by Genesis Plastics Welding Marketing Team Genesis Plastics Welding Marketing Team

[In the News] IMDMC Elects Officers

The Indiana Medical Device Manufacturers Council (IMDMC) has elected four to serve as officers on the Executive Board.

Tom Barnett, Director of Government Affairs for Roche Diagnostics, will serve as Board President. Barnett joined Roche Diagnostics in 2000. Previously he had held various roles in marketing and governmental affairs, including leadership positions at Bristol-Myers Squibb.  

“The medical devices sector is one of Indiana’s largest and most valuable economic assets representing more than 150 companies and employing more than 20,000 people. I look forward to leading IMDMC as we continue to do good work serving as an advocate, connector, and resource for Indiana’s medical device companies,” said Barnett. 

Other officers elected are as follows: Tom Ryder, President and CEO for Genesis Plastics Welding, will serve as Vice President; Troy Linder, Chief Financial Officer for Fort Wayne Metals, will serve as Treasurer; and Anne Hathaway, Executive Director for IMDMC, will serve as Secretary. 

The organization works to promote, educate, and advocate for Indiana’s medical device industry to advance the performance of our member firms and to cultivate a business environment in which member companies can flourish. IMDMC member companies produce the medical devices, diagnostic products and health information systems that are transforming patient care and patient safety. IMDMC members range from the largest to the smallest medical device innovators and companies. For more information, visit www.imdmc.org.

by Genesis Plastics Welding Marketing Team Genesis Plastics Welding Marketing Team

Market Shift: Medical Device Manufacturing 2020 Themes

Across all industries, 2020 has been a year of massive adaptation and reprioritization. For some fast-acting medical device manufacturers, it’s also been a season of big leaps forward. Let’s explore medical device manufacturing 2020 themes.

Medical Device Manufacturing 2020 Themes

We’ve digested a stack of 2020 market analyses and media coverage to pinpoint trends that transformed medical device manufacturing in recent months. None should come as a surprise, though that doesn’t diminish their impact — now or in the future.

In this post, we highlight 4 shifts that have changed our industry for good.

Digital acceleration

Starting with the obvious, the COVID-19 pandemic has fast-forwarded the adoption of digital health and virtual care by at least three years, reports Fierce Healthcare. Digitization efforts don’t stop there, though. 

Every aspect of selling, managing and servicing medical devices calls for greater digitization these days, from digital product demos to increased digital media buys, remote patient/clinician support.

One example of enhanced digitization are smartphone-connected pacemaker devices. Traditionally, remote monitoring for such devices entailed a bed-side console transmitting data to a physician. “Though millions of patients have pacemakers and defibrillators, many lack a basic understanding of the device or how it functions and adherence to remote monitoring has been suboptimal,” write experts at the Cleveland Clinic. By contrast, “Bluetooth-enabled pacemaker devices can remedy these issues of disconnection between patients and their cardiac treatment,” they explain. 

Drop in elective medical procedures

With patients canceling or postponing elective medical procedures, medical device buyers have deprioritized equipment that’s not useful in COVID-19 treatment, reports McKinsey. “Emergency visits are also down by half or more, and admissions unrelated to COVID-19 follow similar or even accelerated declines,” adds McKinsey. 

Like clinicians, medtech teams have had to redirect their attention to immediate crisis response: keeping employees safe, ensuring business continuity, and adapting to changes in the healthcare ecosystem. 

That brings us to the next point…

Increased demand for diagnostic tests, PPE, ventilators, single-use devices

While demand for many medical devices slowed to a crawl, demand rose for ventilators, personal protective gear and diagnostic tests. 

Demand was such that medtech firms saw competition from outside the industry as automakers and other manufacturers raced to make ventilators and personal protective gear. (General Motors and Ford delivered 80,000 ventilators to the U.S. government.)

In our own work, we’ve helped meet demand for new solutions to respiratory distress (e.g. hyperbaric oxygen hoods) and single-use devices (e.g. shaker and cell culture bags). 

