A Growth Industry
OUR MISSION
Phoenix MedTech Consortium has the mission of bringing medical device industry executives together for collaboration and edification with the intent to bring an exchange of value, shaping the medical devices and solutions that improve the quality of life of the people in our community and the world. The work we do at our Non-Profit Organization is aimed at providing an environment for the exchange of ideas and collaboration that enriches those who participate. We make sure our members are empowered by creating opportunities for individuals and communities.
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The medical device industry is poised for steady growth, with global annual sales forecast to rise by over 5 percent a year and reach nearly US$800 billion by 2030 . These projections reflect increasing demand for innovative new devices (like wearables) and services (like health data), as lifestyle diseases become more prevalent, and economic development unlocks the huge potential in emerging markets – particularly China and India.
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​Despite these apparently attractive prospects, a shadow hangs over the sector in the form of a relentless downward pressure on pricing. Governments around the world are desperately trying to reduce the cost of healthcare – especially in the most expensive part of the system: hospitals. They want to pay less for medical devices and see proof of greater value in terms of better patient outcomes.Responsibility for many purchasing decisions has already moved from clinical to economic buyers. Short-term respites like the 2-year US excise tax moratorium on medical devices notwithstanding, pricing appears to be going in one direction only – down. Further uncertainty lies ahead, with the new European Medical Device Regulation in 2020 and regulations in China that are designed to spark local innovation.
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These developments present a quandary for medical device companies that have historically concentrated on manufacturing and research and development (R&D), but are now seeing healthcare budget restrictions and new reimbursement regimes continue to snip away at margins. On top of this, new players – some from entirely different industries – are disrupting the sector by harnessing data to take ownership of customers, patients and consumers. In this volatile new marketplace, today’s device players are in serious risk of being stuck in the middle of the value chain, as mere commodity producers.
What is Phoenix MedTech Consortium?
PHXMTC is a grass-roots group of medical device industry executives, inventors, and accredited investors who are passionate about medical innovations that improve the quality of life and extend people’s lives. PHXMTC is a forum for these industry insiders to network and collaborate to enhance the process of innovation and bringing life improving products to market.
What is MedTech?
MedTech is any device or technology that is used to treat or diagnose a disease. It can include an instrument, device, implant, or technology and can be used in a person’s home, clinic or hospital setting. There are medical devices in virtually every medical specialty from neurosurgery to cardiology and they can be disposable, reusable or implantable.
Why Phoenix?
Those of us who live in Phoenix have seen it become one of the fastest growing metro areas in the nation. The quality of life that we enjoy here is extraordinary and we want to see the medical device industry continue to thrive in this great state.
Directors
COMMITTED TO THE CAUSE
Managing Director
Drue has spent over 30 years in the medical device industry and for the past 20 years, he's focused on solving companies' most difficult challenges through the acquisition of transformational leaders to drive execution across the value chain.
Director
Rob Ball has decades of experience within medical devices and focuses daily on I surgeon entrepreneurs, venture capital, intellectual property guidance, research and development, FDA approvals, and commercialization.
Director
Jeff is an accomplished medical device industry innovator and executive with 30+ years of experience from private-equity startups to public industry leaders. For years, Jeff has helped early stage device companies develop and execute commercial strategies.