Originally
Published MX March/April 2002

BUSINESS PLANNING
& TECHNOLOGY DEVELOPMENT

Globalization
101

For
medtech manufacturers, the challenges of selling in multiple markets are complex—but
essential.

Andres Heuberger

As
the U.S. market for medical devices matures and grows more competitive each
year, many device manufacturers are looking overseas for customer and revenue
growth. Fueled by booming overseas economies and relaxed export regulations,
exports have been growing by about 10% per year throughout the 1990s. As a result,
today you'll find all types of medical device companies —large and small,
across all categories—participating in the export boom.



That means all is well on the export front, right? Well, not quite. While the
"global economy" may have arrived, there are many bumps in the road,
and horror stories are commonplace. International regulatory submissions are
time consuming and compliance officers are struggling to keep up with ever-changing
international standards. Cost overruns are rampant, and international profit