Emerging markets already represent huge growth opportunities for pharmaceutical companies. In may countries, lifespan has increased and as people live longer, they are more in need of traditional health enhancing drugs for common ailments like diabetes and cardiovascular diseases; in many countries such as India and China, as diet and lifestyle changes, there is also and increase of such diseases; and there is a huge and growing middle class that is able to spend the money, and is more conscious of health. One would presume that these same factors will also open growth opportunities for medical device companies. For instance, Medtronic expects India sales to grow 25% for the next five years and is considering setting up R&D and Manufacturing facility in India (I saw firsthand that emerging markets is a big priority for Medtronic, when I facilitated leadership and inclusion training for Medtronic team in India in 2010 – https://darshanavnadkarni.wordpress.com/category/musings/). At TiEcon 2012 (www.tiecon.org), a panel that includes Katie Szyman, President at Medtronic Diabetes, Tom Fogarty, Serial Entrepreneur, Renee Compton Ryan from J&J, and Dana Mead from Kleiner Perkins, will address trends, challenges, and opportunities presented by emerging markets, in this $350B industry. I am also looking forward to hear more about “reverse innovation”, a term coined by GE’s Jeffrey Immelt, where the innovation in new products and services is driven by cost conscious emerging markets, and is then reintroduced into the Western markets.
Mobile health panel, at TiEcon, will discuss entrepreneurial opportunities in the fast growing field of Mobile Health. Increasing reach and easy access of mobile communication devices like mobile phones,Tablets, patient monitors etc. is making monitoring of health, dissemination of health information to patient and care providers, and providing healthcare in a timely and real-time manner, possible. A panel of experts including Aza Raskin from Massive Health, Ron Gutman, CEO of HealthTap, Jack Young from Qualcomm, and Alex De Winter from Mohr Davidow will share success stories and discuss the pitfalls to avoid, in the mobile health market. This is a fast growing market which has yet many unanswered questions like, who would own the data, what would be the regulatory impact, and more.
Panelists Randall Spratt from McKesson, John Mattison from Kaiser, Adrian Rawlinson from Brown & Toland Physicians, and Jim Murray from UC Irvine Health Information Services will discuss investment trends in health IT including demographic trends, technological enablers, cost pressures, regulatory mandates and where the VCs are looking to invest, given all the challenges.
With mHealth, cross-functional collaboration, and emerging markets as the drivers of innovation, the boundaries are increasingly more flexible and TiEcon is focusing on Life Sciences, and addressing the enormous entrepreneurship and innovation that will take place by those playing with the boundaries, rather than within them. Register at http://www.tiecon.org.