China, India, and Brazil are gaining ground in their ability to make the latest medical technology innovations, and may surpass developed countries in innovative healthcare delivery over the next decade, according to a PcW report published this week.
PwC's Medical Technology Innovation Scorecard: The race for global leadershipfound thatgrowth in these emerging market economies isattracting innovation resources and activity, allowing these countries to take the lead in developing a new generation of small, faster, more affordable medical devices.
"A confluence of social, demographic, economic and technology changes is altering the dynamics of the medical technology field," said PwC analyst Mike Swanick. "As a result, ecosystems that promote medical technology innovation – with supportive elements such as access to financing, scientific knowledge and patient interaction – are being established around the world, These changes are creating opportunities for companies – and entire nations – that are able to adapt to a rapidly evolving environment."
The PwC report assessed the capacity of nine countries to adapt to the changing nature of innovation: Brazil, China, France, Germany, India, Israel, Japan, the United Kingdom and the United States.