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Globalization in the Medical Device Sector - Thomas M. Loarie, Mercator - MedSystems
 

Globalization in the Medical Device Sector - Thomas M. Loarie, Mercator - MedSystems

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Thomas M. Loarie, a speaker at the marcus evans Medical Device Manufacturing Summit Spring 2012 and Medical Device R&D Summit Spring 2012, on prospering in the competitive medical device sector.

Thomas M. Loarie, a speaker at the marcus evans Medical Device Manufacturing Summit Spring 2012 and Medical Device R&D Summit Spring 2012, on prospering in the competitive medical device sector.
Interview with: Thomas M. Loarie, Executive Chairman, Mercator - MedSystems

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    Globalization in the Medical Device Sector - Thomas M. Loarie, Mercator - MedSystems Globalization in the Medical Device Sector - Thomas M. Loarie, Mercator - MedSystems Document Transcript

    • Globalization in the Medical Device Sector challenges, as there has been a Are medical devices becoming more reduction in capital available for early portable? stage companies. The Healthcare Reform Act is placing a In addition, there are product strong focus on Accountable Care development issues with the FDA. Organizations, forcing doctors, clinics While many medical device executives and physicians to work together, as a speak of the need for predictability and continuum in patient care, as they will transparency, capital and time to share the financial risks and rewards of market are their key concerns. each patient. Patients are moving out of assisted care and back into the home US manufacturers have been able to setting, which will lead to a need for shorten time to market by re-locating smaller and more efficient devices.Interview with: Thomas M. Loarie, clinical research to Europe and AustraliaExecutive Chairman, Mercator - and now are shifting to emerging Looking forward, pharmacies and drugMedSystems markets, such as South America and stores will become major access points Asia. The globalization that has come in healthcare with regards to blood tests from this has created immense and shots.“US medical device manufacturers competition. The Chinese governmenthave been able to shorten time to has stated that it wants to be the world Organizations will start making wirelessmarket by re-locating clinical research leader in medical technology by 2020, and small devices for drug stores toto non-US markets like Europe and and is providing incentives and has use, putting the viability of largeAustralia, and now to emerging pricing protection polices that are laboratories in jeopardy.markets, such as South America and making it difficult for companies outsideAsia,” says Thomas M. Loarie, Executive of China to price competitively. We willChairman, Mercator - MedSystems. The begin to see innovative and affordable Capital andglobalization of the medical device products coming out of Asia that will beindustry has created a great deal of a major threat to US companies.competition, making it difficult fororganizations to keep up, he adds. Why are companies choosing manufacture devices offshore? to time to marketA speaker at the upcoming marcusevans Medical Device Manufacturing Companies with labor intens ive are key concernsSummit Spring 2012 and Medical processes are always looking forDevice R&D Summit Spring 2012, production workers that are paid atLoarie discusses why companies are re- lower rates, in countries such as Mexicolocating clinical research and and Costa Rica. Ireland, however, is What is your outlook on the future?manufacturing. bidding for US high-skilled What should medical device manufacturing and is providing tax executives prepare for?What does it take to prosper in incentives for automation processes thattoday’s competitive marketplace? require engineering support. Medical device manufacturers must pay more attention to the HealthcareThe medical device manufacturing It is becoming more and more attractive Reform Act, as there are major plansand research and development (R&D) to manufacture offshore, as the FDA is underway for re-structuring the system.sectors are extremely complex. Young imposing heavy taxes on medical A single healthcare bill can make orc o m p a n ie s ar e f ac i ng f in a nc ia l products. break an organization.
    • For more information please send an email to info@marcusevanscy.com or visit The marcus evans Summits the event websites below: group delivers peer-to-peer information on strategic matters, Medical Device Manufacturing Summit Spring 2012: professional trends and www.medicalmanufacturingsummit.com breakthrough innovations. Medical Device R&D Summit Spring 2012: www.medicalrdsummit.com Contact Please note that the Summit is a closed business event and the Stacey Melvin, Journalist, marcus evans, Summits Division number of participants strictly Tel: + 357 22 849 400 limited. Email: press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsManufacturing COO Summit - www.manufacturingcoosummit.comTo view the web version of this interview please click here: www.medical-summits.com/ThomasMLoarie