Navigating For Faster Market Access
As a leader in the purchase and use of medical devices, North America represents a very profitable entry market for global electromedical device manufacturers. However, these opportunities also come with significant challenges, particularly pertaining to securing the appropriate product approvals. With regards to growth, a 2016 Lucintel report states that North America is expected to remain the largest market due to the high rate of aging population with multiple chronic diseases and stringent government regulation related to healthcare. Regulatory practices, along with social, political, and economic factors can make understanding the requirements for acceptance into the North American market challenging.