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7 min reading time
As originally asked by Giovanni Lauricella.
The Medical Device Industry is certainly a global industry, but not equally successful around the world for numerous reasons.
• Japan has a challenging/difficult regulatory system
What are you thoughts of different parts of the world’s medical device system and what makes certain parts of the world challenging for commercialization?
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Evert De Rijcker, BN, EMBA
Patrice Napoda (Monroe)
As pointed out by Mr David current market is very small but once the prices are competetive the market is very huge comparetively. Any manufacturers interested in collaborating with us for precision turned components we are open for discussions.
Robert Trinka, MBA
Tsutomu Miki Kurosawa
The issues with other international markets like China and Korea, is the protection of intellectual properties. Latain Americas markets issues are mostly economic stability and heavy discounts due to use of distributors. In the Middle East, bureaucracy, because almost all of the hospitals are controlled by the local governments.
Shohreh Behrouzi, MBA
Thomas Z. Lauritzen
But reimbursement plays a big role. With the economy as it is, it’s nearly impossible to get a new (expensive) device covered for something new as it would increase health care costs. A cost cutting device for something existing is much easier. If you can reduce a $20bn/year cost to 2bn/year for treating/diagnosing some disease (and then take that market) everybody is happy.
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