Am I likely to see the same “problems” present in the medical device markets as exist in pharmaceutical markets? I’m confused and am just trying to explore the landscape.
What specific problems are you referring to?
I don’t know. It’s possible that because I came of age during a time when Dexcom hit the market and Omnipod was released, as an alternative to MT pumps, that I sorta viewed tech as some kinda place where problems were only solved. Maybe I kinda latched onto that idea and forgot that problems also exist there, and have always existed. Sometimes tech improves things, but sometimes it makes things worse. I mean, we all know that. I think my expectations of what could be just might have overshadowed how things actually are.
@mohe0001, you have to remember that these companies are primarily businesses. Their primary concerns are what all businesses are concerned with – making a profit, outwitting competition, slow-releasing improvements so as to prolong profitability and, of course, especially in the health industries, making sure that they won’t incur losses due to product malfunction. They are, in effect, pharmaceuticals and dealing with substance ingestion and computer algorithms that control that substance ingestion. It is a risky thing. But, remember when the automotive industry saved pennies on each vehicle sold but saved millions because the accidentally caused deaths cost them less than the savings? Corporations find that to be acceptable even though we do not.
I’m not sure that anything ever gets tested. I’m not sure that adverse events are addressed. I’m not sure this stuff has to do what it says it does at all. I don’t feel like I need to look very hard or very long before I find big, big problems.
Each new device has generally gotten better. Many times the better is minor and many times each new advance does not work as expected, but generally things are better.
As i look back to where I am as compared to where i was four years ago, I would say there is no comparison. Yes the road has been twisty sometimes, but the result has been very good.
That’s true, Rphil2. This specific piece of equipment scared the crap outta me, but it was better than the last one.