I’ve worked in med device since 2008. The effort it takes to develop and commercialize med devices is continuously increasing and subsequently driving up costs. Many teams of engineers are paid well to generate binders full of documentation in support of the regulatory/compliance requirements of even simple devices. I’m sad to say that this increased effort doesn’t directly translate to better devices, but it certainly keeps a lot of people employed.
Regarding increased costs in healthcare…
I’ve worked in med device since 2008. The effort it takes to develop and commercialize med devices is continuously increasing and subsequently driving up costs. Many teams of engineers are paid well to generate binders full of documentation in support of the regulatory/compliance requirements of even simple devices. I’m sad to say that this increased effort doesn’t directly translate to better devices, but it certainly keeps a lot of people employed.