Device Makers Take Advantage as Medical Device Industry Booms
Will there be a boom this year for the medical device market? The landscape is shaping up to support that idea and several companies are making significant headway in developing new devices for the marketplace.
Medical device manufacturing remains a strong market, driven by technological developments, an aging population and increases in chronic and lifestyle diseases – trends that expand healthcare spending, SelectUSA, a U.S. Department of Commerce program announced this year. In February, Today’s Medical Device highlighted the increasing economic footprint of the medical device market. The article pointed out that the medical device market is expected to hit $409.5 billion by 2023 and possibly increase to $595 million the following year. The reason for the growth is fairly simple when the rapidly aging population and the increase of chronic diseases are taken into consideration. The World Health Organization anticipates the geriatric population to reach 1.5 billion people by 2050, an estimated 16% of the global population.
These market factors have helped lay the groundwork for medical device manufacturers, such as Medtronic, Motus GI, Soliton and others. Some of the advances in medical device manufacturing are noted below.
Medtronic plc – Ireland-based Medtronic launched a pivotal trial for its next-generation Guardian continuous glucose monitoring (CGM) sensor designed to improve accuracy and overall system performance, reduce sensor calibrations and enhance overall user experience. The trial will study the next-generation CGM sensor in up to 460 participants with type 1 or type 2 diabetes aged two to 80 years old over the course of seven days. The system is designed to require calibrations only on the first day of wear and reduce patient fingersticks by 95%. Additionally, Medtronic announced a partnership with Germany-based KARL STORZ SE to develop three-dimensional vision systems and visualization components into Medtronic's forthcoming robotic-assisted surgical platform. Using input from surgeons, the companies designed a flexible system that will enhance vision during robotic surgery.
Also, Medtronic announced the planned launch for the recently approved SelectSite C304-HIS deflectable catheter system for use in procedures involving His-bundle pacing (HBP). The SelectSite C304-HIS deflectable catheter system features a deflectable, out-of-plane curve to reach the bundle of His and is designed to enable enhanced range maneuverability, fixation and implant success for a wider range of patient anatomies. Its adjustable form helps accommodate and secure the pacing lead in more challenging anatomies, including patients with a large right atrium, the company said.
Soliton – Last week, Texas-based Soliton announced that its pulse technology platform was capable of reducing cellulite in women. The company announced positive data from its proof of concept clinical trial for the reduction of cellulite and plans to take the technology to the next clinical stage. The company’s Rapid Acoustic Pulse (RAP) device, originally approved for tattoo removal, was applied to the surface of the patients' skin and helped reduce the cellulite on thighs. The device was non-invasive and caused little pain in the few patients who used it during the proof of concept, the company said. Walter Klemp, co-founder of Soliton, said the results of the proof-of-concept trial are driving the company’s decision to launch a pivotal trial as quickly as possible and suggests that the device “may be able to significantly improve the appearance of cellulite with a single completely non-invasive procedure.”
Motus GI – Based in Fort Lauderdale, Florida, Motus GI received clearance from the U.S. Food and Drug Administration for its second-generation Pure-Vu System to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The device integrates with standard and slim colonoscopies to enable safe and rapid cleansing during the procedure while preserving established procedural workflow and techniques. Motus GI believes that the Pure-Vu System may improve quality of care and potentially reduce healthcare costs by reliably and predictably moving patients through the hospital system to a successful examination.
Baxter International -- At the end of May, Illinois-based Baxter International announced new research that features real-world clinical experience with the company's Oxiris filter. The filter can be used simultaneously in continuous renal replacement therapy (CRRT) and in the removal of cytokines and endotoxin to aide in the management of acute kidney injury (AKI) patients with sepsis, the company said. The use of EBP to remove cytokines and endotoxin from the blood represents a promising approach to treat patients with conditions where excessive levels of those inflammatory mediators are often seen including sepsis, a serious medical condition that affects up to 40% of critically ill patients in the ICU, Baxter said in its announcement.
The work advanced by companies like these will pave the way for the rapid growth of the medical device community.