Boston Scientific Case Study: Barriers To Medical Devices In France
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BARRIERS TO NEW ENTRY- Very High
In order to distribute or export the medical devices in France, the company must have local agents or distributors. All the medical devices that are brought in France (imported) or manufactured domestically are required to attain following requirements:
- All medical devices should obtain the CE mark
- the directions for use in France MUST be enclosed in French.
The barriers are also high because the amount of expenditures involved in research and development of the products is very high. Even the regulatory and legal restrictions are very stiff making it even harder for the companies to enter the market easily. It is compulsory to get approval by FDA which is very difficult to obtain. Even for the established companies in the market, it may take several years to get the approval.
And for the small companies or the start-ups, the barriers to…show more content… The formal procedure for developing products and technology help them to offer and manufacture unconventional products in effective and timely manner. Early action by the cross-functional team in basis of Boston Scientific’s product development cycle. The collaboration by the teams helps them to concentrate resources on the most achievable and clinically important products and technologies which in turn helps them to market the products on time and on most cost-effective manner. Moreover, despite the internal development of the products, Boston Scientific works with hundreds of leading research and development institutes, clinics and universities around the world to evaluate, develop and clinically test the products. Since emerging markets are growing every day, Boston Scientific is planning to expand their collaborations in research and development teams in these countries. This will help the teams to develop the products at much lower cost which still can meet both global and local