Technology and healthcare are evolving, and that means innovative medical device companies and products are advancing the industry and creating opportunities for sales reps.
To keep you on top of emerging medical device companies, MedReps investigates the top startups every few months in our Startups to Watch series. These companies are bringing new ideas and solutions to the industry that reps should be aware of.
Here are a few of the top startups to watch:
Imagine a world where “incurable” is no longer a word attached to disease. With medicines getting more expensive to produce and it taking as long as 15 years for a new drug to be developed, the medical world is in need of a new approach. Atomwise recognizes this demand and is making the change by using supercomputers to predict which potential medicines will work and which are toxic.
Atomwise is proving their worth by launching more than a dozen projects in the last year to find cures for diseases that would otherwise be too expensive and time-intensive to solve. By using one of the world’s top supercomputers to analyze databases 1000 times larger than those of the past, Atomwise is delivering precise and reliable medicinal predictions. Their end goal is finding better medicines faster.
With 100 million dollars in funding, Butterfly Network plans on changing the face of medical imaging. Current technologies are expensive, massive, and require detailed training, leaving 60% of the world without access. Butterfly Network’s breakthroughs are making medical imaging accessible to everyone in the world, creating tools to save millions of lives.
Their solution is to take all of the ultrasound machine’s components and squeeze them onto one tiny, single silicon chip. This new system’s Deep Learning Algorithms will guide clinicians with less experience.
Four million patients are currently living with poor valves in the veins of their legs, but there is no definitive cure or option for replacement. On top of that, over $14 billion dollars is spent just on managing the condition.
InnoVein is developing a prosthetic valve for veins, revolutionizing the way healthcare deals with poor valves in the legs. Their award-winning technology will offer patients suffering with this issue their first curative therapy.
Forty percent of healthcare costs related to poor leg valves can decrease thanks to this office based procedure. The outcome is hopeful, thanks to the founding team of three who have brought over a dozen products to market with sales exceeding $3 billion.
One of the most overlooked issues in today’s healthcare world is vaginal dryness caused by hormonal changes after menopause and the effects of cancer treatments on breast cancer survivors.
Madorra is changing the standard for treating vaginal dryness by providing a medical device solution to a problem that has previously only been served by medications. Madorra elicits natural, physiologic lubrication and restores vaginal health. This device is giving postmenopausal women and breast cancer survivors the option of a non-hormonal solution.
The founders of Standard Cyborg are drastically improving prosthetics through enhanced software. They believe in giving practitioners intuitive and powerful tools. These tools will make it possible to design and make available every prosthetic and orthotic imaginable.
Standard Cyborg uses computational geometry for human augmentation and believe that technology can enable us to move beyond human capability. Their newest product is the Standard Cyborg Design Studio. The new solutions for checking socket design include: 3D scanning tool for iPads, 3D modeling for your web browser, and 3D printing with PETG. New 3D technology will give practitioners the ability to turn their intuition into a product, allowing more time to be spent with patients.
What do you think? Which medical device companies do you have your eye on?