The classification of medical devices is basically based
very much on risk. Per FDA, It is generally classified into Class I, II and III
where Class III has the highest risk and warrants more control and testing like
clinical trials in certain cases.  Class
II and Class III need 510K and PMA submission respectively to be approved for
marketing.
Class III has the highest risk and FDA requires more manufacturing control, risk management and clinical trials. FDA also spends more scrutiny on this class of devices. This class requires a lot more financial resources and time to deal with. The medical device company requires to file a PMA and obtain approval before marketing.
Class II and I do not require a lot of resources as for
Class III and therefore, the money can be spend on innovation rather than
spending them on clinical trials. Clinical trial can run in the millions of
dollars and at least will take 2 years. Class II 510K approval also much
shorter about 90 days compared to 180 days for a PMA. 
Overview of the differences between a PMA and a 510(k) FDA submission is summarized in the table below:
| 
Differences | 
510K
  Submission | 
PMA
  Submission | 
| Class of Device | Generally for Class II and
  pre-amendment Class III(2). | Generally for Class III(1). | 
| Predicate Device to
  demonstrate substantial equivalence | Yes. | Yes. | 
| Clinical Study | Generally A Clinical Trial
  is not required. | The requirement of clinical
  study which might take 1 – 2 years. | 
| Review Time | ̴ 90 days. But, in reality,
  it is usually takes longer than 90 days. | An average of 1 year. | 
| Application Fee for
  FY2013(October 1, 2012 through September 30, 2013) | Standard Fee is $4960 and
  fee for small business with ≤$100 million in gross receipts or sales is $2480(3). | Standard Fee is $280K.
  Fee for small business is $62K(3). | 
1. --- Premarket
Approval (PMA), FDA website, www.fda.gov,
Updated as of 01/24/2012.
2. --- 21 CFR 58 Good Laboratory Practice For Nonclinical Laboratory, CFR 21, Volume 1,
April 1, 2012.
3. ---Premarket Notification 510(k) Review Fees, FDA websites, www.fda.gov, dated
09/28/2012.
Have any question about medical device regulation, email me at kclowblog@gmail.com
                                  Below is a picture of Magnetic Resonance Imaging 

 
KC, thank for blogging about medical device regulation.
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