Global market analysis praised
WASHINGTON, D.C. - The Advanced Medical Technology Association (AdvaMed) commends PricewaterhouseCoopers for undertaking an independent analysis on international market conditions that can create access to, or barriers for, medical device innovation. The firm provided an update on the ongoing study, "Device Innovation Scorecard: Comparing Global Innovation Factors in Selected Countries Relevant to Medical Device Companies," during the 2010 International Medical Device Industry Compliance Conference being held this week in Berlin. The final report will be released later in 2010.
The goal of the study is to better understand the ability of patients to access innovative medical technology in their own countries and assess relative effectiveness of policies in each country studied to create a positive environment for medical technology employment and growth. Approximately 100 key metrics such as overall regulatory environment, demographics and R&D expenditures, will be used to determine a score for each of the nine markets included in the study: Brazil, China, France, Germany, Israel, India, Japan, United Kingdom and the United States.
"Medical technology companies provide patients world-wide with cutting-edge therapies that save lives and enhance quality of life while lowering overall health care costs," said James V. Mazzo, president of Abbott Medical Optics and chairman of the board of AdvaMed. "The information provided by this study will be critical in understanding how our industry can best work with ministers of health and other government leaders to ensure patients around the world have timely access to these innovative technologies."
"The data reported in this study will help provide insights about how countries commercialize innovative medical technology in the nine markets profiled and evaluate each country's policies affecting innovation in our industry," said Stephen J. Ubl, president and CEO of AdvaMed. "We anticipate the Scorecard will stimulate countries to improve the overall climate for medical technology companies and continued innovation."
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. Our members produce nearly 90 percent of the health care technology purchased annually in the United States and more than 50 percent purchased annually around the world. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org
