Medical Technology: Markets, Policy, and Strategy

Catalog description

Medical technology represents a $500 billion global market that sits at the intersection of engineering, medicine, and business. This course provides a comprehensive examination of the economic forces and business strategies that drive this dynamic industry. We explore how medical devices move from innovation through commercialization, analyzing the unique market structures and economic incentives that shape success and failure. The medical technology sector operates under distinctive constraints that differentiate it from other healthcare markets. Each innovation must navigate complex regulatory requirements, demonstrate value to multiple stakeholders, and develop sustainable business models within healthcare delivery systems. Through this course, students will gain insight into how companies evaluate market opportunities, develop pricing strategies, and build evidence to support technology adoption. A central focus will be understanding the economic relationships between key players: device manufacturers, healthcare providers, insurers, regulators, and patients. We examine how payment systems influence technology development, how market dynamics affect innovation incentives, and how successful companies build competitive advantages. Special attention is given to emerging technologies and new business models that are reshaping traditional medical device markets. Through case studies drawn from real market experiences and and hands-on analyses, students will develop practical frameworks for evaluating medical technology opportunities and understanding this vital sector of the healthcare economy.