Feb. 08, 2017 –
According to the International Trade Association, the United States remains the largest medical device market in the world with a market size of around $148 billion, and it is expected to reach $155 billion by 2017. The U.S. market value represented about 43 percent of the global medical device market in 2015. U.S. exports of medical devices in key product categories identified by the Department of Commerce (DOC) exceeded $44 billion in 2015.
Doing business in the U.S. medical device market was the theme of CALIT2’s third annual International Symposium on Technology for Biomedical Devices held earlier this week. About 80 people attended the event – half of whom represented Asian-based companies – to hear from investment, intellectual property, technology transfer and regulatory experts.
Brent Noblitt, senior partner, Noblitt & Rueland explained the daunting challenges for startups who face U.S. regulatory hurdles. “It’s a lot to take in and navigate,” Noblitt told the audience. “But you can succeed with patience.”
After a brief coffee break, the second half of the day featured a technology company showcase. A dozen medical device startups pitched their business plans, while the experts provided valuable feedback.
“More than 80 percent of medical device companies have fewer than 50 employees, and many have little or no sales revenue,” CALIT2 Director G.P. Li explained. “We organize this international symposium every year to provide productive interactions that help these fledgling companies take off.”
A networking reception concluded the activities.
– Shelly Nazarenus
The event presentations include:
Mike Papac, R&D project head, Alcon
“R&D of Medical Devices”
Brent Noblitt, senior partner, Noblitt & Rueland
“Regulatory Hurdles – Implications for Startups”
Michael Guiliana, partner, Knobbe Martens
“IP Protection of Biomedical Devices on the Global Stage”
Alvin Viray, senior licensing officer, UCI
“Technology Transfer at UCI”
Bill Carpou, CEO, OCTANe
“OCTANe’s Role in the OC Ecosystem”
