Medical device
manufacturers have identified “emerging markets” as their principal source of
revenue growth in the coming years. However, during the last Economist’s Health
Forum in Boston, major academics and industry’s players discussed the risks and
challenges associated with rising demands in these countries.
The discussion explored a growing concern that the healthcare model in
the United States and Europe isn’t sustainable or even necessary to meet the
healthcare needs in many cultures. These nations will need to create a “more of
an outpatient-oriented and prevention-oriented delivery system” that will
require behavioral changes by physicians and patients.
“(...) replicating a hospital-based system in
less-developed nations requires not only new infrastructure, but wholesale
change in the behavior and practice of patients and physicians. (...) also
demand a financial investment that even Western nations are having difficulty
paying(...)” Peter Berman, a professor at Harvard University’s School of Public
Health
Victor Joseph Dzau, MD, president of the Institute of Medicine brought
an academic, clinical, and corporate perspective. He stated that every culture
is different and needs specific solutions. “You won’t succeed unless you are
really on the ground and really understand the culture”. Device companies must
create local solutions to local problems in order to succeed.
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