Supply chain gets creative

Fewer resources and shorter development timelines mean you have to get creative. To make that possible, medical device manufacturers outsourced functions and joined forces with other market leaders.

“In addition to the extraordinary measures underway to rapidly ramp up manufacturing capacity and capabilities, medtech leaders are also looking outside their normal sector boundaries to explore creative solutions to further supplement capacity, such as partnerships with companies outside the sector, open-source equipment design, and deployment of medically trained employees to support public-health needs,” writes McKinsey.

Large and small OEMs have long sought third-party relationships to increase capacity, versatility and speed to market. (We wrote about why that makes good business and financial sense here.)

Up next

In 2021, medtech leaders can expect to see magnified versions of these trends, including greater connectivity across product lifecycles, revamps of the supply chain and go-to-market strategies. It will be tough to go it alone, and strategic partnerships will emerge as a way to plug gaps, enable speed and scalability. (Stay tuned for our 2021 Market Outlook!)

 

Two underlying principles you can rely on: greater emphasis on user experience and fast action. Tomorrow’s market belongs to medtech leaders who will seize the moment and act quickly to meet emerging demands.

by Genesis Plastics Welding Marketing Team Genesis Plastics Welding Marketing Team

One-On-One Virtual Trade Show Experience

Projects don’t stop, production marches on and medical device innovation continues to be needed, now more than ever. With in-person trade shows absent, how do medical device teams continue to network, innovate and fill the collaborative void?

Complimentary expert guidance for your biggest device dilemmas

COVID-19 has certainly made this year challenging. With postponed trade shows across the globe, our team has been thinking outside the box in regards to annual events, collaboration and continuing to fuel innovation within our industry. We’ve pivoted and embraced virtual meetings all year long. Now we are taking that one step further and expanding to offer a personalized virtual one-on-one trade show experience this December to help provide expert guidance for your biggest device dilemmas.

How does it work?

Simple.

First, skip the germs, lines and tacky giveaways. Next, select the appointment timeslot convenient for your schedule. Then, we’ll send a link and you get to ask us anything during your personalized virtual one-on-one trade show experience. Plus, we’ll have product samples for viewing and a virtual tour of our ISO 13485 facility.

We want to hear your team’s pain points

Have a medical device project in its infancy stages and looking for a collaborative design and development or manufacturing partner? Experiencing a hurdle on a current project or generation one product currently in production? Possibly radio frequency process questions? Maybe capacity questions? We’ve got you covered and are ready to answer any and all questions, virtually.

As a collaborative solution provider, our experienced engineering and manufacturing team is well-versed in the manufacture (and assembly) of these in demand medical device products:

  • Fluid, Drainage, Collection, Storage & Feeding Bags
  • Bioprocessing and Cell Culture Bags
  • Surgical Products
  • Temperature Management Devices
  • Infection Prevention Products
  • Respiratory Products and Oxygen Hoods
  • Cryogenic Products

Discuss Your Project Virtually

While nothing can quite replace the in-person interaction of the actual trade show floor, we hope our personalized virtual trade show option can be a welcome substitute as we all navigate the pandemic.

Let’s kick start innovation and your 2021 projects!

We’ve blocked out our calendars for December 1 -3, 2020 9 a.m. – 4 p.m. EST. Click here to email us and snag your spot.

We’re in this together. Now is the time for all of us to be helpers. We’re look forward to continuing to find ways to assist one another to innovate and bring breakthrough medical devices to market.

Related Resources:

by Genesis Plastics Welding Marketing Team Genesis Plastics Welding Marketing Team

Indiana a Hotbed for Life Sciences

Indiana a Hotbed for Life Sciences, Medical Device Development

OEMs looking to strengthen the ROI of their medical devices might benefit from exploring one rising hotbed for life sciences: Indiana. The state’s central location, relatively low cost of doing business, and strong life sciences climate make it a powerful combination that’s fueling demand across the sector, reports BioFutures. But that’s not all.

A few attributes unique to the Indiana market make it particularly attractive to medical device manufacturers. We’ll touch on some of those attributes below.

