144 karma · joined July 12, 2012
The artical says "surgical innovations" which probably means instruments and procedures. Also "some implants" are exempt from showing efficacy in clinical trials under HDE for cases in which the patient would have died anyway (e.g. pacemakers).
All medical devices of Class 2 and 3 must go through clinical trials to prove safety and efficacy as part of the FDA IDE. Spinal implants would certainly be Class 3.
Edit: clarification
"if there was no possibility to get rich, there would be no startups".
Does not explain patronage, i.e. people investing in people for reasons other than getting rich.
"without start-ups, there would be slower rates of technological growth".
Prizes, like the Ansari X-Prize, is another model that drives innovation, it can be viewed as a low-risk investment.
The library I described was supposed to be about all the external bits: signal conditioning, power conditioning, sensors etc.