Environmental Scan 2017: Human Capital Issues within the Medical Devices Sector
4 Best Practices in Other Countries
Ipsos conducted a benchmarking exercise with seven countries to understand their key
success factors within the Medical Devices industry. The areas that we looked into include:
Government policies and incentives that help drive the growth of the medical devices
industry
Research and development initiatives within the industry
Specific areas of specialisation both in terms of medical devices and talent
Availability of talent pool to drive the medical devices industry with specific focus on
the type of training programmes available
The seven countries were the United States (US), Japan, Germany, Ireland, Costa Rica, South
Korea and Singapore. The US, Japan and Germany are countries which were ranked top
twenty in the Near-Term Medical Device Export Market Rankings of the 2016 ITA Medical
Devices Top Markets Report. Ireland and Costa Rica were selected due the track record when
it comes to medical devices, the growing number of medical devices companies and the
availability of a wide range of diverse and experienced talent pool within these two countries.
South Korea and Singapore have initiated numerous initiatives related to the development of
the medical devices ecosystem, along with strong partnerships with a number of international
educational institutions to develop their talent pool within the industry.
Benchmarked Countries
i)
United States
Description
Overview
The United States (US) is the largest MedDev market in the
world with a market size of more than $150 billion in 2017.
The US also has the largest per capita expenditure within
the healthcare space.
In 2015, the US controls more than 40% of the global
medical device market and remains a major exporter of
innovative medical devices to the rest of the world.
The United States has more than 7,000 medical device
companies with annual sales of more than USD 110 billion
per year.
Some of the key players within the Medical Devices
landscape in the US include Baxter, Beckman Coulter,
Becton Dickinson, Boston Scientific, GE Healthcare
Technologies, Johnson & Johnson, Medtronic, St.
Jude and Stryker Corporation.
Most of these medical devices companies in the US are
based out of California, Massachusetts, New York and
Minnesota.
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