: The pace at which new technologies and regulations evolve can be overwhelming for both OEMs and startups. 🌟 Strategies to Navigate Market Challenges with Integer's Support: Innovation with Purpose: At Integer, we believe that innovation should directly address unmet needs in the healthcare market. We collaborate with OEMs and startups to develop products that don't just stand out but significantly enhance patient outcomes. Agile and Adaptive Approach: In a market that moves rapidly, agility is key. Integer brings this agility to R&D and operations, helping larger and smaller companies alike to quickly adapt to market changes and capitalize on new opportunities, a trait that often sets them apart from larger, slower-moving competitors. Customer-Centric Development: Understanding end-user needs is crucial. At Integer, we emphasize early and frequent engagement with medical device OEM and startup customers. Our collaborative development process is designed to incorporate user feedback, ensuring that the products we help bring to market truly meet customer needs and expectations. Build Strategic Partnerships: The power of partnership cannot be overstated in this competitive landscape. Integer acts as a strategic ally, providing essential support and resources to help OEMs and startups navigate market challenges efficiently. From innovative technology to superior quality and dependable manufacturing, we're here to accelerate your journey to market success. As the Director of Product Management at Integer, deeply embedded in the electrophysiology sector, I am exhilarated to be part of the journey that empowers medical device OEMs and startups to thrive in this challenging yet opportunity-rich environment. Don’t miss out on this chance to connect and see how together, we can Innovate, Partner, and Accelerate in the dynamic world of medical devices. 🌟 Join Integer at MD&M West This Week! 🌟 📅 MD&M West, Booth #1439 - We look forward to seeing you there! #InnovateWithInteger #HealthcareInnovation #MedicalDeviceMarket #Electrophysiology #StrategicPartnership

In the world of medtech innovation, every step forward begins with understanding and communication. Do you want to discover the key to revolutionizing the medtech industry? This article sheds light on how continuous communication, resourceful prototyping, and user-centric education can transform medical technology. From Deanne's collaborative design efforts to Waqaas' approach on making technology accessible, these strategies are not just theories but practical steps towards innovation. #MedicalDeviceDevelopment #Biotech  

Dennemeyer's IP Trend Monitor 2023 has landed. The eight industries explored in this year’s IP Trend Monitor are automotive, biotechnology, energy, digital media, information and communications technology (ICT), medical devices, pharmaceuticals and space. For all of them, an advanced level of innovation is essential to the development of new products, services and business models. Thus, each industry also raises intriguing points about the influence of IP strategies and how different kinds of exclusive rights will shape the future of research and commerce.  To get your copy: https://lnkd.in/g_Ju4jdK. pages