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.
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