Nanotechnology to Increase Cost Efficiency by Streamlining Global Medical Devices Value Chain
Technology startups seek growth opportunities by partnering with large medical device companies and scale commercial operations, finds Frost & Sullivan's TechVision team
SANTA CLARA, California, Dec. 21, 2016 /PRNewswire/ -- Nanotechnology-based medical devices reduce costs across supply and demand value chains, as they firmly place the bargaining power in the hands of large medical device manufacturing companies. By incorporating nanotechnology into their products, original equipment manufacturers (OEMs) can streamline their supply chain and eliminate business units that hurt their margin. Nanotechnology enables manufacturers to create differentiated, highly precise products that improve the overall quality of life for patients, which opens up the scope for their commercialization.
"Owing to the significant commercialization potential of nano-materials, large medical device companies have partnered with university spin-offs and research institutes to co-create solutions that improve the effectiveness of therapies," said Frost & Sullivan TechVision Industry Analyst Arjunvasan Ambigapathy. "Researchers particularly focus on developing products for high-growth medical device sectors such as wearables, point-of-care diagnostics, advanced wound care, and drug delivery systems, targeting conditions other than cancer."
Nanotechnology to Achieve Cost Efficiencies within Global Medical Devices Value Chain is part of the TechVision (Microelectronics) Growth Partnership Service program. The study details technology developments in the major medical device segments of drug delivery systems, in vivo imaging, medical implants and in vitro diagnostics. It also evaluates the outcomes of strategic partnerships with start-ups and research institutions, and explores investment opportunities in nanotechnology research programs.
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There are few impediments to the rapid commercialization and adoption of nanotechnology during development of medical devices. Even the challenges inherent in the scaling up of nanocoating technologies and nano-functionalization of surfaces for the improved performance of devices are almost negligible.
"Meanwhile, initiatives by global regulatory agencies to encourage the use of nanotechnology in medical devices are likely to have a big impact on the large-scale commercialization of nano-based medical devices," noted Ambigapathy.
Overall, companies that can out-innovate their peers and are quick to form strategic partnerships with industry majors are best poised to succeed early.
About TechVision
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.
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Nanotechnology to Achieve Cost Efficiencies within Global Medical Devices Value Chain
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