Introduction

The continually growing demand for healthcare products and services, as societies strive to extend the length and improve the quality of life of their citizens, necessitates the introduction of various healthcare-related innovations to address such needs. The quest to find tomorrow's cures and their applications is the quintessential force that drives the pursuit of medical technology innovation. As emerging and middle-income markets rise in economic prominence, their growth and policy agendas include expansionary paths that pursue economic development, often in the form of capital investments in innovation-driven industries. In addition, these countries seek to pursue broad initiatives in social welfare, such as expanded access to healthcare for their entire populaces.

In the context of such global focus on enabling improved access to quality healthcare, optimizing the role that medical technology can play is central to helping patients live longer and better lives, while providing cost-effective healthcare. As emerging economies continue to experience growing economic prosperity, they are increasingly faced with challenges regarding how best to meet the increasing demand for healthcare services. This demand is fueled by rising incomes, increasing prevalence and incidence of chronic diseases, and increased access to new treatments, including market-appropriate medical technologies.

The burden of chronic diseases, most notably those resulting from metabolic and cardiovascular disorders, is a challenge that is faced not only by developed nations but by middle- and lower-income countries as well. In fact, according to the World Health Organization (WHO), approximately 80 percent of chronic disease-related deaths occur in low- and middle-income countries (see Figure 16.1).