The medical device industry has made remarkable strides in improving patient care, from diagnostic tools to advanced surgical instruments. Current solutions, while effective, often adopt a one-size-fits-all approach that can lead to suboptimal outcomes.
For instance, standard prosthetics may not fit comfortably or function as well as needed, and generic medical devices may not address each patient’s unique anatomical differences.
This lack of personalization can result in increased discomfort, longer recovery times, and lower overall effectiveness of treatments.
The demand for personalized medical devices has surged as healthcare trends shift towards patient-centric approaches. Personalized medical devices cater to the specific needs of individual patients, considering their unique anatomical and physiological characteristics.
Personalized medical devices harness advanced technologies such as 3D printing, AI-driven data analysis, and bespoke manufacturing processes. These solutions also reduce the risk of complications and enhance the overall quality of care.
This article explores five innovative personalized medical device startups developing customized medical solutions.
These startups have the potential to grow rapidly, are in a good market position, or can introduce game-changing traffic control tech to the market in the next 2-3 years.
This makes them a great option to partner, collaborate, or acquire.
1. ABLE Human Motion Making Movement Easier with its Exoskeleton
| Founding Year | 2018 |
| Headquarters | Catalonia, Spain |
| Total Funding Amount | €2 Million |
| Last Funding Round/Amount | Grant/€60 K |
| Website | https://www.ablehumanmotion.com/en/ |
Individuals with spinal cord injuries often suffer from severe motor impairments and reduced mobility. These conditions diminish the quality of life and lead to long-term health issues and substantial psychological and financial burdens for patients and their families. Current rehabilitation solutions are often bulky, complex to use, and prohibitively expensive, limiting access to effective therapy for many individuals.
To address these issues, ABLE Human Motion has developed the ABLE Exoskeleton, a lightweight, hip-knee-powered robotic exoskeleton designed for neurorehabilitation.
This innovative device weighs only 17 kg, significantly lighter than many existing exoskeletons, which can weigh up to 30 kg. It has advanced sensors and electric motors that mimic natural leg movements, enabling users to stand, walk, and perform other mobility tasks.
The exoskeleton’s quick setup time of less than seven minutes enhances the efficiency of rehabilitation sessions. Additionally, it is designed to be more affordable, costing approximately half of what current market leaders charge.
ABLE Exoskeleton’s lighter weight and user-friendly design facilitate greater independence and ease of use for patients. Moreover, its affordability democratizes access to advanced rehabilitation technology, potentially transforming the landscape of neurorehabilitation by making high-quality care available to more people.
Alfons Carnicero Carmona is the co-founder and CEO of ABLE and the treasurer of IISART. He started his career as an R&D engineer with medical technology and rehabilitation companies. While working at CREB UPC—Research Centre for Biomedical Engineering, Alfons was the ABLE project manager.
Carmona also worked as an associate lecturer in mechanical engineering at the Polytechnic University of Catalonia. He also completed his MS in industrial engineering at the same university in the past.
ABLE received its latest funding grant of €60K from Horizon 2020 on Apr 1, 2021.
2. Puzzle Medical Devices’ ModulHeart Preventing Advanced Heart Failure
| Founding Year | 2018 |
| Headquarters | Montréal, Quebec, Canada |
| Total Funding Amount | $35 Million |
| Last Funding Round/Amount | Series A/CA$34 Million |
| Website | https://www.puzzlemed.com/ |
Advanced heart failure is a condition that affects over 30 million people worldwide and often leads to severe cardiac and renal dysfunction. This debilitating disease significantly impacts patients’ quality of life. It also places a substantial economic burden on healthcare systems due to the high costs associated with long-term treatment and hospitalizations.
Puzzle Medical Devices has developed a proprietary transcatheter heart pump called the ModulHeart to tackle these challenges.
This innovative device is designed to provide mechanical hemodynamic support with minimal trauma to blood components, allowing for safe and efficient cardiac assistance without open-heart surgery.
The ModulHeart’s modular design features 4mm pumps that can be safely anchored in the descending aorta, supporting both cardiac and renal functions. This technology is noted for its minimally invasive nature, which reduces the risk of complications and speeds up patient recovery times.
The ModulHeart technology has shown promising results in preclinical studies, demonstrating effective hemodynamic support and potential for widespread clinical use. The device has also received FDA Breakthrough Device Designation, highlighting its innovative nature and the potential to fill an unmet need in treating advanced heart failure.
Co-founder and CEO Jade Doucet-Martineau has been leading this personalized medical device startup since its inception. She is also a board member of École de technologie supérieure, Canada.
Martineau completed her Bachelor in Mechanical Engineering from École de technologie supérieure. She also completed a Medtech business program (Centech) under guidance of serial entrepreneurs Steven G. Arless and Luc Giguère.
Puzzle Medical Devices raised its latest funding, CA$34 Million, from a Series A round on February 27, 2023.
