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1 results

  • 1 - The biomedical device and drug industry and their markets

  • Shreefal S. Mehta
  • Book:
    Commercializing Successful Biomedical Technologies
    Published online:
    03 November 2022
    Print publication:
    17 November 2022, pp 1-41

  • Summary

    The vast world of biotechnology applications to human health is reviewed and the terminology used in the rest of the book is defined here. An overview of the industry, the value chains, the specific types of human health products covered in this text are presented in this chapter. A time-tested way to analyze an industry’s attractiveness for new entrants is presented here using Porter’s five forces model. Technology trends such as mobile health, artificial intelligence, 3D printing, cell and gene therapy, and robotics are presented to the reader in the context of the mission of improving human health. The overall process of development of new products in these various segments of drugs, devices and diagnostics sectors is reviewed here. The reader will leave this chapter with a 30,000-foot view of the industry dynamics and understand the context within which product commercialization is to be done.