2015 was a huge year for the medical technology sector – with record-setting investments totaling $434.9 million invested into 101 companies during the year. The historic high was a continuation of a trend that’s been building for the past few years as more companies seek to come out with the next great innovation in healthcare.
FDA approvals are also hitting a high note as 2015 saw the highest number of FDA approvals for new medical devices in 10 years. The most approvals went to cardiology devices, with 15 approvals out of 51 total; in vitro diagnostics came in at a close second with 12 approvals.
But what does all of this activity mean for the industrial sector overall? Well, it means a lot of new business opportunities. As more devices are conceived and developed, more manufacturers must be contracted to supply necessary materials and develop the parts. From medical grade plastics and silicones, to surgical steel and other materials, each new product will require numerous suppliers and manufacturers to bring it from design to finished product. Even new pharmaceuticals require automated systems to develop the medicine, and then conveying systems to move it through the processing pipeline.
From automated manufacturing cells and material handling stations, to injection molding, metal forming, and extrusions; many different manufacturing processes are involved in the medical device space. More investment in this field means more work for supporting industrial companies.
At TE-CO, we supply workholding equipment that is used in many industries, including the medical space. To learn more about our product offerings, feel free to visit us online.