Oct 30, 2022

Are you curious about which medical device trends & startups will soon impact your business? Explore our in-depth industry research on 4 063 medical device startups & scaleups and get data-driven insights into technology-based solutions in our Medical Device Innovation Map! Emerging medical device trends deal with the tackling risk of infections, leveraging health data, and automating manual processes. Medical device manufacturers are using technologies such as artificial intelligence (AI), analytics, robotics, and immersive technologies, among others. These trends improve the efficiency and affordability of medical devices. This report provides an overview of top medical device trends and innovations in 2023. They range from wearables and the internet of medical things (IoMT) to 3D printing and medical waste management. Read more to explore how they impact your business. Innovation Map outlines the Top 10 Medical Device Trends & 20 Promising Startups For this in-depth research on the Top Medical Device Trends & Startups, we analyzed a sample of 4 063 global startups and scaleups. The result of this research is data-driven innovation intelligence that improves strategic decision-making by giving you an overview of emerging technologies & startups in the medical device industry. These insights are derived by working with our Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform , covering 2 500 000+ startups & scaleups globally. As the world’s largest resource for data on emerging companies, the SaaS platform enables you to identify relevant startups, emerging technologies & future industry trends quickly & exhaustively. In the Innovation Map below, you get an overview of the Top 10 Medical Device Trends & Innovations that impact 4 063 companies worldwide. Moreover, the Medical Device Innovation Map reveals 20 hand-picked startups, all working on emerging technologies that advance their field. Top 10 Medical Device Trends Tree Map reveals the Impact of the Top 10 Medical Device Trends Based on the Medical Device Innovation Map, the Tree Map below illustrates the impact of the Top 10 Medical Device Trends. Startups and scaleups are developing wearable and IoMT solutions to acquire health data and enable personalized healthcare. The growing interest in automation drives the adoption of medical robots, AI, and immersive technologies in the medical device sector. Additionally, startups are developing minimally invasive devices to overcome medical procedural challenges and improve patient safety. As the demand for medical devices increases, startups are also leveraging 3D printing for rapid prototyping. Lastly, medical device manufacturers are transitioning to more responsible operations through medical waste management. Click to download Global Startup Heat Map covers 4 063 Medical Device Startups & Scaleups The Global Startup Heat Map below highlights the global distribution of the 4 063 exemplary startups & scaleups that we analyzed for this research. Created through the StartUs Insights Discovery Platform, the Heat Map reveals that the US sees the most startup activity. Below, you get to meet 20 out of these 4 063 promising startups & scaleups as well as the solutions they develop. These 20 startups are hand-picked based on criteria such as founding year, location, funding raised, and more. Depending on your specific needs, your top picks might look entirely different. Click to download 1. Wearables Advances in circuit miniaturization enable companies to develop various wearables such as ECG monitors, biopatches, smart glasses, psychological monitoring devices, etc. They collect data on users’ health and vitals required for better healthcare delivery and improved health control. Moreover, this allows doctors to provide remote treatments while being able to continuously track the patient’s health. Consequently, wearable medical devices enable non-invasive diagnosis and improve prognosis efficiency for medical emergencies. Aidmed develops a Chest-worn Portable Device Polish startup Aidmed develops a chest-worn portable device. The startup’s wearable recorder, Aidmed One, uses biosensors to record physiological parameters like blood pressure, temperature, and electrocardiogram (ECG). It then uses AI to turn these data into actionable insights into patient conditions. Gate Science offers a Pain-controlling Wearable US-based startup Gate Science offers a pain-controlling wearable device. The startup’s product, RELAY, combines pharmacologic blockade and neuromodulation capabilities in a single multimodal device. Further, Gate Science’s companion app allows patients to control these signaling mechanisms. The startup’s solution offers doctors and patients an alternative to post-surgery pain-killing narcotics. 2. Medical Robots Medical robots are replacing conventional surgery methods for better targeting and patient safety. For example, robot-assisted laparoscopic surgeries ensure that patients undergo smaller incisions, reduced blood loss, and recover faster. On the other hand, surgeons benefit from improved ergonomics and dexterity in comparison in comparison to traditional laparoscopy. Hospitals and clinics now also deploy disinfecting robots, allowing health providers to focus on patient engagement. Lastly, microbots and nanobots to achieve target-based treatments. Indian startup Punar provides a Portable Robotic Exoskeleton Indian startup Punar provides a portable robotic exoskeleton. The startup’s hand muscle training device, Nucleus, uses proprioceptive neuromuscular facilitation (PNF) reflex stretching techniques to train the paralyzed hands of stroke patients. It also obtains quantitative feedback on patient recovery. This accelerates the rehabilitation process. Theranautilus provides Oral Healthcare Nanobots Indian startup Theranautilus provides oral healthcare nanobots. The startup’s magnetic bots, BIO BOTS, feature lacings of bioactive components that are capable of reaching the dentinal tissues. It permanently treats tooth hypersensitivity and promotes tooth regeneration. Dentists leverage the startup’s bots to automate intelligent targeting of drugs for oral diseases. 