Our other special focus this week is on the Invest Northwest Conference 2008. We spoke to David Nexon of the Advanced Mecial Technology Association- who handles medical devices and diagonostics, and will be presenting at the conference. He talked to us a little about where medical devices are headed:
TWST: As you look at the field at this point, what’s important? What’s going on that’s kind of changing the face of things at this juncture?
Mr. Nexon: First of all, there is, as you know, a revolution in our basic understanding of biology and the life sciences and that obviously impacts a highly technological very innovative industry like ours. We’re producing ever more sophisticated products to deal with the many illnesses that affect humanity. In addition, in the broader context of the health system, there are increased pressures for cost containment in the United States, and we’re anticipating a big effort for a sweeping health reform next year. Every country in the world is looking at cost containment issues. So certainly it’s important for our industry to make the point that we’re not a problem in the medical care system, we’re really a part of the solution. It’s our products that fuel the medical progress that so many American patients, current and future, hope for and depend on.
Worldwide, I think some of the trends that are important are the growth of a number of emerging markets, which are really just in the process of formulating their regulatory and reimbursement systems and working with them at the formative stage is terribly important for the long-term future of the industry. I’m thinking particularly of China and India, but there are other emerging markets around the world too. In terms of volume and sales right now, they’re still relatively small, but they’re clearly where the future lies.
For the complete interview with Mr. Nexon, including an overview of how medical devices will change with the change of adminstration, and stock picks, click here.