As any company in the medical device industry knows, one of the biggest challenges in the time it takes to move from concept through to market. Depending on the type of device and the systems involved, this averages about three to seven years, and the average cost incurred by the company will be $31 million for simple devices and triple that at up to $90 million or more for devices that include technology.
The medical device design stage of the process is critical to streamlining the following prototyping, testing, and approval stages. Delays or challenges in the design stage can significantly impact the time to market as well as the cost.
There are some strategies that medical device companies can utilize to help to reduce the risk of any delays during the design, prototyping and production phases. Incorporating these strategies is a key component with success contract manufacturing and medical device design services.
Using an Established, Experienced Service
When companies offer both medical device design and production capabilities and have experience in working within the specific requirements for these projects, the OEM benefits. The expertise, experience and problem-solving capacity built into the engineering and design team specific to medical devices are invaluable to avoid both simple and more complex problems in the process.
In many cases, the OEM has an in-house design and engineering team, so the contract manufacturing services are required for a specific area of expertise or for concerns about design efficiency or performance.
There is also the ability to move from the design to the prototyping phase with ease. By using the same contract manufacturing service for all aspects of the project, full commitment to quality control, confidentiality, and precision work is never a concern for the OEM as is often the problem when using multiple outsourced providers.
