Medical devices and diagnostics companies have historically been "the Rodney Dangerfields" of the life science industry, never getting the same respect and buzz as their biotech and pharmaceutical cousins, niche pub
Life Science Leader writes in its November issue.
New innovations in software and nanotechnology may be changing that perception, though, according to Medtronic's senior vice president for medicine and technology, Stephen Oesterle. In a Q&A with the magazine, Oesterle explains the shift in thinking he's observing:
"I believe many people previously viewed medical devices as appliances, not innovative medical products. I think the notion that devices are not innovative is beginning to change. This is because devices offer a unique opportunity to incorporate nanotechnology, information technology, biotechnology, or the controlled delivery of drugs and biologics into a single product. People are beginning to realize this, and that is why interest in devices has exploded in recent years. Good examples of innovation taking place in the devices industry include targeted, controlled delivery of monoclonal antibodies and stem cells, MEMS (microelectromechanical systems) implants, and drug-coated stents."
Read the full Q&A over at Life Science Leader.