3. Immersive Technologies Advances in medical devices produce images and videos with greater resolution, but they are still static. Immersive technologies overcome this limitation and provide a first-person perspective. Startups are leveraging virtual reality (VR), augmented reality (AR), and extended reality (XR) in medical device manufacturing to improve product design. These technologies also improve the quality of care delivery while improving rehabilitation and engagement. For physicians, immersive technologies provide better decision support. Orcana enables AR-based X-ray Vision US-based startup Orcana enables AR-based x-ray vision for surgeries. The startup’s solution, Multi-user Augmented Reality System (MARS), allows surgeons to look at images without taking their eyes off the patient. It also ensures hand-eye coordination to accurately guide instruments and implants. Further, the technology also enables remote training and technique guidance of specialty surgeons. Xenon-VR provides VR-based Ophthalmological Device US-based startup Xenon-VR provides VR-based ophthalmological devices. The startup’s wearable, Xenon-1, performs ophthalmological examinations such as eye-tracking and refractive correction. The headset allows doctors to continuously monitor patient eye positions. Additionally, the startup’s AI-powered platform enables doctors to remotely examine their patients. 4. 3D Printing 3D printing or additive manufacturing provides an opportunity to better integrate anatomical and pathological structures in the design of medical devices. For instance, this enhances the fit of implants to body parts. Additive manufacturing also presents better scaffolds for pre-surgical planning and training. On the other hand, it enables the patient-specific and cost-efficient production of medical devices. Further, rapid prototyping makes it possible for manufacturers to create medical devices at high speed, closing the demand-supply gap. VisionAir Solutions creates 3D-printed Silicone Stents US-based startup VisionAir Solutions creates 3D-printed silicone stents. The startup’s production process combines 3D printing with traditional medical-grade silicone injection. The startup’s stents help patients with central airway obstructions to breathe easier. Its cloud-based platform enables treating pulmonologists to design these stents specific to each patient. Spectroplast manufactures 3D-printed Biocompatible Devices Swiss startup Spectroplast offers silicon-based biocompatible devices. The startup’s 3D printing technology enables the direct fabrication of pure silicones without the use of molds. Medical device manufacturers leverage this silicon additive manufacturing (SAM) technology to save costs and develop on-demand production capabilities. It facilitates the production of anatomical devices, implants, and orthotics among other devices. 5. Internet of Medical Things The IoMT refers to a network of connected medical devices for the transmission and analysis of health data. In-home IoMT devices allow patients to share their medical data with their primary care providers or hospitals. On-body IoMT uses wearables to track vital data. Hospitals also use connected wearables and devices to monitor patient movements and obtain their vitals. Its benefits include more accurate diagnoses and cost-effective care. Orbicor Technologies offers a Cardiovascular Management Platform Costa Rican startup Orbicor Technologies builds UnnoMed, a cardiovascular management platform. The platform provides differentiated clinical data using IoMT medical devices. This data is complementary to what is already available to cardiovascular patients and enables ongoing control and optimizes the treatment of their conditions. This way, the platform supports healthcare providers to detect the early stage and evolution of cardiovascular diseases (CVD). EloCare creates a Connected Menopause Care Device Singaporean startup EloCare develops a connected menopause care device. The startup’s wearable, Elo, continuously monitors symptoms and collects data on health parameters. Clinicians utilize the data to create personalized health profiles. This improves the delivery of lifestyle or medical intervention for women undergoing menopause. Looking for specific medical device startups & technologies? 6. Artificial Intelligence Artificial intelligence improves the processing and analysis of large amounts of data that medical devices gather. With patient-specific health data, companies use AI to identify diseases or the onset of medical conditions. Further, AI enables predictive analysis and monitors treatment efficiency. Medical device manufacturers are also integrating AI technologies like computer vision to accelerate diagnosis and enable robotic surgery. AI also finds application in automating and optimizing production workflows. Nightingale provides a Smart Wristband Taiwanese startup Nightingale offers an infection prediction smart wristband. The AI-enabled wearable device, HEARThermo, continuously monitors the changes in body temperature and heart rate. HEARThermo’s AI generates an analysis report that allows healthcare providers to predict infections. This allows public health workers to monitor suspected cases during an infectious outbreak. PneumoWave develops a Smart Biosensor UK-based startup PneumoWave devises a chest-worn smart biosensor. The biosensor captures respiratory data and the startup’s platform analyses it using machine learning algorithms. This improves the monitoring of chronic obstructive pulmonary disease (COPD). It detects early signs of deterioration and notifies the patients and physicians. This allows rapid treatment and reduces or shortens hospital admissions. 