The rapid pace of technological advancement in the last decade has introduced both significant benefits as well as significant challenges to medical device makers. Companies these days are faced with demands of bringing products to market faster and faster, not only to meet sales and market demands, but also to ensure they are not outpaced by the fierce competition. In the not-so-distant past, competition was limited to companies that were within reach (at least figuratively speaking), or to advancements made by the top companies. Today’s competition is global and medical device makers face competition from upstarts around the globe, as well as large companies that have vast resources at their disposal. Any Minneapolis company could very easily discover that it was just outpaced by a competitor from Denver, Barcelona, or Taipei. In fact, it could discover overnight that the very same Taipei company was just acquired by a very big neighbor from Minneapolis, and now it has a giant sales team pushing its technologically advanced product. Scary thought.

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