The Medical Industry Briefin g
The latest news, approvals and clinical trials you need to know about this month
The US FDA has released more than 6 million previously hidden medical device incident reports, from 1999 through 2019
The implantable medical devices market is forecasted to grow from $96.6bn in 2018 to $143.3bn by 2024
Medtech company Stryker to invest €200m in R&D in Cork, Ireland facilities
Boston Scientific will sell its drug-loadable microsphere and bland embolic bead products to Varian Medical Systems for $90m
The vitreoretinal surgery devices market is expected to expand at a 6.0% CAGR between 2019 and 2029
Crystallised drug formulation extends medical device function
Researchers from MIT have developed a way to embed crystallised immunosuppressant drugs into implantable devices, to eliminate localised immune reactions from medical devices, which can cause device failure.
Source: European Pharmaceutical Review
FDA warns of dangerous cybersecurity hacking risk
The US FDA has warned that a number of connected devices, including insulin pumps from Medtronic MiniMed could be at risk of a cybersecurity breach.
AMA updates recommendations for medical AI usage
The American Medical Association has passed a policy addressing augmented intelligence (not artificial intelligence) which provides recommendations to address stakeholders’ concerns.
Source: American Medical Association
Embracing Emerging Technologies
The US FDA has granted breakthrough device designation for Critical Innovations’ Fast Onset Abdominal Management (F.O.A.M.) device, which is designed to deliver quickly-expanding foam to control severe intra-abdominal bleeding in critical trauma patients, when surgical intervention is not immediately available.
VUNO Med – DeepBrain
South Korea’s Ministry of Food and Drug Safety has approved the dementia diagnosis device VUNO Med – DeepBrain, according to Vuno, the company behind the technology.
German medtech startup CryoTherapeutics has raised €7m to fund the development of its cryotherapy system – a treatment that exposes the body to freezing temperatures – to prevent heart attacks.
The Ireland-based company has developed an AI system to help predict and prevent diabetic foot ulcers. The system performs a daily scan of the patient’s feet and sends the data to the cloud for analysis through advanced algorithms capable of detecting abnormalities.
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