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What Recession? How Biomedical Device Companies Thrived in a Bad Economy
Date:1/31/2012

NEW YORK, Jan. 31, 2012 /PRNewswire/ -- The biomedical devices industry grew, invested, and prospered from 2007 to 2009, flouting an overwhelming trend that saw many of the world's largest companies collapse during the worst economic climate since the Great Depression. How did they do it? A new analysis of this industry from WTP Advisors, the global tax and business advisory firm, reveals three key traits that helped recession-proof the top independent biomedical device makers around the world, and determines whether or not their success is sustainable over the long-term.

The study is published in the current online edition of the biomedical industry journal MD+DI.

"In short, our study shows that the best of biomedical device makers succeed by making very little, very well, for sale at very high prices," says lead author, Yair Holtzman, director at WTP Advisors and Global Life Sciences practice leader.

The authors looked at 25 of the top independent biomedical device makers worldwide[1] and analyzed their business strategies, financial results, marketing investment, product portfolios, and research and development to better understand what drove growth and profitability in a time of worldwide downturn.  They found three common characteristics shared by the most successful of the 25 firms that appeared to contribute to their growth during the recession, and are still a factor today, including:

  • High Value-Added Manufacturing: Building advanced technology products in developed markets while adding a very high level of value to base costs has and will continue to do well for this sector.  For highly differentiated products sold as customized solutions, the U.S. and Europe have been great places to establish and grow businesses.

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SOURCE WTP Advisors
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