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Industry Overview

The Medical Technology Marketplace:

Surviving volatile economic times and continuing to prosper
While the economy has experienced significant blows in the past year—with the demise of numerous Internet start-ups and the swift deceleration of information technology growth—the medical technology industry remains strong. Currently, medical manufacturing represents a global market of $169 billion, and is growing at an annual rate of about 7%. U.S. medical device and diagnostics manufacturers account for $75 billion, or 47% of the world's total. And the U.S. industry continues to enjoy a positive balance of trade, currently estimated at $7 billion.

Why is it that even in these uncertain economic times, forecasts for medical technology look so optimistic? Several factors, such as consumer demands, improved regulatory climates, and new treatment opportunities all play a role in the industry's continuing market growth. Overall, economic experts and industry professionals agree...the future for medical technology looks very promising.

Societal pressure to lower healthcare costs
In recent years, there have been several political movements toward improving access to healthcare while keeping costs to a minimum. Increasingly, consumers are viewing this as their societal right. Medical manufacturers are stepping up to the plate, continuing to improve the delivery of healthcare services while lowering overall costs. The payback benefits are many, and can be measured in terms of disease prevention or early detection, less-invasive medical procedures, shorter hospital stays, faster recovery periods, and a lesser economic burden on society.

Some examples cited in a recent report from the Washington, DC—based Advanced Medical Technology Association (AdvaMed) include the following:
• Advances in medical technology have resulted in a steady decrease in Medicare disability claims, now declining 1.5% annually and resulting in significantly less outlays than forecasts of just a few years earlier.
• While the recent cost of living rose 3.4%, the cost of medical technology products and services actually declined by 0.8%.

Whether seen in the latest imaging systems for more timely and accurate diagnoses, minimally invasive surgical devices and support systems, rehabilitation products that give a new lease on life to patients with disabilities, or countless other examples, new advances in medical technology continue to provide tangible benefits to medical professionals, healthcare consumers, society, and the overall economy.

An improved regulatory climate and the move to international standards opens more markets
In recent years, medical device manufacturers have enjoyed a much more cooperative and productive relationship with FDA. Device approval times, although still short of statutory guidelines, have improved dramatically. As U.S. manufacturers continue to focus on world export markets, their products must meet a myriad of standards and regulations. Here too, progress has been significant with the harmonization of European markets, and the growing movement toward mutual recognition agreements (MRAs) between and among international standards organizations.

As new and emerging opportunities for medical technology continue to grow, Canon is in the forefront, keeping professionals abreast and ahead of the latest industry advances, trends and developments.

Opportunities for medical device manufacturers... and their suppliers
An aging baby-boomer generation
One of the largest factors contributing to growth in medical technology is the rise in elderly populations around the world, particularly in the developed, industrialized nations. In order to control the inevitable increase in healthcare costs and evolving needs associated with booming elderly populations, there will be an increasing demand for new medical products as well as new healthcare delivery modes.

The shift toward home healthcare
Special needs of the elderly are also influencing society's shift toward home healthcare. Burdened with the rising costs and inconvenience of doctor's visits, more and more people are opting for less-expensive, home-healthcare alternatives. In response, manufacturers are ushering in a new wave of products designed for the burgeoning home healthcare, personal care/testing, and alternative-facility markets.

Medical research brings new technology
Much of today's medical research is influencing the growth and direction of new product development. Some of the areas that will experience significant growth include:
• Tissue engineering: Research continues in the development
• of artificial organs from laboratory-grown bone, cartilage, blood vessels, and skin, which will enable the repair or replacement of failing organs or aging body parts.
• Nanotechnology: The coming revolution in molecular manufacturing will, among other breakthroughs, enable medical product development professionals to design microscopic robots that will travel the bloodstream and explore internal organs on missions of diagnosis and repair.
•Electronic medical records and clinical connectivity: ;Economic analysts expect the medical industry to be transformed by the movement to develop and integrate point-of-care clinical connectivity systems, and the emergence of the electronic medical record, into enterprise-wide healthcare information systems. This movement will be greatly facilitated by the recent passage of the Health Insurance Portability and Accountability Act (HIPAA), which begins to take effect in 2002. Electronic medical device manufacturers will play a pivotal role in integrating hardware, software, and communication protocols to ensure medical network interoperability.
• Smart medical devices: The post-PC era of pervasive computing will continue to usher in a new generation of medical products that incorporate the latest advances in data capture, memory, storage, portability, and information-sharing capability, including "hot swappable" interfaces and wireless technology.

eHealthcare
Demand for information technology remains high within the medical technology community. The Internet is rapidly emerging as the de facto medical information-sharing standard among healthcare providers, patients, and payers. Electronic device design will essentially mandate a common gateway interface to the Internet. Concerns about the integrity and security of medical information over hospital intranets, extranets, and the Internet will benefit both the information and medical technology industries by presenting enormous opportunities for developers of bulletproof encryption and public key infrastructure (PKI) systems.

As these new and emerging opportunities for medical technology continue to grow, Canon Communications is there in the forefront, keeping medical product development professionals abreast and ahead of the latest industry advances, trends, and developments. Over the past 22 years, Canon has paved the way for medical technology information exchange with its expanding array of publications, trade shows, conferences, and digital media products. Medical technology professionals have come to know Canon as a true leader, and rely on its products to stay informed and ahead of the competition. That's why only Canon is equipped and committed enough to effectively deliver your advertising messages to the manufacturers you need to reach.

Canon Communications:
The next generation of medical technology starts here:
Before just about any new medical device makes its way to the marketplace as a finished product, it is invariably seen first on the pages of Canon's medical industry publications, explored in a conference session, demonstrated on the exhibit floor, or discussed in an on-line forum.

Through its industry-leading publications, conferences, trade shows, and Internet sites, Canon provides an enabling array of information products where the next generation of life-saving and life-enhancing medical technologies spring from concept to marketplace reality. Whether it's an article on microelectronic circuitry for medical robotics, a conference session on biomaterials, an exhibitor demonstrating the use of computer-driven production equipment for close-tolerance precision components, or an on-line forum discussing regulatory compliance issues, Canon's multimedia information products cover every aspect of the medical device industry.

The next generation of medical technology does indeed start here, as it has since Canon introduced Medical Device & Diagnostic Industry magazine in 1979, and continues today as the Canon family of medical device information products grows to meet the demands of this dynamic industry.

If you're looking to present your product or service to the world's largest and most qualified audience of active medical technology development professionals, Canon's got the market covered...with seven highly focused medical technology publications, the leading trade shows, and the platform Web site for the medical device industry.

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