Medical device technology is a $300 billion plus industry. It’s one of the biggest industries in health care, and growing demand for state-of-the-art consumer medical devices – gadgets that enable the average person to watch their own health and manage conditions such as diabetes, hypertension and more – is driving this explosive growth.
The medical devices industry is the convergence of health care technology and electronics. It’s a fast-moving market, especially when it comes to patent technology, where both the patent and technology lifespan are limited, and commercializing them in the market sooner than later is the goal. It’s an industry that is becoming a high-volume consumer electronics market in which technical innovation, cost control and IP are critical to commercial success.
Many dominant medical technology companies and pharmaceutical firms, such as Johnson & Johnson, General Electric, Medtronic, Baxter International, and Cardinal Health are making big investments in the sector in hopes of capitalizing on the trend towards personal wellness and home-based self-care.
It’s also a very competitive industry and succeeding requires staying informed on the best practices for product development, marketing, sales, financing, IP management and licensing. So where do you go to find out the best practices for managing and building your med tech business?
One of the best resources is the upcoming Med Tech Monday Conference on August 7th in Irvine CA. Recently I spoke with Dan Golka, the Founder of Med Tech Monday, about the conference and the tremendous value if offers for med tech companies, investors and startups. During this interview, Dan shared why he started the conference and why it’s quickly becoming one of the best resources for startups and businesses in the med tech industry.
Interview with Dan Golka, Founder Med Tech Monday Device Conference
You’ll hear more about what goes on during this one day conference, featuring speakers from all areas of the med tech industry … from FDA approvals to selling internationally to funding opportunities. There are presentations by startups with some exciting new technologies such as blood sampling, medical information processes, and neurological testing devices (if you’re a startup there’s still time to apply to pitch your company). You’ll learn about the special panel of successful women med tech entrepreneurs who share their experience on how they built and sold their med tech businesses. And I’ll be speaking on medical device technology licensing and how to use it as part of your business strategy.
You can find out more about the Med Tech Monday Conference at www.medtechmonday.com. And for a limited time Dan is offering LCG subscribers a discount of $95 off the conference price of $295. Just enter the promotional code LICENSINGCG1 when you register.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. His first book, Hidden Wealth: The Money Making Power of Licensing was released in 2019 and is available on Amazon.com. He’s also a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.