In sharp contrast to much talk of late that medical device innovators are worried about their future in a world where some say the risk/reward formulas are being affected by healthcare reform, taxes, and emerging mandates from the FDA, Johnson & Johnson recently released information about …new products, robust pipelines, expanding geographic presence, and other strategies that will sustain the long-term growth of the company’s largest business segment in a $350 billion, worldwide medical device and diagnostics market.
According to an Associated Press (AP) report about J&J’s comments, their medical devices and diagnostics unit has received more than a dozen regulatory approvals so far in 2010 and plans to launch 80 new products through 2012.
What’s the point? Well, some might say that this proves that only companies with very deep pockets can thrive in the changing world of medical device product innovation. Others may say J&J is being reckless? Knowing what we know about the several entities that comprise J&J’s medical devices and diagnostics unit, this conclusion isn’t warranted. Instead, I think it is more likely that this means the global requirement for medical device innovation is alive and well and may even be accelerated by improved regulatory and healthcare reform developments. How do you see it?
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