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Emerging Markets Are Gaining Ground in Medical Technology Innovation; U.S. Maintains Lead, Finds PwC's Medical Technology Innovation Scorecard
Date:1/18/2011

nScorecard">innovation ecosystem evolves, it creates challenges for those countries and companies that have ridden this wave – and offers opportunities to those, in the U.S. and around the world, who find themselves well-positioned to adapt to new modes of innovation."

The Innovation Scorecard examined where each of the nine countries evaluated stands in relation to five broad "pillars" that have supported medical technology innovation in the U.S. for the past several decades: Powerful financial incentives, such as reimbursements for adoption of new technologies; resources for innovation, such as academic medical centers; a supportive regulatory system; demanding and price-insensitive patients; and a supportive investment community of venture capitalists and other investors.

The Innovation Scorecard indicated that the innovation ecosystem itself is moving offshore as the nature of medical technology innovation evolves. Some of this transformation is being driven by changes in the U.S., such as more expensive, less-predictable FDA regulatory approvals, an increased focus on value and cost-effective solutions in healthcare and increasingly international investments in R&D. Other dynamics are the result of changes abroad, including factors as diverse as investment in local academic medical centers; investment in research programs; the return of foreign-educated scientists and doctors to their homelands; advancement of mobile health technologies that expands access to care; and a focus on the lean, frugal and reverse innovation necessary to deliver faster, better, cheaper and more effective healthcare solutions in these markets.

As a result of these many factors, medical technology companies increasingly are going outside the U.S. to seek clinical data, new-product registration a
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SOURCE PwC
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