The Development and Commercialization of Medical Technologies

Anthony A Bertrand; Michael R DeLong; Akash Chandawarkar; Chandler Robinson

doi:10.1093/asj/sjaa424

The Development and Commercialization of Medical Technologies

Aesthet Surg J. 2021 Nov 12;41(12):NP2020-NP2029. doi: 10.1093/asj/sjaa424.

Authors

Anthony A Bertrand¹, Michael R DeLong², Akash Chandawarkar³, Chandler Robinson⁴

Affiliations

¹ Stanford Graduate School of Business, Stanford, CA, USA.
² Division of Plastic Surgery, Department of Surgery, University of California at Los Angeles, Los Angeles, CA, USA.
³ Division of Plastic Surgery, Department of Surgery, Johns Hopkins Medicine, Baltimore, MD, USA.
⁴ CEO, Monopar Therapeutics, Wilmette, IL, USA.

PMID: 33438011
DOI: 10.1093/asj/sjaa424

Abstract

It is not uncommon for physicians to think of ways to improve the delivery of care, which may take the form of a new medical device, drug, test, or service. In recent years, structured approaches to the identification of unmet needs and the development of solutions have been introduced to the medical community. Yet, due to gaps in exposure and training, there remains an opportunity to improve the level of understanding within the medical community regarding how to develop an innovation, once conceived, to the point of commercialization. The purpose of this article, therefore, is to provide an overview of some of the relevant considerations and requirements when bringing an idea for a new medical technology to market.