Interestingly though, I recently came across a few articles that paint a relatively rosy picture for innovation in medtech so far. For example, this Thomson Reuters report called out the medical device industry for the fastest growth in innovation (measured by patent activity) between 2010 and 2012. Medical devices were ranked 6th overall for the volume of patent activity. Medical devices were just a bit behind pharmaceuticals in 5th place pharmaceuticals had 60,890 patents in 2012 compared to 60,300 for medical devices. This article from MD+DI also discusses how R&D spending increased in medtech in 2010 and 2011, although it cautions that the growth rates were lower than pre-recession levels and that the excise tax might also have a negative effect (no surprise there). But I do think that it's a positive point that innovation in medtech has so far been on the increase maybe the worst these new rules can do is flatten the growth rate a bit, without bending the curve downward.
We'll have to wait for 2013 numbers to know for sure.