Companies recruiting Asian executives need to do double the due diligence than is customary for hiring a Western executive.
The device tax, regulatory scrutiny, and a failure to address unmet clinical needs are among the reasons that the United States will fall behind other major markets.
Johnson & Johnson holds firm that it will continue to accelerate in the innovation department over the next year.
The market value for transcatheter heart valves will exceed $3 billion by 2020, and adoption of next-generation valves will drive significant market growth, provided that positive clinical data continues, according to research and consulting firm GlobalData.
Cardinal CEO George Barrett has said that the company may make more acquisitions in cardiology and endovascular treatment as well as in the trauma and wound care segment.
Uber has taken the struggling, often unloved taxi industry and reinvented it successfully based largely on one premise: Customer is king. In stark contrast, the healthcare industry clearly does not seem to share this mantra.
There are great opportunities for foreign medical device companies in China as the people want better healthcare, the government is increasing access to healthcare, and the market is growing between 15 and 20 percent per year. But access to the marketplace is harder than ever. Why?
Access to recently developed materials, new technological deliveries and access to new markets are only a few of the trends that have affected changes in the medical device market and industry.
In this interview Brian Williams, Director, Healthcare Strategy and Innovation at PwC, talks about the impact of med-tech trends such as outcomes based reimbursement, lessons learned in emerging markets, and impact of the device tax.
A good understanding of and appreciation for Asian cultural traits is essential to building strong relationships with Asian executives. Business in Asia will be more likely to thrive if a Western medical device executive is able to overcome these challenges.