Technology innovation and product differentiation: that in a nutshell, says Dan Lemaitre, Global Sector Head, Health Care, for SG Cowen Securities Corp. and one of the device industry's leading experts, is the key to success in medical devices. From implantable cardiac defibrillators (ICDs) to cardiovascular stents, Lemaitre argues, the record is clear: the winners are those companies that can develop new technology with meaningful clinical benefits; the losers not only lose their technological edge, but often resort, futilely, to pricing strategies to try to hold their markets.
But what ismeaningful technological innovation and differentiation? With customers concerned about rising prices and competitors flooding the market, is the notion of, for example, a differentiated stent a strategic imperative,...
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