Mr. Nexon: The Advanced Medical Technology Association is the largest association of medical device and diagnostics companies in the United States and I think in the world. We have about 1,300 members and they make 90% of the products sold in the United States and about 50% of the products sold worldwide.
TWST: When you say a medical device, that's a very broad scope.
Mr. Nexon: Yes. The companies we represent make everything from tongue
depressors to the most sophisticated MRIs and PET scan machines; they make the
cardiac implants, artificial hearts; they develop the diagnostics that make the
orthopedic products, the artificial hips and knees; they make wound care
products. You name it, if it's used in medicine and it's not a drug, pretty much
our companies make it.
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.
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