This is what we know. Launching any new product is a potentially risky  business,  and  medical technology is no different.  That's  why C-suites think long before allocating resources for research and development.  However,  moving forward is critical to growth as we operate in a time of unprecedented market opportunity. 

The key to successful medical technology development is implementing  effective strategies with cost-effective solutions to dramatically reduce risk, remove roadblocks, and increase the chances of significant ROI.

Below are four characteristics to include in your strategic plan to create a path to success in your medical device development. 

1. Pay attention to SWAPc. All medtech innovations face SWAPc challenges related to device size, weight, power, range of connectivity, and cost. Each represents a potentially competing variable that must be solved with the correct combination of product solutions to balance the larger SWAPc equation. This requires access to a diverse arsenal and expertise  in  wireless applications including WiFi 6, LoRa, Bluetooth, NB-IoT, CAT-M, sensor  technologies  and more. With the right  team who are up-to-date on  compliance, deployent and  manufacturing  issues, it can be done.


2. Prepare for integration. Once the SWAPc equation is complete, the design and engineering teams must also  synchronize the integration of device applications, networks and the specific product use case. If your in-house talent is inexperienced in this area, it will be necessary to bring the expertise of a development partner who knows how to evaluate and  implement  strategic  trade-offs without compromising functionality performance and UX or deviating from stringent security  standards and product  requirements.

3. Take time to learn about the ecosystem. It is true that SWAPc comes first in the execution phase, but once one decides to allocate resources to the "idea" itself, a sophisticated understanding of the product ecosystem is required. 

Your team needs to understand the ways in which a new medical device will be  implemented to create a foundation for the next steps on which all further development rests. The lack of this "x-ray vision" has the potential to create challenges, requiring additional cost and time, that could have been avoided. Do your homework and merge technical expertise so your ultimate medtech innovation  integrates  seamlessly with  ancillary  devices, patient care  practices, and business processes and systems for maximum life and marketability.

4. Embrace DFM and digital twinning.  Design-For-Manufacture DFM) integrates design and manufacturing by critically examining the  limitations  and responsibilities of manufacturing methods and technologies.

This protects product development from “back to the drawing board” scenarios that occur when a design looks flawless on paper but proves cost-prohibitive  once built. DFM also safeguards new product development by determining which parts, components, and materials are easy to acquire, functionally ideal, and cost-effective for a given innovation. 

When bottlenecks appear, DFM teams will need to focus their efforts on removing them by reconfiguring product parameters to accommodate alternative supply chain solutions. Finally, DFM drives innovation and encourages  product differentiation by  foreclosing   options that would otherwise  remain  on the table. 

After this step in the process, we look into digital twinning, which is a path to flexible manufacturing options. This allows companies to scale production according to fluctuations in market demand and to alternate production  between different sites to optimize distribution costs. 

The entire manufacturing and supply chain sector has been rocked by global disruptions with chip shortages disproportionately  affecting  medtech companies.

This has resulted in shortages of parts and components, long lead times, logistical  bottlenecks and  Increased  distribution costs. Yet the industry has never been more invigorated with advancements in healthcare, advancements  in technology, and DFM becoming more important in the process. Build the right team, find the right partners, and thoroughly evaluate  your product touchpoint landscape, and you'll be well on your way to success and substantial rewards.