The process for bringing a medical device to market starts with an initial concept and can last years before landing in the hands of an end-user. During each phase of the development process, collaboration and ideation is essential. Perhaps the most critical time for close collaboration is during the initial medical device idea submission process.
This phase sets the rest of the project up for success. Through careful planning and consideration, developers and entrepreneurs can work together to set goals, talk through potential problems and refine a plan forward. Medical device idea submissions kick off a years-long process that eventually ends by improving the care of patients. This aspect of the manufacturing process in itself can take weeks or months, and it is critical to get each stage of the medical device idea submission process right.
Protecting Your Intellectual Property
One of the first and more important steps in the medical device idea submission process is to protect your intellectual property. When you begin working with a partner, or when you first submit your ideas for consideration, you risk opening the door to your intellectual property and ideas being stolen. Medical device manufacturers cannot guarantee protection of your idea once it gets submitted, even if your application for development is denied.
The best way to protect your idea during the manufacturing and development process is to file a patent. Protecting your intellectual property ensures that, regardless of the status of your development, you can maintain ownership of your medical device idea and receive the proper compensation and recognition. It is a good idea to file a patent before submitting your ideas to a manufacturer to protect yourself and your intellectual property at all stages of the development process.
Evaluating Market Viability
Once you have filed a patent, you are ready to partner with a local medical device manufacturer. The medical device idea submission process with manufacturers takes time to consider market viability and long-term investment. Many partners establish years-long contracts that are mutually beneficial and help invest in each others’ projects. To enter into a partnership such as this, the idea submission process necessitates careful consideration and planning.
During this time, a manufacturer will conduct market viability studies and do research to determine the cost and efficacy of the medical device idea. This process is beneficial to the manufacturer to determine risk and benefits, but it is also beneficial to you to guide your project and offer advice and market research considerations.
This necessary research and discovery period looks at the marketability of your medical device idea, as well as the costs and production demands of the final product. When the engineers and developers at your selected partner have determined its net gains, you will be able to move forward with your project and establish a manufacturing plan.
Establishing Manufacturing Plan
The final and most comprehensive step in the medical device idea submission process is to establish a plan to manufacture and market your project. Equipped with extensive medical device research and manufacturing capabilities, we are positioned to move your project forward with effectiveness and cost-efficiency.
In order to begin the development process, further collaboration and mutual understanding is essential. From concept design to prototyping and beta testing, as well as final development and manufacturing, each stage is critical for refining your medical device idea. Just as comprehensive research is necessary to move forward with the investment of the project, full-stage development planning helps cover each party and lays the groundwork for successful development.
During this process, your manufacturing partner will consider each stage and what is necessary to complete it. Establishing a path for FDA approval is also necessary for final manufacturing and marketing. With these considerations in mind, you are ready to move forward and begin a new project to bring your medical device idea to life.
Turn Your Medical Device Concepts Into Reality
It takes truly great minds in a collaborative and mutual setting to create the next generation of medical devices. From catheters to implants to simple tubes and needles, the medical device market is evolving and finding new ways to improve patient care. Each stage of development necessitates careful consideration and planning, along with expertise to ensure quality manufacturing.
If you are looking to submit your medical device idea to bring it to market, consider partnering with NPX. We invest in our partners’ projects to drive innovation and bring better equipment and instruments to the market. Contact us and submit your next great idea.
