Acorn recently exhibited at the BioMed Conference in San Jose – this is a bi-costal conference where developers, suppliers, and consultants gather to explore trends and discuss challenges in the BioMedical Device industry.
This years conference focused on 2 tracks: Tackling Barriers to Market Entry, and Device & Ecosystem Integration. The conference was well attended with over 300 exhibitors and an estimated 2,500+ attendees. Hot topics at the show were in the areas of connected devices, security around the increasing volume of personal information these connected devices create and have access to and the FDA’s role in these issues. Related to connected devices, there were also discussions around the importance of design and user friendliness for these devices, both wearables and others – this is becoming more important as we move more towards a world where patients have the capability to monitor their own health, and perform their own tests – user friendliness/experience, comfort, and other ergonomic factors are all areas that are critical to the success of these devices.
There was also kind of a yin/yang sense about the economy and the future – from all indications (including ours), the economy continues to grow and be strong. Innovation and investment (particularly in the med device field) continues to grow with most companies (anecdotally) at the show bullish on their business. Revenues are up, as are profits, and many companies are hiring.
But there is some uncertainty around what changes the new administration will bring – while most sectors of the stock market have risen fairly significantly since the election, health care has been more erratic. Markets generally don’t like uncertainty, and with potential changes in things such as the FDA’s role/power from a regulatory perspective, Obamacare, Medicare/Medicaid, providing access to safe/imported drugs(devices?) from overseas, etc., the future is a bit murky. Will the changes make it easier/more efficient to develop products and bring them market? What impact on reimbursements for devices, tests, etc. will there be with any changes? How will investments in health care research be affected?
Fortunately, the uncertainty doesn’t appear to be impacting the pace of innovation – and there are many promising technologies and products that are on the horizon (more on that in a future blog). We remain optimistic about the future – and look forward to the innovations in the coming years.
Responsible for business development and sales in the Western United States, Bill has more than 20 years of experience in the high-tech sector, working for startups and established companies delivering mission critical solutions to his clients. Based at Acorn’s headquarters, he works with the Acorn engineering team to help clients bring their ideas and new products to production. Bill has a B.S. in chemistry from Rutgers and an MBA from Fairleigh Dickenson.