Getty Images
Developing entirely new medical devices is costly and time-consuming, requiring testing, certification, and regulatory compliance, often taking four to five years. Medical device obsolescence can result from factors like outdated firmware, component scarcity, or unavailability during chip shortages. A recent Med-Tech Innovation article discussed the challenge of obsolescence in the medical device industry and how companies, especially SMEs, are addressing these challenges to extend the lifespan of their products.
