Technology migration in medtech markets

Western markets, including the U.S. and Europe, tend to drive the formation of new medical technology markets, which then evolve and migrate to Asia/Pacific and the rest of the world.  While this is not always the case (a notable exception is the technology and market development of fibrin and other blood-based tissue sealants technologies, which substantially took hold in Japan first), it is often the case due to the level of innovation in these markets, available capital for investment and, in no small part (and to the ire of the cost conscious) the high percent of gross domestic product spent on healthcare, especially in the U.S.

One of the most well established markets for cell therapy and tissue engineering products, and second only to orthopedics, is in the area of skin or integumentary applications — treatment of burns, diabetic and venous ulcers and plastic and reconstructive surgery.  As an example of the trend of U.S. markets driving innovation, the market for cell/tissue products in skin applications has been dominated by the U.S., and the recent past trend in reported revenues geographically, which is certainly going to continue, is that the U.S. will represent a progressively smaller share of this global market.

Source: MedMarket Diligence, LLC; Report #S520.