New medical device companies are swiftly addressing medical challenges and shifting patient needs with technological solutions. By leveraging artificial intelligence (AI), nanotechnology, smart implants, and advanced biocompatible coatings, these novel innovators are raising the standards in the medical device industry. With a focus on enhancing diagnostic accuracy, improving surgical outcomes, and advancing patient monitoring, these companies enable enhanced patient care and improved clinical outcomes.
Continue reading to gain data-driven insights on:
- Emerging Trends Shaping the Medical Device Sector
- Profiles of 10 Pioneering New Medical Device Companies
- How to Scout Innovative Medical Device Companies Easily
Key Takeaways
Drawing insights from the Big Data & AI-powered StartUs Insights Discovery Platform that provides data on over 4.7+ million emerging companies globally, we explore the evolving landscape of the medical device industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:
- Latest Medical Device Trends: Some of the major trends impacting the medical device manufacturing industry include AI, wearables, biocompatible coating, nanotechnology, and smart implants.
- Medical Device Industry Stats: The medical device sector encompassing 103K+ companies worldwide, has seen a decline of 1.14% in annual growth rate over the past 5 years. Yet it maintains a strong workforce of 6.7 million and has witnessed the emergence of 10K+ new companies in the same span.
- 10 New Medical Device Companies to Watch:
- Xenter – Wireless Hemodynamics
- Novavido – Medical Device for Retinitis Pigmentosa
- AeroDel – Respiratory & Sleep Care Products
- Ripple Therapeutics – Implantable Prodrug Materials
- HME Square – Non-invasive Glucose Monitoring
- Bioprex – Antimicrobial Coating for Biomedical Devices
- Inclode – Surgical Incision Closure Devices
- Hera Diagnostics – Cervical Cancer Screening
- Maria Medical Technology – Aesthetic Devices Manufacturing
- Envision – Polymer-based Ophthalmic Materials
Current Medical Device Trends Supporting Healthcare Innovation
Artificial Intelligence
AI enhances diagnostic precision, optimizing device functionality, and personalizing patient care. Manufacturers leverage AI algorithms to process vast amounts of data for improved device performance, predictive maintenance, and real-time monitoring. AI’s application ranges from smart prosthetics adapting to users’ movements to diagnostic tools that accurately interpret imaging results, significantly advancing patient outcomes and operational efficiency
Wearables
Wearables integrate advanced sensors, connectivity, data analytics, and several technologies into wearable devices, enabling continuous, real-time health tracking and personalized medicine. These innovations facilitate early disease detection, improve chronic condition management, and offer insights into patient health patterns.
Biocompatible Coating
Biocompatible coatings enhance device integration and reduce the risk of infection. These coatings are applied to devices ranging from stents to implants, creating a barrier that improves device longevity and patient safety. The coatings are compatible with body tissues, preventing adverse reactions while promoting healing and tissue integration.
Nanotechnology
Nanotechnology offers solutions in drug delivery, diagnostic sensors, and tissue engineering. By manipulating materials at an atomic or molecular scale, medical device manufacturing companies create devices with properties such as increased strength, lighter weight, and improved conductivity. Nanoparticles target drug delivery with precision, minimizing side effects and maximizing therapeutic effects.
Smart Implants
Smart implants include devices that replace functions while providing real-time health monitoring and data collection. These implants, equipped with sensors and wireless connectivity, offer continuous monitoring of vital parameters such as glucose levels, heart rate, or orthopedic load, enabling personalized medicine and predictive healthcare.
Also read: 10 Medical Device Trends in 2024
Explore 10 Out of 10K+ Emerging Medical Device Companies
In this section, we provide a list of medical device companies that are at the forefront of innovation in healthcare technology. These firms address the critical needs of modern medicine and patient care by integrating technologies such as AI, wearables, nanotechnology, biocompatible coatings, and smart implants into their solutions.
Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. Signal Strength gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.
1. Xenter
- Founding Year: 2020
- Employee Range: 11-50
- Location: USA
- Signal Strength: Very Strong
- What they do: Xenter collects physical intelligence, the real-time physiologic data, that assists in clinical decisions and enhances electronic health records (EHRs). Xenter’s products include Smart Wires, intelligent guidewires, and catheters, which gather physical intelligence. This data then goes through XenFi Wireless Network to the XMD healthcare cloud, where it supports AI-powered application, XenME, for patients and physicians, improving clinical decision-making and outcomes.
2. Novavido
- Founding Year: 2021
- Employee Range: 2-10
- Location: Italy
- Signal Strength: Very Strong
- What they do: Novavido provides a nanotechnology-based medical device, Liquid Retina, which restores sight for patients suffering from retinitis pigmentosa. This device utilizes a photovoltaic polymer to create nanoparticles dispersed in an aqueous solution. It offers a replacement for damaged photoreceptors and vision recovery across the entire visual field. Leveraging polythiophenes, a class of light-absorbing plastics that convert light into electrical charges, these nanoparticles are small enough to be suspended in a biocompatible liquid and injected beneath the retina. Once administered, they diffuse throughout the retina, interacting with surviving neurons to stimulate visual function.
3. AeroDel
- Founding Year: 2021
- Employee Range: 2-10
- Location: India
- Signal Strength: Medium Strong
- What they do: AeroDel offers respiratory and sleep care products. Its offerings include AeroFlex, AerOPEP, JetMist, and SpiroDel. AeroFlex improves medication delivery and reduces oral deposition. AerOPEP offers oscillating positive expiratory pressure therapy, enhancing airway clearance without medication. It is suitable for conditions like chronic obstructive pulmonary disease (COPD) and asthma. JetMist, a portable nebulizer, transforms liquid medication into a fine mist for efficient lung delivery. Lastly, SpiroDel provides critical insights into lung health, enabling early detection of pulmonary issues and aiding in disease management.
