Asia Pacific Medical Technology Association (APACMed) was launched in April 2015 as the unified voice of the medical technology industry in Asia Pacific. They are the first and only regional medical technology association that is headquartered in Asia, solely focused on matters of interest in Asia and the Pacific. The members represent the vast diversity of the medical technology ecosystem- from pacemakers and orthopaedic implants, to in vitro diagnostics and high volume disposable devices, to large imaging equipment such as CT’s and MRI’s.
Member companies include Abbott, Baxter, B. Braun, BD (Becton Dickinson and Company), Boston Scientific, Cardinal Health, GE Healthcare, Johnson & Johnson, Medtronic, Philips, Siemens, Stryker and Zimmer. APACMed was formed to address the unmet needs of two-thirds of the world’s population that resides in this region.
Their mission is to improve the standards of care for patients through innovative collaborations among stakeholders to jointly shape the future of healthcare in Asia Pacific. They do so by engaging with patient organizations, governments, regulators, payers, healthcare providers and others to shape policies that give patients timely access to quality healthcare in both developed and developing markets.
In December 2015, APACMed held a two-day conference- the Asia Pacific MedTech Forum 2015, the region’s leading event for medical technology professionals to address issues driving the industry and how innovation and collaboration are vital to help solve the unmet healthcare needs of people in Asia Pacific. During the event, McKinsey&Company presented the white paper report which examined and analyzed the opportunities and challenges facing the medical technology industry in the region and recommended areas where the industry can collaborate to drive change.
In a two-part series, biotechin.asia will feature key members of the APACMed committee and bring forth the highlights of the recently concluded APACMedTech forum.
Fredrik Nyberg, CEO of APACMed
Fredrik brings 30 years experience in the medical technology industry, 24 of which were spent in AsiaPacific. Fredrik has also worked extensively with start-up medical technology companies both as advisor and as venture capitalist. He was most recently Senior Director and medical technology Practice Lead at Quintiles Consulting, based in Singapore.
How has the response been to APACMedTech Forum this year? What were the objectives behind starting this?
The response from the inaugural Asia Pacific MedTech Forum has been absolutely outstanding and we saw close to 500 attendees over the two days! Feedback has been really positive and delegates found this the perfect setting to come together and exchange ideas around the medical technology industry.
We created the Asia Pacific MedTech Forum to serve as a unique platform that allows key stakeholders to come together to address how we can collaborate to shape the future of the medical technology industry across access, innovation and collaboration.
We were honored to have a truly extraordinary line-up of speakers: We had McKinsey-moderated panels of regional medical technology CEO’s; we had senior regulators, former ambassadors, academics, heads of NGO’s and hospital chains among others sharing insights and discussing a broad range of healthcare topics.
What are the key outcomes from the conference?
In the coming weeks, we will be working closely with our member companies to discuss panel recommendations, next steps and identify potential work streams. What’s key is that this is a two-way relationship, and companies also make a commitment to be active members of APACMed and join our working groups, engage in the dialogue and help us shape the medical technology industry in the region. We will also be taking the feedback and ideas that came out of this year’s forum to build a very exciting programme for the MedTech Forum 2016.
You have experience in this industry for over three decades. Where is the MedTech industry heading to? What will the focus be on?
These are very exciting times for medical technology. Firstly, we are seeing the convergence of technologies across the spectrum – nanotechnology and drug delivery; big data analytics and patient monitoring; 3D printing and personalized medicine; robotics and miniaturization; telemedicine and frugal point-of-care imaging. The list goes on. The benefits to patients in Asia Pacific will be enormous. As an industry we need to ensure these patients have timely access to new life-changing technologies.
Secondly, we see medical technology innovation shifting to emerging markets in general and to Asia in particular. China and India are set to become the new innovation powerhouses in medical technology. Gone are the days when Asian device companies produced nothing but low-tech me-too products.
The focus of the medical technology industry in Asia is shifting to address the needs of a rapidly growing middle class with chronic, non-communicable diseases and an ageing population.