NANOTECHNOLOGY DEVICE MARKET COULD LANGUISH WITHOUT ADEQUATE FDA FUNDING
Devicemakers can expect a slow approval process for devices that employ nanotechnology unless the FDA gets more funding to regulate the emerging field, experts say.
The agency does not have the resources to address the potential risks and benefits of nanotechnology -- even as research in the field is accelerating, said Michael Taylor, a former FDA deputy commissioner for policy, in an Oct. 5 report issued by the Woodrow Wilson International Center for Scholars.
Without the ability to fully research the risks of using nanomaterials in a device, the agency might miss a safety issue, which could lead to long delays in the premarket approval review process, Taylor said.
Devices have particular potential to benefit from nanotechnology advances as stronger and more highly functional materials become available for a range of implantable devices, prostheses and diagnostics, said Taylor.