August was another busy month for the MedTech Industry. From the discussion on medical device taxes to the prospect of 3D printing transforming the healthcare industry, the month was filled with lots of important discussions within the industry. Here is a quick recap of what you missed in the Medical Device Industry in August:
Earlier in the year, Congress made a decision to suspend the medical device tax for two years. But, some think this temporary decision should become a permanent one where the tax is eliminated altogether. The device tax is applied to products associated with specific behaviors. It is also particularly bad for patients because it acts as a headwind against innovation, leaving companies with less resources to reinvest.
A new study has showed the disruptive impact 3D printing technologies are having on European healthcare systems. The research showed that 68% of healthcare professionals think these technologies have the potential to transform the health sector. According to the research, 74% of healthcare experts are now using new 3D printing technologies to improve diagnostic rates and lower mortality rates.
Treatments for chronic diseases are becoming more complex and healthcare professionals are using these 3D printed technologies to tailor materials according to the differing needs of patients.
In a recent conference, 3D printing was described as the digital revolution, a game-changer, and as a disruptive innovation. The conference covered several themes on important factors for medical device companies utilizing 3D printing and those who are considering venturing into it. Some of the topics covered were 3D printing standards and test methods, regulatory, and product liability.