There is tremendous upside opportunity for generic medical devices. The Medical Device Global market is $156 Billion. There are virtually no generic versions of advanced medical devices.
Many devices may be candidates for the redesigning single use disposables into components which are disposable and other components which can be resterilized and cleaned several times. The partial list of devices which may be converted to reusable disposables include:
- Beating heart stabilizers
- Vein harvest equipment
- Atrial fibrillation
The percent of prescriptions filled by generic drugs
Percent of generic or store brand consumer goods (paper towels, ketchup).
Percentage of advanced medical devices which are generic (excludes syringes, gloves, etc.)
Generic drugs have low cost of goods; the cost is in the R&D process and FDA approval. The cost to manufacture an off-patent medical device may not differ from the cost incurred by the brand manufacturer
Reusable/disposable Technology Untaps a $156 Billion Market
De-coupling inexpensive but hard to clean components from
expensive but easily cleaned
The flexible arm of all stabilizers must be rigid to support the beating heart. This requires expensive materials like engineering thermoplastics and stainless steel which can withstand autoclave sterilization. This is 85% the cost of the stabilizer but can be reused fairly easily
Endoscopic vein harvesting retrieves a saphenous vein from a patient’s leg for bypassing a clogged artery. The vessel sealer must seal and cut vein branches. The sealing mechanism can be decoupled from the handle which has the electronic switches and connectors.