Medtech has no boundaries. It’s a multi-billion dollar marketplace that spans the globe. And innovations and technologies are flowing in from worldwide as the industry undergoes rapid changes in patient care, legal and regulatory environment.
Medical technology and life sciences companies of all sizes are creating new and effective devices and technologies to meet the global health care needs of the population. From China to Africa, South East Asia to India, Europe to North and South America, MedTech IP and innovation are pouring into the world, all designed to create a more personalized and efficient medical health care system tailored to each patient.
Medtech companies and entrepreneurs are developing the technologies to deliver high-quality health care when and where the consumer wants it, not just in a traditional office or hospital setting. They are also creating new business models for customers, payers, and patients who wish to new technologies and devices that deliver individualized solutions to their specific health care needs. The end goal is to create a health care system that provides better quality care at a lower cost with increased access for patients worldwide.
Your MedTech company must be part of the global health care industry in today’s globally connected world. But staying ahead of the curve and seeing where the industry is going, spotting the best opportunities, and figuring out what strategy to use is challenging, especially on a global level. Rather than attempting to go direct, you can use licensing to partner and open up new international marketplaces for your medical device or technology.
No matter where you are in the world today, intellectual property and innovation are the foundation of all businesses and economies. And in the medical and health care space, the rapid pace of innovation is coming from companies around the world in response to the growing demand for new therapies and devices to meet the health care needs of the world population.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. His first book, Hidden Wealth: The Money Making Power of Licensing was released in 2019 and is available on Amazon.com. He’s also a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.