knowledge

ANAHEIM, Calif. — Thousands of workers in the medical device industry gathered here this week for the MedTech Conference, creating an eerie dissonance with Disneyland tourists clad in Mickey Mouse ears and fanny packs.

Device makers and analysts at the conference, hosted by device lobby AdvaMed, came together to discuss medical technology’s innovation problem, the industry’s deepening relationship with the Food and Drug Administration, and the growing opportunities in digital health.

advertisement

After a couple of years of tremendous gains generated by the pandemic’s demand for medical equipment, the medical device industry has hit a slump. In its annual medtech report, EY reported a 30% decline in all industry financing, which includes a drop in initial public offerings, special-purpose acquisition company deals, and venture capital funding.

Get unlimited access to award-winning journalism and exclusive events.