Environmental Scan 2017: Human Capital Issues within the Medical Devices Sector
Benchmarked Countries
Description
Program which provides grants to small and medium-sized companies in targeted industries to support internship programs with a goal of transitioning interns to full-time employment in Iowa upon graduation. For every two dollars of wages earned by the student, one dollar paid by the employer is matched by one dollar from the Iowa Economic Development Authority( IEDA) and up to $ 3,100 per intern
Future Direction �
The focus moving forward within the medical devices landscape is with 3D printing. Many companies are trying to capitalize on 3D printing to help develop customized medical devices such as dental implants, orthopaedic implants, prosthetics and hearing aids. This models at the initial stage are developed for training and learning purposed. Some of the companies actively involved with 3D printing in the US include 3D Systems Corporation and Stratasys Ltd.
ii) Japan Overview
� The Japanese medical device market is valued at more than USD 45 billion as of 2016.
� The demand for medical devices in Japan is rising considerably due to the increasingly ageing population and the growing number of patients with chronic and life-style diseases. 25 % of the Japanese population is aged 65 and above
� In Japan there is an increased demand for specific medical devices such as those that alleviate pain, complement lost functions and improve the quality of life. Some of these medical devices include interventional cardiology equipment, pacemakers, orthopaedic implants, home care, preventive care, and innovative technologies
� Some of the key players within the medical devices space in Japan include Terumo, NIPRO, Olympus Medical Systems, Toshiba Medical Systems, Hitachi Medico, Nihon Koden, Fukuda Denshi
� The entry barrier into the Medical Devices market in Japan is high due to the stringent regulatory process which is also lengthy and expensive. So it only enables large corporations with resources to push through the
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