MedTech Innovation Round – Up (October 2021)

We’re no longer focused on the new normal. Say hello to the post-pandemic world!

Digital technology bridged the gaps as we responded to healthcare during the pandemic. As a result, we might be seeing a post-pandemic world where citizens are more empowered to access the best healthcare via telemedicine, and also receive medical advice remotely.

The COVID19 pandemic also pushed the fast digital transformation of medtech which made it possible to reimagine a post-pandemic world because of new technology. Companies using new technology respond better to changing market conditions and prepare better for future crises. As we adopt these technologies, we are becoming more agile and resilient.

As of today, the medical device sector continues to grow. According to MDDI Online the medtech market in 2020 grew by 6.3% and 95% of medtech companies see a better 2021 over 2020. The growth trend is because of the demand for medical devices, diagnostics, and supplies for the pandemic response.

Reimagining the post-pandemic world does not mean we’re stopping the immediate response to COVID19. Nectar’s recent tech innovation along with BreathDirect, BDR19™, a critical care ventilator has been approved by the US FDA for emergency use in the US.

We’ve curated a few recent medical developments for you below to help you keep your finger on the pulse of the industry!

Medtech Innovation

PhonoGraft Technology developed a 3D-printed polymer-based implant that could mitigate pain, drainage, and hearing loss because of eardrum perforations. The technology uses a novel biomaterial-based approach that guides the regeneration of native eardrum tissue. (MDDI Online)

Foster brand loyalty the Apple way! We can learn how tech giant Apple challenged itself to look at the consumer experience of their products, which were presented in its intuitive packaging. This includes presenting the product contents sequentially, as intended for its use. Not only is this important for brand or identity but also to retain the efficacy of a drug or device. (MDDI Online)

Tech

Blue Origin announced its plan to build a free-flying space station called Orbital Reef. This will provide essential space infrastructure open for researchers, industrial and commercial customers, and international partners to visit and work. This will scale economic activity and open new markets in space. Orbit Reef will begin operating in 2025. (The Verge)

This venture is joined by Sierra Space and Boeing as they are looking to replace the International Space Station. (Tech Crunch)

Project Management

We lack human leaders. The pandemic shows that we no longer need “hero” leaders. It is no longer about technical expertise and having all the answers, but it’s about being human, showing vulnerability, and connecting with people. Human leaders create a profound and lasting difference in the lives of people around them. (Harvard Business Review)

Regulatory

The US FDA changed its emergency authorization templates to support more COVID19 tests, for over-the-counter use with an offer for flexible study recommendations. (Medtech Insight)

mHealth Industry accelerates growth using mobile communication tech and wearable devices. The pandemic increased health awareness to consumers and healthcare providers that they demand user-friendly, accessible, and focus-oriented mhealth solutions. This empowers patients to be more proactive in their health management. (Medtech Intelligence)