Neovasc Reducer: A Qualitative Analysis

Genicon is a firm with ten years of domestic experience and some actual global success. Genicon was successful in America, but it quickly understood that it would be hard for them to have viable growth, because the health care buys medical equipment through GPOs. As a small firm it was tough to obtain a contract from GPOs since their financial arrangement encouraged them to buy equipment from big companies. Consequently, Genicon decided to go global and catch growing demand there. It became the smallest firm to sell products to European clients with the assistance of BSI. Genicon is already in over thirty international markets and is looking in particular at the rapidly emerging markets - Brazil, Russia, India and China - as potential new opportunities

Globalization in healthcare is a topic that has been the subject of many debates worldwide. While practically the entire world is becoming a global village due to globalization, the healthcare industry was considered to be invulnerable to this trend. This was attributed to the fact that healthcare is a service industry, where service is delivered on area of purchase. However many developments not only in the healthcare industry but in the entire economical sphere as a whole have seen the aspects of globalization. As a result globalization in the healthcare industry is a common phenomenon in the contemporary world. As the healthcare industry across global boundaries becomes increasingly intertwined,

One technological change that may have the largest effect on our lives today is the rapid growth of medical technology development. Three main effects that medical technology has impacted our modern society are prolonging lifespan, improving quality of health care and promoting nation’s economic growth. The three stages of medical technology are review by regulatory agencies, technology assessments by insurance carriers, and review by purchasers, clinicians, and consumers. Review by regulatory agencies is the most recognized of the three stages and is administered by the Food and Drug Administration (FDA). The FDA is responsible for protecting and promoting public health by regulating pharmaceutical products and medical devices. Each product must go through a series of approvals, clinical trials, and post market surveillance protocols in order to ensure its safety and effectiveness. www.nap.edu

In addition, use of provincial standards developed by CIHI, Infoway, will make easy vendors’ job and help standardization process. I do think that meeting requirement of supporting multiple standards is good idea; however vendors should try to keep the system as simple as possible to use, to not discourage and raise resistance among health care providers. EMR systems have to meet requirement to support multiple standards across the country in order to be able:

Mexico has a total of twelve free trade agreements that include 44 countries. Mexico exports an estimated $370 billion worth of products each year. Their top exporting partner is the United States who they export 70 percent of their exports to. Next is Canada who they export a mere 5.4 percent of their products to. Third on the list is Spain who they export a little over 2 percent of their exports to. Their top export is crude petroleum which totals out to over $45 billion a year, or 13 percent of their exports. Their second most export is automobiles which totals out to approximately $31 billion a year or 9 percent of their total exports. The third most exported product in Mexico is computers which come in at 5.4 percent of their total exports or approximately $19 billion. Mexico is also the top exporter of a few products such as silver, beer, and

Currently Brazil is the largest market for products and services for health in Latin America, with annual expenditures of approximately U.S. $ 107 billion. This figure is comparatively higher than other countries to which Genicon can expand its operations. In addition, the health expenditure showed an average annual growth of 15.6%, while GDP growth has averaged 2.4% per year for Brazil which implies a sustained growth in demand for endoscopy instruments. The figures for the healthcare market in Brazil, shows that the profile of the healthcare market of the country is comparable to the healthcare market in the United States around 1965, in terms of growth rate and a proportion of total spending. Thus, Genicon can reasonably expect to grow with the rising wave of the healthcare market.

It is essential to work through qualified representative or distributor when developing the Brazilian market. Some firms establish an office or joint venture. Medical products in Brazil are highly regulated by a local government authority (ANVISA) which acts as a counterpart of FDA, although ANVISA has its own regulations but the international certification is generally accepted. A joint venture is highly recommended for the GENICON to produce the medical devices locally. The biggest challenge for the Brazilian market is the high fragmentation. There are approximately 3000 importers and distributors as a result several multi-national companies preferred a joint venture with the local

MD International is a private company that distributes medical equipment to government institutions, agencies, and hospitals in countries located in Latin America and Caribbean. The main reasons why MD International decided to work with this region were the falling trade barriers and governments’ investments on the healthcare Industry. Companies that act as intermediaries between buyers and sellers of different countries, such as MD International, provide a variety of valuable services for their vendors. Vendors can rely on MD International because they have a deep knowledge and understanding on the Latin America market and the regulations they need to comply with. Additionally, manufacturers can increase their sales and profits without spending the time and resources they would use if they were to develop a market themselves. They want MD International to export their products because it helps them bypass government rules and regulations, market research, and other costs that could arise. By giving MD International the power to export their products, they focus more on manufacturing.

Overview: Johnson & Johnson (J&J) operates in 265+ companies throughout 60+ countries, with a workforce of 126,500+ employees throughout three business segments (Johnson & Johnson, n.d.). From 2006-15, J&J’s total sales improved from $50.5 to $70.1 billion, and total net earnings climbed from $10.1 to $15.4 billion (Johnson & Johnson 1, n.d.). The medical device* segment amounted to 35.9 percent of 2015 total revenues (Johnson & Johnson 2015, n.d.). This analysis shall review the supply, demand, and market equilibrium, as well as production costs and the market structure, for an artificial hip implant.

Furthermore many technologies in the medical equipment industry are within a higher price range and are always changing. Due to the constant updating of medical equipment

This allows GEMS to employ low-cost talents. Since different markets would share different need and structure in medical industry but they still have some common needs and principles on product features, hence, R&D and product design are partly centralized to effectively utilize human capital and cost, and partly localized to meet the different needs and structures of medical industry in different markets.

Mexico is the top trading nation in Latin America and the ninth-largest economy in the world. No country has signed more free trade agreements – 33 in all, including the two biggest markets in the world, the US and the EU. Altogether these signatory countries make up a preferential market of over more than billion consumers. Much of the FDI in Mexico is attracted by the country’s strategic location within the North American Free Trade Agreement, which has positioned it as a springboard to the US and Canada. Other attractions are competitive production costs and a young, skilled workforce, together with political stability and an open economy.

3M’s diversified range of products provides opportunities for the company growth. The medical industry is expected to grow from increase from 17 percent to 22% in next 5 years (3M Corporate Headquarters, 2016). Hence, 3M could expect to leverage its products in new markets that would sustain its profits (3M Corporate Headquarters,

In this mini-case we will look into 4 key aspects such as Mexico’s key economic indicators, the causes of the country’s balance of payment problems, policies in

New Advances in medical technology has allowed hospitals and facilities to diagnose and treat their patients better. Acquiring a new machine for a facility not only means the hospital is up to date with technology standards but it also means it can save countless lives and improve the quality of life of patients. Improve the quality of care to the patient has become the main motive for hospitals and facilities when treatment their patients. Insurance companies are also changing the way of payment focusing in quality of care. This is why is important for a facility to not only have the necessary equipment to treat patients but also to be innovative and achieve patient’s expectations in a high quality of care environment. The hospital is in