According to GlobalData’s products database, there are more than 19,000 active medical devices currently in the pipeline, with approximately 10% of these devices in the early stages of development. Each year large numbers of medical devices are developed, but only a few make it to the market.
Medical devices are subject to numerous laws, regulations, standards, and certification processes throughout every step of their development and production. Increasingly, medical device companies are buckling under market pressure when it comes to balancing quality with compliance, due largely in part to the ever-changing regulatory landscape.
