OrthoTec Europe Conference to Highlight Opportunities in Emerging Markets
During a conference session at OrthoTec Europe 2012, Hervé Reignac, CEO of BioStep, (Bordeaux, France) and Council Member, Gerson Lehrman Research, will moderate a session on the challenges and opportunities in emerging markets. The rapid growth of emerging economies such as Brazil, Russia, India and China represents an opportunity for medical device companies to offset the slow growth in mature markets, says Reignac.
“The device market in developed territories such as the United States, Europe and Japan has reached saturation and the outcome of economic recession has restricted the growth in these countries over the past two years,” Reignac says. “Increased sales to emerging markets during the next several years are in fact expected to help offset some of the anticipated cutbacks in major developed healthcare markets, so companies integrating these new realities into their business strategies should be hugely successful.”
Companies entering and operating in these markets must tackle multiple challenges, however, such as differences in culture, reimbursement and regulations. Operating in an emerging market also means facing increased competition from low-cost players and pressure to reduce costs, Reignac says.
“The former business model is changing, based on the dual fact that the developed markets will demand better ROI on the healthcare spend and the emerging markets are highly price sensitive,” says Reignac.
“Companies in the healthcare industry will have to adopt a new economic and business model where the cost of bringing products to market is significantly reduced, profit margins and prices will be dropped down and global access to products and clinical evidence is increased.”
The session on emerging markets will take place on 12 October 2012, the opening day of the two-day tradeshow.
- Serdar Omur Goren, Vice General Manager at Sayan Orthopaedics (Izmir, Turkey)
- Ajay Pitre, Managing Director, Sushrut Surgicals Pvt. Ltd (Mumbai, India)
- Zeli (Scott) Yu, Vice President, Healthcare Service & Medical Device Regulatory Affairs, Shanghai Hail Fellow (Shanghai, China)
- Caroline de Mareüil-Villette, European Patent Attorney, ICOSA (Paris, France)