Analysis of China's medical device market prospects: product safety torture industry future

Medical devices refer to articles that act on the human body in the medical field, and mainly include instruments, equipment, instruments, materials, in vitro diagnostics, and calibrators thereof.

The medical device industry has gone through another year. In the past year, medical device companies have not been able to gain the attention of many people like many pharmaceutical companies, but they can still be said to be developing rapidly. So, what challenges will the medical device industry face in 2016?

For medical device companies, 2016 will be full of opportunities and challenges. On the one hand, the industry will face pressure from regulation and funding; on the other hand, technological innovation will greatly benefit the medical device industry and the diagnostic industry. Information technology, nanotechnology, cloud data, deep learning, personalized medicine, and the popularity of smartphones will all be powerful drivers of the development of the medical device industry . On the other hand, it should be noted that many medical device companies are still carrying out a large number of repeated research and development, which will inevitably limit the efficiency of the company's research and development.

Product safety torture medical device industry future

Regulatory pressure from the FDA will be an important challenge for major medical device companies in the coming year. In fact, various recalls in the past few years have given the public a big question mark about the safety of medical device products. It seems that the FDA is still exploring this issue. Even in the past year, some FDA measures have caused many analysts to question. For example, the FDA approved the launch of Essure, a contraceptive device developed by Bayer, in 2016, which has caused concern among many people. In addition, the endoscopic safety incidents that emerged in 2015 further add to the patient's insecurity. In October 2015, the FDA asked three manufacturers of duodenal endoscopes to conduct after-sales tracking of their products to prevent contamination of related products. However, due to this incident, the safety of other types of endoscopes also caused concern.

Network security or future FDA focus

In addition to product safety, network security has also become a concern of relevant organizations. In January 2015, the FDA held a meeting on this issue. In addition, the FDA's recall of the Hospira infusion pump has even caught the attention of the US Department of Homeland Security. This also means that another focus of the medical device industry in 2016 is cybersecurity. For more information on the latest medical device market prospects, please refer to the "2016-2021 Medical Device Industry Market Competitiveness Survey and Investment Prospects Forecast Report" published in the China Report Hall.

Technological advances urgently need to be followed up by the FDA

Technological advances have also placed new demands on FDA's regulatory work. For example, the current FDA's management of emerging products and services such as consumer-oriented medical devices and apps and laboratory testing methods is still blank. Although in the past year, the FDA has indicated that it will issue a series of guidance on the supervision of laboratory testing methods; but for the former, the FDA has not found an effective method to deal with.

Financing has become an important theme in the 2016 medical device industry

Financing in 2016 will also become an important theme in the medical device industry. As the merger progresses, the number of acquirers in the market will further decrease, and many companies will face difficulties in financing difficulties in the coming year. However, some analysts believe that the relaxation of IPO conditions will solve this problem to some extent. And many competitors from the pharmaceutical industry will also promote the rapid development of this industry. Many large biopharmaceutical companies regard the medical device sector as the next growth point for the pharmaceutical industry. In addition, with the continuous integration of medical devices and diagnostics, some traditional biopharmaceutical companies have also jumped into this dynamic new market.

Who can rewrite the future market order?

So, in 2016, who can redefine the future of the medical device industry? Analysts mentioned the names of the three companies. The first is Philips, which integrates medical insurance with consumer products. Secondly, Verily, a biomedical technology company owned by Google, after the Internet giant Google changed its name to Alphabet in 2015, it has raised the life sciences industry to an unprecedented height. Finally, VerbSurgical, a company dedicated to the development of surgical robots and new medical devices, was founded by Johnson & Johnson. These companies are considered to be strong competitors in the future to rewrite the medical device market order.

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