A data-driven perspective

If health data is king, then Indiana is its throne. The state is home to the nation’s largest health information exchange and the first-of-its-kind 5G Zone, designed to drive testing and development of 5G-enabled technologies.

At the Indiana Connected Health IoT Lab, various sectors (e.g. pharma, manufacturing, insurance, health IT, and more) convene to collaborate on emerging, health IoT technologies. The Regenstrief Institute boasts more than 20 scientists working on numerous health-data-centered initiatives, and the Indiana Data Hub provides a repository of data “available for analysis, collaboration and innovation,” reports BioFutures.

These examples are just a taste of the vast life sciences ecosystem in the state. Altogether, “Indiana has demonstrated a data-driven perspective that others have only recently grasped,” said Euan Cameron, CEO of Cohesion Medical based in Glasgow, Scotland.

A logistics powerhouse

With “Crossroads of America” as its official motto, Indiana is a logistics powerhouse, with nine interstates converging in Indianapolis plus the presence of the second largest FedEx hub in the nation. For OEMs, that adds up to faster, more efficient distribution of products.

Dallas-based Life Science Logistics is among the companies moving to Indiana to take advantage of those efficiencies. “Indiana in general is a great state for distribution, being centrally located to the U.S. population,” said John Blackington, the company’s business development director, to BioFutures. “We can reach about 80% of the population on the ground within a couple of days.”

Heavy investment in research, innovation, talent

Indiana’s heavy investment in research, talent and collaboration in life sciences is apparent in the rapid growth of startups and mid-tier companies in the state.

In 2019, Indiana’s major universities drew record funding for life sciences research, and a record number of Indiana life sciences companies secured venture capital funding, reported BioFutures. The state also continues to attract the attention and investment of organizations beyond the U.S., like the Scottish Life Sciences Association, which partners with Genesis Plastics Welding for medical device manufacturing.

Lifesaving devices Genesis manufactures for brands you’d readily recognize include:

·         Surgical products

·         Wound care products

·         Temperature management products

·         Infection prevention products

·         Oxygen hoods

·         Medical fluid bags
(collection, waste, transfer)

·         Bioprocessing bags

·         Cryogenic storage bags

·         Shaker and rocker bags

“It makes sense that Indiana is home to a large contract services sector,” said Tom Ryder, president and CEO of Genesis Plastics Welding. Tom noted that startups and smaller manufacturers readily see outsourcing advantages, but large manufacturers are increasingly outsourcing functions as well.

Aleks Davis, CEO of B2S Life Sciences, added yet another advantage to working with drug and medical device development contract services in Indiana: It’s considerably “less expensive than places like Cambridge, San Diego and San Francisco.”

“We have seen first-hand how our innovations are changing the lives of patients here and around the globe,” shared Kristin Jones, president and CEO of the Indiana Health Industry Forum. “Whether your company is well established or just entering the market, Indiana offers a collaborative, supportive, interactive and dynamic community that operates at the highest international standards and capacities. We hope to work with you soon!”

Explore Genesis Plastics Welding’s medical device development division – MedTech Launch.

by Genesis Plastics Welding Marketing Team Genesis Plastics Welding Marketing Team

Meeting Hyperbaric Oxygen Hoods Rising Demand

For 25 years, Genesis Plastics Welding has made hyperbaric oxygen hoods, designed to help patients recover from respiratory distress and avoid risks associated with other devices. We are proud to be leveraging our experience to meet rising market demand amid the Cornovirus (COVID-19) pandemic worldwide.

Need for Hyperbaric Oxygen Hoods

As respiratory illnesses rise, so does the demand for high-impact, low-cost, non-invasive ventilation. Oxygen hoods are plastic, oxygen-filled domes that fit like a helmet around a patient’s head.

How effective are they, really?

UChicago Medicine, a health system affiliated with the University of Chicago, reports a couple of studies that followed critically ill patients requiring mechanical breathing assistance. Patients were randomly assigned oxygen hoods or standard face masks. Read more