THE ROLE OF INNOVATIVE TECHNOLOGIES IN MEDICINE

Investment in medical technology innovation has enabled significant advances in patient care. An understanding of the dimensions and measures of innovation is critical in fully assessing the implications of many policy initiatives under debate. This article presents several indicators of inputs and outputs associated with medical device innovation, including public- and private-sector research and development investment, patent activity, product regulatory clearance patterns, and market acceptance trends. Changes in these selected indicators point to a potential shift occurring in both the nature of and the investors in the innovation process.