The biomedical device and drug industry and their markets

Shreefal S. Mehta

doi:10.1017/9781108186698.002

1 - The biomedical device and drug industry and their markets

Published online by Cambridge University Press: 03 November 2022

Shreefal S. Mehta

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Shreefal S. Mehta: Affiliation:
The Paper Battery Company

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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.

Keywords

value chain Porter’s Five Forces industry analysis biotech medtech medical devices emerging technology trends artificial intelligence robotics digital health digital therapeutics 3D printing virtual reality augmented reality artifical intelligence machine learning mobile health

Type: Chapter
Information: Commercializing Successful Biomedical Technologies , pp. 1 - 41

DOI: https://doi.org/10.1017/9781108186698.002 [Opens in a new window]

Publisher: Cambridge University Press

Print publication year: 2022

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References

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