7. Cybersecurity Healthcare facilities are one of the primary targets of malicious hackers. Moreover, the adoption of cloud-based and connected medical devices makes the industry more vulnerable to cyberattacks. Thus, startups offer cybersecurity solutions tailored for medical devices. These solutions allow manufacturers, hospitals, and patients to promptly identify any network or device anomalies and mitigate risk. By protecting medical devices from deliberate malfunctioning, cybersecurity solutions prevent threats to patient lives. Culinda simplifies Medical Device Security Management US-based startup Culinda offers end-to-end medical device security management. It uses AI to prevent medical devices from cyberattacks by enabling real-time defenses. Further, the startup uses blockchain to provide continuous access to device information such as communication sources, device inventory mapping, etc. Culinda’s solution allows hospitals to securely manage all medical assets. Scope Security delivers Predictive Security Analytics US-based startup Scope Security provides cloud-native predictive security analytics. The startup’s platform, Scope OmniSight, leverages AI to process logs from thousands of systems to find anomalies. As a result, it prioritizes the threat across the enterprise. This allows hospitals to automate attack detection and response against all IT systems, medical devices, and electronic health record (EHR) environments. 8. Minimally Invasive Devices Minimally invasive surgery tackles the challenges of invasive surgery such as infection risks, large scars, and slower recovery rates. New techniques and devices allow surgeons to make smaller incisions across procedures such as endoscopy, laparoscopy, and robot-assisted surgeries. Startups are integrating miniaturized sensors in the tips of the devices that provide feedback to the operating physician, such as with haptic vibrations. Moreover, minimally invasive devices reduce patient trauma and discomfort, infections, recovery times, and healthcare costs. ReGelTec makes an Injectable Hydrogel Device US-based startup ReGelTec develops injectable hydrogel devices. The startup’s system, Hydrafil, uses hydrogel technology to inject an implant for nucleus pulposus augmentation as a viscous fluid. The liquid then converts into a solid cohesive hydrogel within the disc annulus, thereby effectively sealing the site and minimizing expulsion risks. Physicians leverage this minimally invasive system to develop spinal implants for chronic back pain patients. Exubrion Therapeutics develops a Minimally Invasive Veterinary Device Exubrion Therapeutics is a US-based startup that provides Synovetin OA, a minimally invasive veterinary device. It consists of microparticles of tin radionuclide. The doctors inject these particles into the joints where they deactivate the inflammatory macrophages and treat synovitis without producing any side effects. This way, it enables veterinary doctors to provide targeted therapy for osteoarthritis. 9. Medical Waste Management The increase in the use of medical devices and accessories leads to a growing waste problem. Manufacturers are playing a large role in the disposal of medical devices. For example, startups are manufacturing high-quality materials such as recyclable electronics for use in biomedical applications. Other solutions monitor medical waste and identify processes to recycle or reuse medical devices. FLEEP Technologies creates Recyclable Biopatches Italian startup FLEEP Technologies offers recyclable biopatches. The startup’s platform uses plastic films and carbon-based inks to develop these electronic patches that are thinner than a human hair. As a result, they are easily recyclable and do not contribute to medical waste. Polycarbin offers a Medical Waste Management Platform US-based startup Polycarbin offers a medical waste management platform. It enables medical and life science laboratories to sort rigid plastics into clear and non-clear streams. The startup also offers a mobile app that allows users to request pick-ups as well as track the recycling process. Polycarbin’s solution allows laboratories to send their end-of-life plastics for remanufacturing low-carbon lab products. 10. 5G 5G technology is key to efficiently incorporating high-speed communication between medical devices and health infrastructure. For instance, low network latency during AR-assisted surgeries improves surgery quality. That is why medical device manufacturers are leveraging 5G for their connected products. Its greater bandwidth and reliability ensure minimal lag between data collection and processing additionally, it allows doctors to convert images into holograms in real time for more accurate diagnosis. Spline makes a 5G-enabled Healthcare Platform Indian startup Spline offers Dr. Spline, an integrated healthcare platform. It combines 5G and AI to provide a conversational user interface, predictive image and video analytics, and data security for any medical device. The platform connects the entire healthcare ecosystem and provides quick and easy access to solutions like AR-based surgical training. M2JN provides a 5G-connected Medical Patch UK-based startup M2JN develops a 5G-connected medical patch. The startup’s wearable, WarnerPatch, remotely monitors vascular conditions by sensing regional soft tissue health. With 5G connectivity, the startup’s platform obtains the data from these patches continuously in real time while sending symptom reminders. This enables clinicians to track vascular diseases such as diabetic wounds and post-surgical repairs. Discover all Medical Device Trends, Technologies & Startups The principal focus of the medical device industry is to improve the health of the patient in a cost-effective manner. Thus, AI and robotics along with wearables will continue to grow for improved healthcare delivery. The growth of the healthcare service sector will also accelerate software as a medical service (SaMD). With the increase in remote treatment capabilities and immersive technologies, the R&D of mental health rehabilitation devices would be at the forefront. The Medical Device Trends & Startups outlined in this report only scratch the surface of trends that we identified during our data-driven innovation and startup scouting process. Among others, extended reality, blockchain, and nanobots will transform the sector as we know it today. Identifying new opportunities and emerging technologies to implement into your business goes a long way in gaining a competitive advantage. Get in touch to easily and exhaustively scout startups, technologies & trends that matter to you!