Environmental Scan 2017 | Page 157

Environmental Scan 2017: Human Capital Issues within the Medical Devices Sector Benchmarked Countries Description regulatory process and have a strong hold on the Japanese medical device market Talent Development Initiative  Japan Biodesign Program (JBP) o Osaka University, The University of Tokyo and Tohoku University have developed a partnership with Stanford University in order to establish Japan Biodesign o The output from Japan Biodesign is then implemented by Osaka University’s Graduate School of Medicine and the Global Center for Medical Engineering and Informatics, The University of Tokyo’s Medical Innovation Initiative, and Tohoku University Graduate School of Biomedical Engineering o The core aim of this program is to develop the “Problem solving type” of innovation based on identification of clinical needs  iii) Germany Tokyo Science Center o The Tokyo Science Center is the home to Johnson & Johnson’s research and training facility. This hub is their Global hub of medical device field which they also use to train healthcare professionals as it is equipped with the state of the art medical equipment. Overview  Germany is the 3 rd largest medical device exporter in the world with their market capitalisation valued at approximately USD 26 billion as of 2016.  One of the key strength of the German medical devices market is product innovation, which leads to their medical devices being highly sought after sorted globally. Out of the 12,474 patent applications worldwide related to medical technology in 2015, nearly 12% of them were from Germany. 57% of the patents application from Germany were approved. This provides Germany with international visibility and opportunity to implement and develop new innovative medical devices 157