Why should we measure medical technology at the rate of new drugs developed? What about the speed of DNA sequencing advancing faster than Moore's law? What about Organovo's recent claims on 3D printing organs, with vascular system in place, by next year? What about advanced prothesis that can provide touch senses to the user? Or even visual or audio prothesis, made possible with advancements in brain-computer interfaces?
Your argument basically boils down to saying that the rate of CPU clock speeds developed in recent history is indicative of an overall slowdown in computer science. Clearly there are other paradigms that need to be explored before we can say that Moore's law is no longer relevant, let alone all of computing.
Yes, the average of all medical tech is going to always lag behind computing for ethical reasons. And that of course, there are ways we can improve medical testing using stem cell research. But to say that we're at risk of moving backwards because one or two particular areas are in serious need of optimization is a bit far-fetched.