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Latest research suggests medical device manufacturers will spend significantly more on electrical and electronic components during 2005. Over a third (36%) plan to spend more in this area and a further 39% will at least match last year's budget. According to the research by the organisers of the Medical Device Technology Exhibition and Conference (MDT), this renewed emphasis reflects the importance of innovation within the sector, and the role electronics plays in the innovation process.
At least 63% of the 150 medical device and in-vitro diagnostic (IVD) manufacturers studied have produced an innovative product or service in the last 12 months, and over half (55%) are planning to increase their R and D spend - with those involved in sterile disposables, drug delivery systems and medical electronic equipment - the most likely innovators.
This R and D spend will be focused on five key areas during the year ahead: 81% will be developing new products for current markets; 60% will be developing products for new markets; 45% want to reduce the time it takes to get a new product to market; over half want to improve the quality/performance of their existing ranges; and 71% want to reduce costs.
Electronics specialist suppliers will be crucial to the delivery of these plans.
For instance, 61% of the medical and IVD manufacturers studied said they would like more innovation in electronic components and 43% will be buying electrical and electronic components over the next 12 months.
As a result over 81% of medical device manufacturers are looking for new suppliers.
The Medical Device Technology 2005 Exhibition and Conference (16th-17th February at Birmingham's NEC) will provide the perfect opportunity for medical device and in-vitro diagnostic manufacturers to meet electronics specialist firms.
The exhibition will showcase a myriad of suppliers while the conference will feature latest thinking on materials and design, design and manufacturing, nanotechnology, risk management plus regulation - including a spotlight on the FDA.
Visitors who preregister online for MDT 2005 will gain free entry to the exhibition and will also be able to visit its colocated shows: 3C (Contamination Control and Cleanroom Products), Electronic Information Displays, Industrial Networks, IPOT (Image Processing and Optical Technology), Machine Vision, Machine Building, MTEC (Sensors, Measurement and Instrumentation) and Practical Vacuum.
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