At this year's Medical Design Excellence Awards, evidence of globalisation was strong. Of the 36 award winning products, 12 came from companies based overseas or were the result of an international partnership. Other shared themes in the awards this year, were cost reduction, ease of use and improved user experience.
In January this year, The Economist ran an article, titled “Life should be cheap” on the cost of producing medical devices and the different options available. One area under discussion was the option to use global supply chain techniques and move production offshore.
Whilst there are serious issues of red tape and customer selection, it is certainly interesting to note that firms such as GE Healthcare, Philips and Medtronic are investing heavily in China and India: setting up research centres, hiring local talent and developing frugal inventions of their own.
With so many options, decisions and strategies to develop, expert advice is vital. Triteq can help guide you through each stage of product design and development. We have extensive experience across many different industries and we focus on giving customers expert advice from every angle.