Medical Devices and Equipment
The Medical Technology Market is growing at an accelerating rate, having expanded more than 10% since the beginning of the COVID-19 pandemic. Total revenue is set to reach US$575 billion by 2023 and US$750 billion by 2027. With the world’s national healthcare system’s increasing dependence on high-tech solutions, the Medical Devices and Equipment (MD&E) industry is especially increasing its market share.
Five MD&E trends to watch:
- Heightened focus on cybersecurity as national healthcare systems become increasingly dependent on IT systems.
- Continued digitalization of medical infrastructure and hospital equipment is furthering Internet of Medical Things (IoMT) and Software as a Medical Device (SaMD) concept implementations.
- Virtual reality, AI, and Machine Learning are being increasingly incorporated into novel medical instruments, services, and techniques.
- Medical Robotics is gaining relevance in the fields of assisted living and physiotherapy and helping to alleviate the global nursing shortage.
- 3D-Printing applications are being incorporated into various medical fields, helping to alleviate supply chain disruptions, and enabling the use of custom-printed prosthetics and implants.
With technological innovations at the forefront of the MD&E industry, new and existing medical device manufacturers need to ensure flexibility and efficiency in their production efforts. Being one of the most highly regulated markets on the planet, regulatory compliance remains another key priority for new and existing producers.
Achieve end-to-end traceability with MRPeasy
MRPeasy is a manufacturing ERP system that accommodates the complex requirements of small and medium manufacturers active in the MD&E industry. The system is perfect for both discrete and process manufacturers and combines Lean manufacturing principles with a comprehensive business management suite.
- Easy and accurate product cost and lead time estimating;
- Inventory management and procurement tools;
- Forward and backward production scheduling, drag-and-drop rescheduling, and production planning tools;
- A powerful Bill of Materials system including parametric and multi-level BOMs;
- End-to-end traceability – serial number and batch tracking, labeling and barcode system, expiry tracking, quality inspections, version and revision system, built-in RMA functionality, etc.
- Built-in integrations with your choice of financial, fulfillment, shipping, or eCommerce app.
MRPeasy is 100% cloud-based, works on off-the-shelf hardware, and is always affordable. Check out this short video on how MRPeasy works for the MD&E industry:
Athelas from California, USA, produces modern equipment for blood tests.
York Instruments (a subsidiary) uses MRPeasy as a full ERP/MRP solution.
RetiVue, from Virginia, USA, is a medical device manufacturer specializing in creating retinal imaging tools for ophthalmological diagnosis.
RetiVue uses MRPeasy for end-to-end manufacturing and traceability.
Cantium Scientific from the UK produces a range of bioaerosol sampling devices for use in hospitals, production facilities, food production, and indoor air quality testing.
Cantium Scientific uses MRPeasy as a full-suite manufacturing ERP system.