Technology has always played an important role in medical science by contributing to health care development. The use of technological instruments helps diagnostics of normal and pathologic states; and thus leads to a better understanding of human physiology. Once a diagnosis is established, a suitable treatment or surgical intervention can be considered, according to the available clinical capacities. In the last four decades, research in biomedical engineering science has led to the manufacturing of cutting edge medical instruments. For example, the introduction of endoscopes into surgical practice is considered one of the biggest success stories in the history of medicine. However in order to develop appropriate medical instruments or procedures, one key issue for successful biomedical research is the ability to understand in an efficient way the requirements of the medical practitioners. Furthermore, the two main actors namely biomedical universities and the biomedical industry involved in the development of new technologies need to collaborate and cooperate to a greater extent. This paper discusses the role and the process of knowledge flow between the various stakeholders involved in the design of medical instruments. The aim is the delineation of a general framework facilitating the understanding of the technical and medical requirements in order to develop new tools and methods.