Over the past two decades, 3-D printing has grown from a niche technology to a multibillion-dollar industry. The manufacturing process was developed in the 1980s as a way to produce small volumes of scale models but has since expanded to include the manufacturing of medical devices and implants for surgical and clinical use. The process, also known as additive manufacturing, uses computer models to build three-dimensional objects by printing materials like plastic, polymers, metals and powders in layers.
Companies like Kalamazoo, MI-based Stryker and Minneapolis-based Medtronic are cashing in on the technology to create innovative orthopedic and cardiovascular products, while other operations like San Diego-based Organovo are churning out 3-D printed organs and tissue that could be used in implants and clinical testing. But implants and organs are only part of the 3-D printing equation, as "bioprinting" also holds sizable potential in the field of medical diagnostics and drug testing.
It was the best of times and the worst of times for med tech CEOs in 2013. Medical device outfits faced a chilly regulatory climate, with product approvals reaching a new low and the 2.3% device tax threatening to damage each company's bottom line. As a result, sales and R&D took a substantial hit--and CEOs responded with a new plan of attack. With industry veterans at the helm of each company, med tech outfits managed to outrun nagging legal woes, win critical devices approvals, generate M&A--and in some cases, post a profit.
Here's the breakdown of what med tech CEOs took home in 2013. And as always, feel free to contact us with any comments or questions.
The top med tech R&D spenders invested more than $10.5 billion on innovation in 2013, up by about $200 million from 2012. The list stayed largely unchanged, reflecting the continued dominance of a few big players, but M&A activity promises to vault some companies up the ranks next year or push others into the top 10.
GE Healthcare is the only new addition to the list, but only because the company told FierceMedicalDevices that its healthcare R&D budget was $1 billion in 2013, although the figure is not stated in its annual report. The new addition kicked Covidien off the latest list.
The top R&D spenders in med tech invested between 6% and 12% of their device sales back into med tech R&D. From dental products to diagnostics to laboratory equipment, cardiology, imaging and orthopedics, the list reflects the variety of businesses in the med tech arena.
POPULAR COMMENT THREADS
Google isn't just searching the Internet. The company will soon search the insides of people's bodies for new biomarkers by collecting their urine, blood, saliva and tears as part of its Baseline Study initiative.
Nobel Biocare has confirmed it is in early discussions with potential buyers, after a Bloomberg article reported a rumored sale. The report said the company has hired Goldman Sachs to broker a transaction.
Medical and surgical supplier Owens & Minor is getting squeezed by unexpectedly low margins on higher-than-expected revenues as its healthcare customer base consolidates.
With the rise of high-potential mobile health (mHealth) devices and apps, the FDA needs to add funding and tools towards regulation of the rapidly expanding industry, research experts wrote in the New England Journal of Medicine. While most mHealth devices have relatively low risk, monitoring devices that can affect core health is within FDA jurisdiction and authority.
In one of the largest venture capital financing of the year, Proteus Digital Health announced it raised $172 million in a Series G funding round from undisclosed institutional investors after completing a second closing.
French devicemaker EDAP TMS SA is facing FDA scrutiny for its robotic device for prostate cancer, as regulators questioned the product's safety and efficacy in a new report.
From Our Sister Sites
After Sarepta Therapeutics' former head scientist blamed his swift ouster on "serious disagreements" with CEO Chris Garabedian, the company has moved to limit its chief executive's power, according to a report, especially when it comes to meetings with the FDA over the biotech's much-scrutinized lead drug.
Bracing for an expensive round of late-stage studies and potential drug launches as it ramps up work on a slate of new biosimilars, Amgen reported Tuesday evening that it plans to trim up to 15% of the company's workforce, shutting down facilities in Colorado and Washington state as it slashes up to 2,900 staffers.