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The State of the Medical Device Industry

The State of the Medical Device Industry. James V. Mazzo President, Abbott Medical Optics Chairman of the Board, AdvaMed. April 14, 2010 . Overview. Who We Are Key Industry Issues Medical Technology Industry Horizon. 2. Who We Are. Bringing Innovation to Patients for Life. 3.

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The State of the Medical Device Industry

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  1. The State of the Medical Device Industry James V. Mazzo President, Abbott Medical Optics Chairman of the Board, AdvaMed April 14, 2010

  2. Overview • Who We Are • Key Industry Issues • Medical Technology Industry Horizon 2

  3. Who We Are Bringing Innovation to Patients for Life 3

  4. Who We Are A Crown Jewel of the American Economy • 357,000 employees • $22 billion in salaries • Each med tech job generates 4.5 additional jobs • Med tech jobs on average pay 30% more than the average U.S. job 4

  5. Who We Are Thriving Under a Delicate “Innovation Ecosystem” Regulation Funding International Markets Reimbursement 5

  6. Key Industry Issues 6

  7. Regulatory Issue: • 510(k) process targeted • FDA leadership aggressive • Congress critical • Media persistently negative Goals: • Maintain and improve 510(k) as a viable path to market • Provide constructive recommendations, continue cooperative, positive relationship with FDA 510(k) 7

  8. Reimbursement Issue: • New payment modalities under health care reform legislation • Value-based purchasing • Bundling • Accountable care organizations Goals: • Ensure early adopters are not penalized • Prevent disincentives for more novel, more expensive products • Preserve physician & patient product choice 8

  9. International Issue: • New regulatory systems in emerging markets • Specific challenges in Japan and China Goals: • Promote global harmonization efforts • Japan: Push for stable reimbursement and streamlined regulatory systems • China: Urge focus on value, competition and international standards 9

  10. Medical Technology Industry Horizon 10

  11. Medical Technology Industry Horizon Projected U.S. Population 65 and Older: 2010 to 2050 88.5 In Millions 2010 2015 2020 2025 2030 2035 2040 2045 2050 Source: Population Division, U.S. Census Bureau 11

  12. Medical TechnologyIndustry Horizon Growth in Chronic Disease 12 Source:Wu, Shin-Yi and Green, Anthony. Projection of Chronic Illness Prevalence and Cost Inflation. RAND Corporation, October 2000.

  13. Medical Technology Industry Horizon U.S. Quality Gap Proportion not Receiving Recommended Care Source: McGlynn et al “The Quality of Health Care Delivered to Adults in the United States” NEJM June 26, 2003 13

  14. Thank You! James V. Mazzo President, Abbott Medical Optics Chairman of the Board, AdvaMed April 14, 2010

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