In this introductory section, we discuss the current landscape of the medical device industry and the forces taking shape today that will drive growth into 2030 and beyond. From new technology to shifting patients’ experiences, we’ll explore how a wide range of issues are affecting product development and innovation, as well as the impact of digitization and data when it comes to device regulations and operations.
By 2025 the global medical device manufacturing market is expected to exceed $600 billion, driven largely by the aging population, increasing prevalence of chronic diseases, technological development and demand for more personalized treatments.1 Regulatory bodies are also reacting, both to protect consumer safety and to remove unnecessary roadblocks for device companies.
Despite the optimistic outlook for manufacturers, however, many are not equipped to compete in this quickly evolving marketplace. To keep pace, manufacturing organizations must break from their tried-and-true norms, which may present the biggest challenge of all. But once they do, the emerging developments in both manufacturing and technology will allow them to realize drastic efficiencies in product discovery and development, regulatory compliance and, ultimately, time to market.
This brief will explore three emerging trends that are likely to affect the speed at which medtech and life sciences manufacturers are able to deliver their life-changing products to market.
Automation is not a four-letter word and it’s not something to curse. Especially, for professionals in highly-regulated industries, such as life sciences. Sustaining a competitive advantage goes beyond simply modernizing technologies and lean processes. It’s about empowering people to leverage automation and real-time insights to work smarter and adapt faster to changing regulatory conditions. And, it’s about ensuring that innovative, high-quality products make it to market faster and more affordably.
As digital technology continues to drive the next wave of transformation across all industries and aspects of work – from pharmaceuticals to heavy machinery – it’s important to explore the fear versus the reality that these technologies provide. Just as quality and productivity should always be in sync, so too can automation and improved human capacity.
Leveraging today’s revolutionary technology initiatives like Industry 4.0, digital thread, robotic process automation and countless more means staying ahead of the competition, but it requires the right manufacturing software – and going fully paperless. This white paper is your guide to the past, present and future of manufacturing software solutions.
Today, the next wave of life sciences firms is embarking on Industrial Transformation (IX) of manufacturing and quality. These companies are not the early innovators, but rather the next and much larger wave striving to leverage lessons and more mature tech vetted by the early innovators to quickly implement higher success, lower risk initiatives.
This research provides new perspectives to guide these organizations.
The world of medical device manufacturing will be a thrilling and challenging space in 2020 as record-breaking revenues, ever-changing regulatory conditions, technology innovations and promising new market opportunities collide. The industry grew at a record 7% clip in 20191 — a nine-year high — and total global revenues are expected to reach $483.4 billion in 2020.
This article will look at some of the trends anticipated to make a substantial impact on the medtech sector in 2020 and offers suggestions about how manufacturers can best position themselves to roll with and benefit from those changes.
Pharmaceutical companies are striving to play a larger role as solution providers in the health care value chain. Already, organizations are devoting more effort toward identifying new markets and ways to accommodate the health care needs of developing economies. At the same time, emerging trends in technology and the regulatory arena will largely influence how pharmaceutical companies design and manufacture products.
The following five trends reveal how the pharmaceutical industry as a whole is taking on a new look and how manufacturers can position themselves to remain competitive in the rapidly-changing pharma landscape.
Metrics reign supreme in manufacturing, which means any new technology must be evaluated on its ability to drive measurable, scalable impact to your production operations, product quality and site performance.
MasterControl has been helping companies ensure product quality and compliance for over 20 years — but often those metrics are about mitigating long-term risk versus driving real-time operational gains. That is until now. The new MasterControl Manufacturing Excellence solution delivers the next generation of digital production records to drive immediate improvement to plant operations and product quality.
In this white paper, you will learn how improve operations by achieving right the first time and accelerating reviews, optimize resource utilization, and measure the impact of digitization.
Metrics reign supreme in manufacturing, which means any new technology must be evaluated on its ability to drive measurable, scalable impact to your production operations, product quality and site performance.
MasterControl has been helping companies ensure product quality and compliance for over 20 years — but often those metrics are about mitigating long-term risk versus driving real-time operational gains. That is until now. The new MasterControl Manufacturing Excellence solution delivers the next generation of digital production records to drive immediate improvement to plant operations and product quality.
In this white paper, you will learn how improve operations by achieving right the first time and accelerating reviews, optimize resource utilization, and measure the impact of digitization.
Chances are you wouldn’t buy a fax machine, install landlines and order checks.
Embracing digital is now so instinctive, you would digitize and automate everything. You would invest in cloud-based technology that was easy to use, connect and scale.
In this paper, you will learn the importance of an agile and modern technology foundation, how to take the right risks versus follow the right rules, and the cost of inaction and non-modernized technology ecosystems.
Chances are you wouldn’t buy a fax machine, install landlines and order checks.
Embracing digital is now so instinctive, you would digitize and automate everything. You would invest in cloud-based technology that was easy to use, connect and scale.
In this paper, you will learn the importance of an agile and modern technology foundation, how to take the right risks versus follow the right rules, and the cost of inaction and non-modernized technology ecosystems.
Chances are you wouldn’t buy a fax machine, install landlines and order checks.
Embracing digital is now so instinctive, you would digitize and automate everything. You would invest in cloud-based technology that was easy to use, connect and scale.
In this paper, you will learn the importance of an agile and modern technology foundation, how to take the right risks versus follow the right rules, and the cost of inaction and non-modernized technology ecosystems.
Metrics reign supreme in manufacturing, which means any new technology must be evaluated on its ability to drive measurable, scalable impact to your production operations, product quality and site performance.
MasterControl has been helping companies ensure product quality and compliance for over 20 years — but often those metrics are about mitigating long-term risk versus driving real-time operational gains. That is until now. The new MasterControl Manufacturing Excellence solution delivers the next generation of digital production records to drive immediate improvement to plant operations and product quality.
In this white paper, you will learn how improve operations by achieving right the first time and accelerating reviews, optimize resource utilization, and measure the impact of digitization.