It is easy to take for granted the role medtech plays in our everyday lives. From heart valves, imaging equipment, and pacemakers to continuous glucose monitors, we rely on these technologies to detect, treat, and cure illnesses and injuries of all kinds. But to get these products to patients, medtech companies must first embark on a lengthy, costly process of research and development (R&D) that requires a significant investment of time and resources and exposes companies to uncertainty and risk. R&D represents a major, necessary expense medtech companies must make in order to develop novel, safe, and effective products for patients.
Over the years at AdvaMed, the MedTech Association, I have seen up close the profound impact that is possible when companies navigate the complex R&D process and get their life-saving technology to market. Our industry, including the small and emerging growth companies driving innovation, has contributed to increased life expectancy, reduced fatalities from heart disease and stroke, and been on the cutting edge of cancer detection and treatment, among many other patient successes over the decades.
Read the full op-ed at RealClearPolicy.