Industry closely scrutinized FDA's premarket review performance as the agency took steps to streamline reviews and remake the U.S. postmarket surveillance system. Meanwhile: device mega-mergers accelerated; one of the most hotly anticipated medtech innovations faltered; and national elections swept in Republican control of Congress. Here is a look back at coverage and analysis from "The Gray Sheet" on six key themes for the medical device and diagnostics industry in 2014.

Device funding increased 123% to $1.6 billion in Q2, and M&A activity was overshadowed by Medtronic’s massive $47 billion acquisition of Covidien. Diagnostics fundraising dropped slightly to $522 million, and there were multiple takeovers of life sciences companies.

The increasing prevalence of MIS and the opportunity for greater MIS penetration in existing procedures translate into significant growth potential for the MIS products market in the years ahead. Despite some challenges, device manufacturers are driving growth in the market by targeting key procedures and geographies with new robotic surgery systems and robotic-like technologies designed to enable more complex procedures to be performed via an MIS approach.