To significantly improve the quality of patients’ lives, innovative medical devices frequently bring disruptive changes to the market. The development cycle of a cutting-edge medical product can take anywhere from 3 to 7 years to get to the point of potential commercialization.

 

According to the data, 90% of new businesses fail within the first five years. Going on, 75% of startups for medical device companies never reach the market. What causes the 25% of people to succeed, then, is the actual mystery.

 

Medical Device Success:

A study by MDPI discovered numerous variables that have a significant impact on a medical device company’s performance. The most crucial qualities for a highly skilled workforce were technical skills. Yet, elements like marketing expertise, market research, product competitiveness, and growth potential came after the technical skill set. All these factors can be categorised as indicators of the market’s actual need for the goods.

 

Your ability to complete the development life cycle quickly and enter the market is crucial because it could have an impact on the demand for your product. The marketability of a cutting-edge medical equipment may be increasingly impacted over time by competition, cyclical tendencies, and economic conditions. This takes us to the realisation that market demands and healthcare trends have a significant impact on the potential of medical device start-ups.

 

List of Medical Device Startups:

You’ll find 10 outstanding medical device startups on this list, all of them are at various stages of development.

 

Synchron – Brain Computer Interface:

It creates a fully implantable brain-computer to help paralysed persons regain their functional freedom. The implanted brain interface enables patients to do daily tasks and improve communication without requiring open brain surgery.

 

BiVacor – Durable Artificial Heart:

A long-lasting artificial human heart being developed by BiVacor should last for more than ten years. The lengthy lifespan of the novel medical equipment is made possible by active magnetic levitation and the usage of just one moving part. In contrast to other products on the market, the BiVacor artificial heart functions using a rotating pump rather than mechanical valves and membranes that flex.

 

TytoCare – Diagnostics at Home:

You can avoid the waiting room by using TytoCare, a medical device. The device gathers information about your symptoms and, using that information, advises and schedules medical exams. The findings of these tests are then sent to your doctor, who may propose a course of therapy or write a prescription.

 

InsighTec – Incisionless Operations:

For image-guided acoustic surgery, Insightec creates focused ultrasound devices. These products are intended to replace conventional surgery. Without cutting into the body, high intensity focused ultrasound can generate enough heat to target and impact internal tissue. This enables the surgeon to avoid using a scalpel in favour of a computer station and mouse.

 

ReperioHealth – Diagnostics at Home:

You can keep track of your health with the help of Reperio Health’s FDA-approved health test kit. The health kit performs checks on vital biometric indicators like blood pressure, cholesterol, resting heart rate, and more. It is a diagnostic instrument that enables you to carry out easy health tests at home and, based on the results, suggests a doctor appointment.

 

LegWorks:

It is a medical device firm that makes high-quality artificial knees that are also reasonably priced available to everyone. 90% of amputees in underdeveloped nations lack access to prosthetic devices, according to LegWorks. At the age of 18, CEO Brandon Burke lost his leg above the knee. He wanted to provide the world with a variety of functional and realistic knee solutions.

 

ComeBack Mobility:

Ukraine-based ComeBack Mobility aspires to make it simple for patient care teams to keep track of the development of the complete recovery procedure following a leg injury. Their Smart Crutch Tips track the amount of pressure a patient applies to their leg when using crutches. The crutch tips instantly alert the patient if they have too much weight on one leg, allowing them to make necessary adjustments. Patients can follow their development in weight bearing by using an app that is compatible with the crutch tips.

 

Proov:

Dr. Amy Beckley created Proov’s rapid response progesterone test strips as a result of her three years of infertility, two IVF cycles, and seven miscarriages. In order to help other women, detect their progesterone levels and prevent the problems and protracted diagnosis procedure she went through, she discovered that her fertility challenges were caused by low progesterone. As a result, she developed these test strips.

 

Senzo:

An amplified lateral flow (ALF) fast antigen self-test for COVID-19 with 100% accuracy is being developed by Senzo, a startup in the UK. In the future, Senzo intends to apply the ALF system to other testing requirements so that people all over the world can benefit from the accuracy of self-testing that was previously only found in laboratories.

 

Polycarbin:

Syringes, DNA extraction kits, and other tools used in the life sciences all involve the usage of plastic. According to Polycarbin, which seeks to stop the production of approximately 12 billion pounds of scientific plastic garbage annually, this is the case. The company offers techniques to recycle plastic waste and aids laboratories in lowering carbon emissions. Its mobile app offers data on waste reduction, allows users to schedule recycling pickup, and more.

 

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