Envisioning the Medical Device Company of the Future: Weighing the Risks and Benefits of Outsourcing

Learn successful best practices to overcome the challenges of outsourcing. The U.S. market for medical devices is expected to reach $89 billion this year. But with this promising opportunity comes the added pressure for medical device companies to stay ahead of the competition through innovation at a reduced cost. According to an online survey conducted by Knowledge@Wharton and HCL Technologies, industry respondents see outsourcing as a potential solution to this challenge, and yet they are aware that this new set of tools brings with it new risks. Although the best ways to mitigate those risks may seem unclear, interviews with experts from Wharton, HCL and medical device firms indicate that a particular set of best practices may make success more likely.