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As augmented reality and virtual reality tools continue to edge into health care, it’s easy to see the advantages. Color overlays and 3D renderings help surgeons make more informed decisions during a sensitive operation. Medical students practice procedures in a safe, immersive setting. An ultrasound technician conducts a hands-free examination at the patient’s bedside with a lightweight, portable display. In the end, digital realities such as these are aimed at improving patient outcomes. AR and VR will become more commonplace in the health care industry and it’s up to the medical device manufacturers to help push innovations into this sector.

Recent research predicts that R&D expenditure for medical devices will grow to $34 billion by 2022, but top line growth is slowing. And while this increase in R&D investment is a positive sign, uncertainty in healthcare reform is causing some paralysis in the market. How can companies overcome this risk aversion and really sell?

As we do each year, Launch Team has paired up with Novatek to take a close look at the current trends, changes and technologies that are impacting the medical device industry. From product launches to new sales models, we're examining the 2018 outlook and sharing our insights.

Opportunities and Challenges

For optics and other component manufacturers, medical devices represent a strong opportunity—especially for those who need to diversify their revenue base from DoD.

The US medical device market growth rate has slowed in recent years; it’s projected at 6.1% for 2017. There are several factors slowing growth and innovation in US healthcare, including:

• The repeal and reform of the Affordable Care Act, and post-election uncertainty
• Iterative product innovation to speed product launch, reduce FDA hurdles, and reduce risk

With rising trends in the medical device market such as 3D imaging and telemedicine, the consumer need for information is higher than ever. This article explains the basics of medical device classification and how to make sure your marketing adheres to FDA regulation.

Launch Team is collaborating with technical documentation and training company Novatek to explore marketing and product launch challenges in the medical device industry.

In this interview with Paul Thomas, Development Director of Cupris Health, we explore the barriers, strategies and tactics for medical device product launch. Cupris, located in the UK and looking to enter the US market, has developed communication software and smartphone-connected medical devices that enable remote diagnosis and management of patient conditions.

In our annual deep-dive into the medical device industry, Launch Team collaborates with technical documentation and training company Novatek, which serves medical device and other regulated industries. Read their take on MEDTECH 2016 on the Novatek blog.

This year’s MedTech conference in Albany provided interesting insight into the direction of the medical device industry. While the impending election holds the fate of things like the Affordable Care Act and medical device tax, other changes are clear. Defining a value proposition is more important than ever for medical device companies, and buying power is steadily shifting to consumers.

In our annual deep-dive into the medical device industry, Launch Team collaborates with Novatek, which provides documentation and training services to companies in medical device and other regulated industries. Today’s post explores telemedicine’s implications on customer and user engagement as well as marketing, sales and support.

In our annual deep-dive into how market and technology changes drive marketing, sales and service models in the medical device industry, Launch Team and Novatek take a look at the stats behind the decisions we see in the medical device companies we work with each day.

This beer and blog was no hardship; Michele met with Tom McCall in beautiful Laguna Beach, near Tom’s home base at ICU Medical. Tom is the VP and General Manager, and has led marketing for medical device companies like Welch Allyn and Masimo. Over a beer (Stone Liberty Cliché Blonde Ale, to be exact), he shared some insights on medical device marketing, sales, and company branding.

In our annual deep-dive into the medical device industry, and how market and technology changes drive marketing, product launch, sales and service models, Novatek and Launch Team take a look at the industry outlook for the coming year and how the medical device companies we work with are responding.

The Launch team is gearing up to teach, learn and share at multiple industry events this fall.