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#2- Why is MedTech moving sluggishly behind all other types of Tech? 3 REASONS to know why
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An exciting look at why MedTech seems to be the slowest type of Tech. Medical devices take a very long time to get market approval (3-12 YEARS!). In today's episode, Rodney covers 3 REASONS that have an impact on MedTech advancement. Discussed in a simple way for all to understand.
Timestamps:
(01:58) Intro
(02:58) 3 Factors List
(03:24) Point 1: The Impact of M&A’s on Research and Development
(03:54) Perato Effect
(05:15) M&A is a popular way of growing in the MedTech Industry
(08:07) Potential impact on smaller companies
(12:21) Point 2: Regulatory Affairs
(15:48) Aerospace Speed
(16:33) Point 3: Human Aspect
(19:38) Medical Ethics Post WW2
Interesting Points to Read on:
- Perato Principle or Mathew Effect
- Impact of Brexit on the UK MedTech Industry
- Cost of Taking a MedTech Device to Market
- Dr Henry Cotton + Unit 731
- Nuremberg Code, Declaration of Helsinki and Oviedo Convention
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