How Unconventional Thinkers Unlock Medical Innovation

MedPage Today October 17, 2024
Kieran Murphy, MD

— An excerpt from Murphy’s book, The Essence of Invention

Despite the uphill battle that most inventors must undertake to bring their innovations to market, the global market for medical device technologies was valued at $550 billion in 2021. By 2030, it is projected to reach $850 billion, reflecting a compound annual growth rate of 5.5%. This raises the question: could the medical device industry be more successful? The answer is yes, but only by fostering a more supportive culture and environment. To achieve this, we must first understand who these inventors are and what drives them to create the tools and techniques of the future.

Inventors, by definition, are often eccentric, and there is a notable relationship between the...

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