The top reason for the delay was lack of funding, which accounted for 40 percent of the delays. Eight out of 10 CEOs said the FDA regulatory approval process had slowed the growth of their companies. The report cited access to capital, the regulatory environment and lack of innovation and productivity in research and development as the biggest threats to the biomedical industry’s growth over the next five years.
Related Articles on Medical Devices:
10 Recent FDA Medical Device Approvals
Food and Drug Law Institute Report Says FDA Needs to Reform 510(k) Process
St. Jude Medical Plans to Double its Location in Plymouth, Minnesota
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.