The medtech industry notched record numbers of US Food and Drug Administration approvals in 2023. Medical technologies enabled by AI and machine learning reached an all-time high, at approximately 185 for the year, an increase of about 33 percent from 2022, senior partner Karsten Dalgaard and coauthors note. Industry executives expect the pace of innovation to accelerate in 2024, which may also bring greater competition.
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The main visual is a pair of bar graphs one showing the US food and drug administration’s novel medtech approvals per annum from 2015 through to 2022 with an estimate for 2023, and the other showing the total US food and drug administration’s medtech approvals that are AI or machine learning enabled from 2015 through to 2022 with an estimate for 2023. In the first the estimate for 2023 is 113 up from 82 in 2015. In the secnd the estimate for 2023 is 185 up from 5 in 2015. Source: Evaluate Medtech; FDA database
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To read the article, see “What to expect from medtech in 2024,” February 7, 2024.