APACMed Kicks Off Asia Pacific MedTech Forum 2015

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Dr. Axel Baur, McKinsey and company presenting the white paper report on MedTech 

The Asia Pacific MedTech Forum 2015, the region’s leading event for medical technology professionals, starts today in Singapore with the theme Pioneering a Healthy Future Together.

Hosted by the Asia Pacific Medical Technology Association (APACMed), the two-day conference will address issues driving the industry and how innovation and collaboration are vital to help solve the unmet healthcare needs of people in Asia Pacific. For the full agenda, visit medtechforum.asia.

The findings of a new study on the medical technology industry was shared at the conference by global management consulting firm McKinsey & Company. The white paper examined opportunities and challenges for the medical technology industry in Asia Pacific and recommends areas where the industry can collaborate to drive change.

Some of the key points of the report were: APAC will outgrow the European Union to be the second-largest market for MedTech by 2020; there is a significant need and growing demand for healthcare in APAC driven by factors such as aging, population boom, morbidity; at the current pace of workforce capacity creation, some APAC countries will not reach developed market levels until the next century.

“The forum comes at a critical time in the Asia Pacific region, where two-thirds of the world’s population live but the majority of healthcare needs remain unmet. The medical technology sector, valued at US$400 billion globally provides innovative solutions to help address these challenges,” said Fredrik Nyberg, Chief Executive Officer of APACMed.

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“Our region is diverse and filled with complex healthcare challenges. APACMed is uniquely positioned to provide a unified voice for the industry to shape policies. Only through partnership and collaboration can we make a real difference.”

A series of plenaries and breakout sessions will address topics around the regulatory environment, innovation, policy and talent. Other panel highlights over the two days include The Future of Medical Education, Disruptive Innovation in Healthcare and the CEO Roundtable on Shaping the Future of Healthcare.

Singapore is a leading hub for innovation in the medical technology sector. To date, Singapore is home to more than half of the top 30 medical device companies and the sector has created more than 10,500 jobs – making it the ideal location for the inaugural forum.

“Singapore is committed to support the growing medical technology sector in the region and we are honoured by APACMed’s decision to host its inaugural MedTech Forum in Singapore. Singapore will continue to invest in talent and collaborative platforms to enable the development of new healthcare solutions and business models for Asia and beyond,” said Kevin Lai, Executive Director, Biomedical Sciences and Consumer Businesses, Singapore Economic Development Board (EDB).

The MedTech Forum 2015 has also hosted a full-day Pre-Conference Workshop for small and medium-sized enterprises (SME’s). Jointly organised by the Medical Technology Association of Australia, the Singapore Manufacturing Federation–Medical Technology Industry Group and BioSingapore, the workshop aimed to provide guidance to the SME community around topics such as product design and development, intellectual property, regulatory requirements, fundraising and commercialization.