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Med Device Market Shifting Business Models to Automation and Technology

Four out of five medical device companies interviewed for a new PMMI white paper believe automation and other technological advances are one of the biggest changes to manufacturing in recent years.

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According to “Pharmaceutical & Medical Devices | Trends & Opportunities in Packaging Operations,” medical device companies are streamlining processes and adding more flexible solutions to their operations - with a continued focus on ROI, cutting costs, reducing waste, and investing in machinery that can meet several needs at the same time.

Connecting with customers and patients through a variety of different services and technologies has reinvented how the medical device market operates, while also giving some companies a competitive advantage in the market. 

New technologies are creating efficiencies throughout the supply chain, and technologies such as wearables, smart devices, IoT, and cloud-based analytics are all becoming more widely used in the industry, requiring medical device companies to adapt.  Said one Director of Packaging Engineering, “We continue to invest in capital, plus we see growth in our business. We hit thresholds where automation has good ROI and challenges the industry.”


Read: Counting Down the Top 10 Articles of 2020 - #6: Nurses Reveal Their Packaging Pain Points


According to the report, competitive technology advantages in the US include:

·     Microelectronics (very small electronic designs and components, typically made from semiconductor materials)

·      Telecommunications

·      Instrumentation

·      Biotechnology (genetic manipulation of microorganisms for the production of vaccines, antibiotics, hormones, etc.)

·      IoT (network of physical objects that are embedded with sensors, software, and other technologies to connect and exchange data with other devices and systems over the Internet)

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Break out of the ordinary: see what’s new in life sciences packaging
Medical Device Innovations Report
Cutting-edge packaging technologies are transforming the medical device sector in PMMI’s “Innovation in Medical Device” report, featuring advanced materials, smart solutions, and evolving regulations. Editors share insights from nearly 300 PACK EXPO booth visits—each product deemed new and truly innovative—alongside video demonstrations of the equipment and materials on display.
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Medical Device Innovations Report