Ames Gross With the U.S. economy flat and the European markets hit by a debt crisis, emerging mar

Ames Gross

With the U.S. economy flat and the European markets hit by a debt crisis, emerging markets arebecoming growth targets for medicaldevice companies. Asia, of course, presents a significant percentage of that growth. The potential market in Asia is huge. With more than 4 billion people, the region is home to two-thirds of the world’s population. To be successful in Asia, however, a different approach to business often isrequired. Companies need to be mindful of cross-cultural issues when considering expanding into Asia.

Taking the time and resources to account for local Asian business practices and culture can help ensure sustainable success. For example, establishing good relationships with local physicians and government officials might help to set the foundation for setting up research-and-development centers and clinical trials. These relationships also can be very helpful down the road during medical device registration and product launch.