Welcome to DeviceAlliance’s podcast ‘Medtech Radio’. As we continue to evolve and grow as an industry, it’s more important than ever we’re continuing to develop ourselves while learning from others experiences. In this, we will ensure we’re keeping up with the latest technology advances, marketplace trends and opportunities to learn from others experiences and grow in our own professional endeavors.
Medtech Radio podcast’s focus is to highlight the achievements of local Orange County, CA medical device professionals, giving them a platform to share their knowledge and perspective while providing our listeners with an opportunity to learn from and get to know their local colleagues better.
Dr. Michael Drues: The Consumerization of MedTech | Ep.40
For medical device companies, the consumerization of Medtech represents a new paradigm. In the past, medical devices were more targeted toward healthcare providers and payers – now there is a demand for direct-to-consumer products. People are demanding to have more control over their healthcare and they want the ability to proactively manage it. The connected health and wellness devices market is expected to reach $612 billion by 2024, according to a report by Grand View Research Inc. and the wearable medical device market alone is projected to reach $14.41 billion by 2022, according to Markets&Markets Inc. As Medtech explores opportunities within this business model, this consumerization will forever change how healthcare is delivered and medical device evolve.
In this episode of DeviceAlliance’s Medtech Radio, we speak with the FDA Consultant and President of Vascular Sciences, Dr. Michael Drues. Join us as we discuss the consumerization of Medtech, defining what is a medical device vs. wellness device with respect to regulation, the “essence” of these distinctions, interpretation of words, and one’s ability to defend them in regulation, “Class 0” devices, and wellness devices impact on the evolution of medical devices.
Follow the great work Dr. Dreus is doing at Vascular Sciences.
Connect with Dr. Dreus on LinkedIn
Dr. Dreus’ Book Recommendations:
Words That Works: It’s Not What You Say, It’s What People Hear by Dr. Frank Luntz
Do What You Love, The Money Will Follow: Discovering Your Right Livelihood by Marsha Sinetar
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