How Technology is Accelerating Time to Market for Medical Devices

A leader in the healthcare sector, Chris Manfuso is the national director of sales at Enovachem Pharmaceuticals where he leads business development and oversees marketing partnerships. Chris Manfuso leverages his experience working in the healthcare field to guide his company as it seeks to expand and reach new goals in the industry.

One of the biggest challenges in the medical device and pharmaceutical industry is the extended time to market, a process from the initial discovery of a new drug or development of a new device to its eventual market availability takes an average of six to seven years. However, recent tools may help reduce that time considerably.

One of those is a pre-certification program for digitally-enabled device manufacturers from the FDA’s Digital Health Innovation Action Plan. The program allows pre-certified manufacturers to market low-risk medical devices much faster.

Another major trend is the vast investment in technology platforms in the medical industry as a whole. Machine-learning algorithms, cloud computing, and advanced robotics are all allowing medical manufacturers to gather unprecedented amounts of data in a short time. This data is streamlining the development process considerably and has a major impact on asset utilization.