Why Canada Hosting This Year’s MedTech Conference Matters
In just a couple of weeks, Toronto will play host to one of the most important medical technology conferences on Earth. The international MedTech Conference (October 15-17) will see thousands of participants from across North America and beyond come together to learn, grow, share, and celebrate the accomplishments of the sector. This year, the conference is being held on Canadian soil for the first time, a significant moment that reflects the increasing maturity and depth of Canada’s MedTech sector. Without a doubt, this is a testament to the hard work of so many within Canada's vibrant life sciences and medical device sector and, in particular, the great leadership of Medtech Canada, its board, and Nicole DeKort in putting Canada's MedTech sector on the global map.
Medical technology is an incredibly diverse category, encompassing a wide range of innovations that differ in their application, use, and placement within healthcare systems. From diagnostic tools and surgical devices to advanced prosthetics and health monitoring systems, the landscape is rich with variety and opportunity. Because of this diversity, the issues facing the industry can be quite varied as well, depending on the technology in question. However, there are several regulatory and policy trends that affect the sector as a whole, are in constant motion, and require careful attention:
The Circular Economy/Extended Producer Responsibility
The push towards a circular economy is placing new obligations on manufacturers and first importers in terms of the full lifecycle of their products and packaging. This movement has been gaining momentum for years, particularly within other industries such as consumer packaged goods. However, we are now seeing its application to the MedTech sector, where manufacturers must prepare to take greater responsibility for sustainability and stewardship across the product lifecycle. This has meant new obligations and new costs being borne by the sector, driven primarily by provincial regulations and approaches which are not always aligned when it comes to product stewardship. And, while industry would benefit from greater coordination, alignment, and certainty among provincial governments, this remains an area of policy that requires one to keep track of what is happening in each jurisdiction, among stewardship organizations, and the activities of stakeholders within this developing area of responsibility.
Right to Repair
The right to repair movement continues to advance, with policy and legislative developments at both the federal and provincial levels in Canada, and with implications for the medical device space. While the “right to repair” movement is largely rooted in consumer electronics and other household goods, steps taken by policymakers have broadened the circle through measures that would impact on the highly regulated world of medical devices with potential implications for patients, health delivery organizations, and industry. This movement is creating new expectations for device manufacturers with respect to access to repair parts to extend the life of medical devices, as well as changes to copyright legislation that interfere with manufacturers' abilities to use digital locks to protect the integrity and safety of their codebase. These expectations, however, are not without their risk to patients and to healthcare delivery organizations, something which our existing medical device regulatory regime is designed to protect. Consequently, it is vitally important that policymakers engage the industry and its representatives in meaningful consultations throughout every stage on every element of policy when it comes to these changes.
For its part, the medical device sector must continually monitor this issue and adapt to what feels like a constantly evolving regulatory and policy landscape, even as it tries to influence future directions towards a more balanced path.
Canada-U.S.-Mexico Agreement (CUMSA/USMCA) Review/Renegotiation
The pending review and possible renegotiation of the trade agreement among North America’s “Three Amigos” (Canada-US-Mexico) could have a major impact on the MedTech sector (and our economy more broadly), with implications for tariff policy, intellectual property protection, and the free movement of both parts and fully assembled products. Understanding the implications of potential changes in trade policies is crucial for companies as they navigate market access, pricing, and supply chain management. Understandably, the outcome of the US election will have a major impact on trade policy in the years to come.
Facilitating Better Access to Medical Device Innovation
Medical device innovation able to provide huge benefits to both patients and health systems but the pace of adoption in healthcare lags the pace of innovation itself. For all our sakes, this is an issue that needs to be addressed.
Unlike pharmaceutical reimbursement pathways, medical devices and other health technologies often face more complex -- or at least far less defined – avenues for market access. Without losing sight of what makes them different from medicines, it is important to acknowledge that barriers exist when it comes to the adoption of innovative technologies in healthcare settings. Policy makers should consider strategies that facilitate earlier adoption of new medical technology, including the option of providing direct funding support to accelerate the adoption of these new technologies by health delivery organizations.
During MedTech 2024, Delphic Research will be looking to help raise the profile of this essential sector and ensure that its contributions to our health are recognized and supported. There has never been a more exciting time to be involved in MedTech, and I am confident that the discussions we have at this conference will help shape the future of healthcare in Canada and beyond.
If you would like to learn more about this year’s MedTech Conference, please click here.
