Johnson & Johnson medical, Singapore : new product development through university technology transfer

Abstract

New product development in biomedical device industry is a very complex process due to the presence of stringent regulatory requirements (e.g. FDA), intellectual property battles and complex nature of market where highly influential intermediaries (medical doctors) not only make product selection for end users (patients) but also contribute to product development. As a result, only a few technological innovations succeed in reaching the market and fewer become commercially successful. Hence many medical device companies are observed to be actively seeking new sources innovation, which includes universities and users. This notion is bolstered in Singapore due to government's emphasis on biomedical research and increasing attempts to transfer university innovations to the industry.