4. Ripple Therapeutics
- Founding Year: 2020
- Employee Range: 11-50
- Location: Canada
- Signal Strength: Very Strong
- What they do: Ripple Therapeutics offers sustained drug delivery through its Epidel technology, which eliminates the need for polymers or excipients. This approach creates implantable prodrug forms like cylinders and microspheres, achieving precise pharmacokinetic control through surface erosion. It enables finely tuned drug dosing without additional bulk. Ripple Therapeutics’ product, IBE-814 IVT, targets diabetic macular edema (DME) and retinal vein occlusion (RVO). Additionally, the company’s RTC-1119 treats open angle glaucoma and ocular hypertension.
5. HME Square
- Founding Year: 2020
- Employee Range: 11-50
- Location: South Korea
- Signal Strength: Very Strong
- What they do: HME Square’s GlucoSOUND, a non-invasive continuous glucose monitoring (CGM) wearable device, eliminates the need for painful blood sampling or needle insertion. The device uses photoacoustic technology that combines light and ultrasound waves for painless, accurate readings, making glucose management more accessible and less intrusive. Its features include continuous, real-time monitoring with a detachable design, reusable sensors, and connectivity options for sharing data with caregivers or medical professionals for enhanced safety.
6. Bioprex
- Founding Year: 2022
- Employee Range: 2-10
- Location: Netherlands
- Signal Strength: Very Strong
- What they do: Bioprex provides an antimicrobial coating that combats bacterial contamination associated with biomedical devices. This technology features an immobilized hyperbranched biocidal layer that effectively kills bacteria upon contact through powerful electrostatic forces. The technology consists of three key components. The first component is coupling agents that covalently attach the coating to various surfaces. The second component includes hydrophobic hyperbranched polymers that enhance the coating’s durability and block moisture penetration. The third component involves polyamine structure modified with different reagents to create contact-killing quaternary ammonium functionalities. This combination provides an antimicrobial barrier and allows for versatility in application across a wide range of device surfaces.
7. Inclode
- Founding Year: 2019
- Employee Range: 2-10
- Location: Argentina
- Signal Strength: Strong
- What they do: Inclode advances sutureless wound closure with its ACCESS technology, harnessing biomimetics to replicate the properties of intact skin for rapid, controlled healing. The technology offers two products, ACCESS Mini and ACCESS Open. ACCESS Mini is tailored for laparoscopic surgeries such as laparoscopy, arthroscopy, videothoracoscopy, thoracostomies, and tracheostomies. The ACCESS Open technology facilitates the closure of incisions across a broad spectrum of open surgical procedures. With features such as rapid, precise, and standardized closure, ACCESS Open ensures that consistent, replicable results are achieved, underpinning controlled healing and direct monitoring of the wound.
8. Hera Diagnostics
- Founding Year: 2020
- Employee Range: 2-10
- Location: Mexico
- Signal Strength: Very strong
- What they do: Hera Diagnostics manufactures Herafem that enables cervical cancer screenings using electrical impedance and optical spectroscopy technologies. Its approach detects morphological and electrical changes in cells indicative of dysplasia, combining statistical analyses of optical measurements, impedance, patient data, and symptoms for precise diagnoses.
9. Maria Medical Technology
- Founding Year: 2020
- Employee Range: 2-10
- Location: UAE
- Signal Strength: Medium
- What they do: Maria Medical Technology integrates AI and robotics to create aesthetic devices and medical cobots. The company develops laser and energy-based solutions, offering advanced treatment systems for aesthetic specialists. Its medical cobots perform and assist in tasks, relieving medical personnel of routine duties, allowing them to focus on more critical tasks, and facilitating safer, more cost-effective medical interventions.
10. Envision
- Founding Year: 2020
- Employee Range: 2-10
- Location: USA
- Signal Strength: Very strong
- What they do: Envision creates polymeric materials for the medical device sector, with a focus on chemistry and biosciences. With a particular emphasis on ophthalmic applications, including contact and intraocular lenses, Envision leverages its expertise to enhance patient comfort, compliance, and overall lifestyle. These materials empower medical device manufacturers to elevate their products and enrich the customer experience.
Tips to Quickly Find New Medical Device Companies
Utilizing a SaaS platform like the Discovery Platform for identifying new medical device companies provides significant benefits compared to traditional scouting methods:
- Streamlined Efficiency: The Discovery Platform offers advanced tools that streamline the scouting process. It replaces your hours of conventional desk research, saving time and resources in identifying medical device innovations.
- Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the medical device industry. The platform keeps you informed with near real-time updates on the best medical device companies and news, enabling you to make swift and informed decisions.
- Tailored Exploration: Customize your search to focus on specific niches within the medical device sector, such as biocompatible coatings, nanotechnology, or smart implants. The platform’s diverse filtering options allow you to target your scouting efforts precisely, ensuring that you find the most relevant and groundbreaking companies in the field.
Ready to Explore All Medical Device Companies?
We’ve explored the dynamic landscape of the medical device industry, examining the latest trends and spotlighting exceptional companies driving innovation. To dive deeper, download our detailed free Healthcare Report or schedule a demo of the Discovery Platform for a customized exploration of these groundbreaking developments.