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3. Glaze Prosthetics Making Comfortable and Lightweight Personalized 3D-printed Prosthetics
| Founding Year | 2017 |
| Headquarters | Kraków, Malopolskie, Poland |
| Total Funding Amount | PLN2M |
| Last Funding Round/Amount | Seed/Publicly Not Disclosed |
| Website | https://iam.glazeprosthetics.com/ |
Amputees often struggle with heavy, uncomfortable, and aesthetically unappealing prosthetic limbs. These traditional prosthetics can hinder daily activities and affect the user’s self-esteem and quality of life.
Glaze Prosthetics has developed customized 3D-printed lightweight prosthetic limbs to overcome these issues. The startup uses HP’s Multi Jet Fusion 580 Colour 3D printing system to create functional and highly personalized prosthetics.
The prosthetics are made from durable polyamides and can be customized in color, shape, and finish, allowing users to express their individuality. The design process involves precise scanning of the amputee’s measurements, which ensures a perfect fit. The modular design of these prosthetics allows them to be easily interchangeable, offering flexibility and convenience.
The aesthetic appeal, lightweight construction, and rapid production times of prosthetics set this startup technology apart from available solutions. Glaze Prosthetics can deliver a fully customized prosthetic within 7-14 days, significantly faster than traditional methods.
This personalized medical device startup is led by Grzegorz Kosch, its co-founder and CEO. Kosch also leads similar startups like Wimba (for veterinary prosthetics), Invomed, and Orto Algorytmics. He holds a PhD from SGH Warsaw School of Economics.
Glaze Prosthetics raised its latest seed funding round on Jan 5, 2022.
Related Read: What to expect from the medical textiles industry?
4. Nia Technologies Making Personalized Prosthetics for Developing Countries with 3D PrintAbility system
| Founding Year | 2015 |
| Headquarters | Ontario, Canada |
| Total Funding Amount | Not Publicly Disclosed |
| Last Funding Round/Amount | Not Publicly Disclosed |
| Website | https://www.niatech.org/ |
Limited access to prosthetics and orthotics is a prolonged issue in developing countries, where only 10-15% of the people in need (approximately 38 million) receive such devices.
This lack of access leaves many, especially children, unable to walk, which impacts their education, social interactions, and overall quality of life, often trapping them in a cycle of poverty and exclusion.
To address these challenges, Nia Technologies, a non-profit organization, has developed the 3D PrintAbility system. This innovative toolchain utilizes 3D printing technology, including digital scanners and custom software, to produce high-quality prosthetics and orthotics more quickly and cost-effectively than traditional methods.
The technology is designed for frontline orthopedic clinicians, allowing them to create custom-fitting devices. The NiaFit software streamlines the design and production process, making it accessible even in resource-poor settings.
The 3D PrintAbility system reduces production time, allowing devices to be made faster in settings with high demand and limited resources. The system also lowers costs, making prosthetics and orthotics more affordable and thus accessible to a larger population. This technology has been successfully implemented in Ukraine, Uganda, and Sri Lanka, demonstrating its effectiveness and potential for broader application.
CEO Jerry P. Evans is leading the personalized medical device startup with his extensive experience in higher management roles for various organizations. He served as President of GreenPatch Capital, an advisory service firm, for over 13 years.
Open Text Source Canada (OTSC), a non-profit organization that builds learning and research resources, was under his leadership as Chairman of the Board for 7+ years.
Evans has legal, accounting, engineering, governance, and organizational skills that he uses to protect valuable corporate IP and grow the organization.
5. Axial3D Helping in Personalized Treatment Plans with Its INSIGHT Platform
| Founding Year | 2015 |
| Headquarters | Belfast, UK |
| Total Funding Amount | $18.6 Million |
| Last Funding Round/Amount | Venture Round/$15 Million |
| Website | https://axial3d.com/ |
Medical image segmentation is essential for accurate surgical planning and the creation of patient-specific medical devices. However, traditional methods of converting 2D medical images like CT and MRI scans into 3D models are often manual or semi-manual, leading to prolonged processing times and increased costs. It causes delays in critical patient care and reduces operational efficiency in medical facilities.
To solve these problems, Axial3D has developed the INSIGHT platform. This cloud-based, AI-driven segmentation tool automates the conversion of 2D DICOM images into high-quality 3D visualizations, 3D print-ready files, and anatomical models.
This platform leverages advanced machine learning algorithms and an AWS cloud-based infrastructure to provide precise and efficient segmentation. The resulting 3D data can be used to design personalized surgical plans, models, and guides, which can then be printed using a variety of 3D printers, including those from Stratasys.
The INSIGHT platform automates processes that traditionally took hours or even days, enabling faster turnaround times and allowing medical professionals to handle more cases with the same resources. The platform’s FDA clearance further underscores its reliability and potential to improve patient outcomes by enhancing diagnostic accuracy and surgical precision.
Roger Johnston is the current CEO of Axial 3D. He has experience as VP of business development and marketing, ILG Strategy Lead, Managing Director, and consultant. He worked with organizations like Accenture, IBM, Coopers and Lybrand (now PwC), and ASE Consulting.
Axial 3D raised its latest funding of $15 Million from a venture round on 2 November 2022. Stratasys was the (only) lead investor in this round.
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Authored By: Naveen Kumar, Market Research
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