Medical device producers in the United States and Europe continue to record impressive, profitable growth, but face challenges, according to the "Pulse Of The Industry: Medical Technology Report 2012", Ernst & Young's annual report on the industry's performance which was presented this week at AdvaMed 2012.
"The medtech industry continues to show impressive perseverance and resilience in weathering the challenging global economic climate," said Glen Giovannetti, Ernst & Young's Global Life Sciences Leader. "Longer-term, many in the industry will face significant challenges to find sustainability against the headwinds of rising pricing pressures, expanded use of comparative effectiveness, and the ongoing efforts to find new efficiencies in the global health care system. To meet these challenges, companies will need to be as innovative in the development of new business models as they have historically been in product development."...