Med tech companies form Asia Pacific association

  • Will work with governments, policymakers, and other healthcare stakeholders
  • Industry growing 10% annually, expected to reach US$71bil this year
Med tech companies form Asia Pacific association

SEVERAL companies in the medical technology industry have formed the Asia Pacific Medical Technology Association (APACMed), focused on advancing patient care.
The association will improve access to high quality healthcare for patients by collaborating with governments, policymakers, and other stakeholders to create innovative solutions and jointly shape the future of healthcare in the region, it said in a statement.
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, to be headquartered in Singapore, was formed to address the unmet needs of two-thirds of the world’s population that resides in this region, it said. The industry is growing at an annual rate of approximately 10% and is expected to reach US$71 billion this year.
“This is the first time we have combined our efforts to drive access, innovation, and collaboration in order to benefit patients in Asia Pacific,” said APACMed chairman Vladimir Makatsaria.
“We welcome medical technology companies and associations with a similar vision to join us,” he added.
APACMed said it will strive to make an impact on policies that advance patient access to quality healthcare.
The association will engage in key areas such as the regulatory environment, ethical business standards, and compliance; and will help the industry promote innovation and talent development in the region.
In addition, it will strive for the sustainable development of products and services to address the unmet healthcare needs of the region.
“With the dynamic healthcare landscape, greater collaboration is needed to solve mutual healthcare challenges in innovative ways,” said James Lim Leong Ching, board member and president, Greater Asia, BD.
“We want to make modern, innovative, and reliable technologies available to patients in Asia Pacific,” he added.
Med tech companies form Asia Pacific associationNewly-appointed APACMed chief executive officer (CEO) Fredrik Nyberg will work with the industry and its partners to demonstrate the value of innovation in medical technology, promote regulatory harmonisation, encourage sustainability, and establish a voluntary code of ethics.
“As members of the global healthcare community, it is our responsibility to ensure patients have access to the most innovative, life-changing healthcare solutions,” he said.
“It is our hope that APACMed will be a unifying voice for the medical devices and in-vitro diagnostics industries in Asia Pacific,” he added.
The association said it will host the first Asia Pacific Medical Technology Forum in Singapore from Dec 9-11. More information about this event will be available soon.
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