By Jeff Radziunas and Amy Jeary
Our world is constantly in flux, and the medical device industry is no exception. Frequent disruptions to our workflow demand flexibility, agility, and a solution-oriented mindset to stay on track and achieve our corporate goals. Fortunately, we have the power to focus on high-potential areas within our control.
A Vision for the Future
Nissha Medical Technologies aspires to be the best-in-class provider of services and products for the medical device industry. This industry, valued at a staggering $492 billion USD in 2022, presents immense opportunity amidst its diversity. To capitalize on this potential, NMT has strategically chosen to focus on four key technology categories: Robotics, Visualization, Sensing, and Miniaturization, which we believe will lead the market through 2032.
Investing in Our People
Recognizing the need for continuous improvement to compete in high-tech markets with Emerging Technologies, NMT is investing heavily in ourselves. We are reorganizing our
engineering workforce on a global scale to create a leveled playing field through workload sharing across all our sites. This global framework establishes a common language and deliverables, leading to improved project execution and reduced waste.
We have also conducted a skills gap analysis to identify areas where knowledge needs to be bolstered, and we are addressing these gaps through targeted training programs. Furthermore, the team is being expanded by recruiting new talent with specialized expertise in Electrical and Optical physics.
Investing in Innovation
Beyond human resources, NMT is committed to investing in cutting-edge technology through M&A activities. These strategic investments include:
· EndoTheia: This co-investment focuses on a novel technology for articulating instruments without wires or cables.
· Isometric Micro Molding: This revolutionary organization excels in micro-molding parts with micron-level accuracy.
· Visualization Technology: We’re partnering with our parent company to integrate our know-how into visualization by creating supply chain relationships. This allows us to burst into the visualization market with advanced camera technologies and applications.
· Force and Pressure Sensors: In collaboration with our Nissha mobile technology group, we’re developing novel, customizable force and pressure sensors for OEM applications like force feedback systems in robotic instruments – a significant advancement in remote surgery.
Pushing Boundaries with Emerging Technologies
NMT’s Emerging Technologies goal is to become a visionary partner; not only addressing current surgical needs but anticipating future advancements, ultimately leading to better patient care.
Here’s how we achieve this vision:
· Collaboration: Actively partner with physicians, hospitals, entrepreneurs, academics, and OEMs to leverage diverse expertise and navigate the complexities of technology integration.
· Proactive Approach: Invest in emerging technologies like miniaturization, surgical visualization, and steerability to stay ahead of the curve and develop scalable solutions for the evolving healthcare industry.
· Focus on Patient Care:
Everything we do revolves around improving patient outcomes. We want to identify unmet needs and integrate advanced technologies to enhance bedside care, ensuring their innovations have a direct impact.
· Seamless Integration: Excel at integrating these advancements into our existing infrastructure, allowing for faster commercialization of next-generation surgical tools.
· Commitment to Quality: Ensure our solutions meet the highest standards by incorporating groundbreaking technologies like EndoTheia’s innovative steering for minimally invasive surgery.
Strengthening Academic Partnerships
Innovation thrives through collaboration, and NMT is taking the initiative to partner with academic institutions and OEMs to navigate the complexities of technology integration. These partnerships enable us to stay ahead in the rapidly evolving medical device industry, ensuring successful and timely advancements.
The Advantage:
· Faster access to cutting edge technology through University collaboration. Wider pool of R&D leads to faster pipeline of innovation.
· Partnering with top academic institutions with strong reputations can assure a higher standard of research and development which translates to potentially safer, more reliable, and more effective medical devices.
· NMT’s partnerships open doors to a wider range of research, potentially leading to more specialized devices that address your specific needs.
· Focus on unmet needs. Universities often focus on tackling niche medical challenges. By working together, we can leverage each other’s expertise to identify unmet needs and develop innovative solutions that benefit patients.
Shaping the Future of Healthcare, Together
NMT’s focus on both our people and cutting-edge technologies positions us for continued success. We’re strategically investing in our workforce and actively pursuing advancements to become the best-in-class provider of services and products for this ever-evolving field. But this journey isn’t ours alone. We believe in the power of collaboration, and we actively partner with physicians, hospitals, entrepreneurs, academic institutions, and OEMs. Together, we can identify unmet needs, integrate emerging technologies seamlessly, and ultimately, deliver solutions that empower medical professionals and improve patient lives.
This is the future of healthcare, and we’re proud to be at the forefront, shaping it one innovation at a time.
Learn more about NMT and our full breadth of capabilities.
