Why medical device companies re-shifting focus towards technology?

It’s really difficult in todays world to build trust on the products that are launching. Products that are new on innovation are launcing day by day but the most difficult part if to reach the people who are going to use it.

What’s happening to Canadian health technology innovations?

For the companies that are manufacturing the medical devices, the biggest and the important payers in the region of Canadian market the authorities of governing provincial, like the Ontario Ministry of Health and Long-Term Care and hospitals. The most surprising part is that every year many companies manufacture medical devices but most of them gets rejected and just some of them gets an approval from the government and thus the result we get in the end is the slow death for advanced technology and thus a huge amount of money and time gets wasted.

Why are so many medical devices not adopted?

The time when you start considering that some of the medical devices have the capability to change the way a disease treated. Whenever people buy any products they not only look for its features by they also look for value for money. In order to gain more profit the companies hire the marketing companies in order to go for medical device marketing.

Today buying a product sometime is way too risky and so people use to avoid buying any thing new specially in the case of any medical devices.

Licensing versus adoption

Another thing which is one of the biggest issue is that the government reject or do not approve any of the new product because they do not match the norms. This is the reason why many new devices either go waste. Government do not give license to the new devices if they breach any norms. In result a huge time and money is wasted. The government also check all the reports of the products, they also check for the working system of the device so that to avoid any loss of life is wrongly used by the consumer.

The government of many countries are so strict that they have a fixed error coefficient, this means the chances of making mistakes while using the device by the consumer. If this comes higher the company reject the product.

Government also ask for the accuracy of the device and if it meets, then only the government approves it.

So in short there are many things that has made the companies to focus more towards technology.

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