Medical technology broadly defined to include all aspects of the
process of treating disease (e.g., pharmaceuticals, medical
devices, and surgical procedures) is profoundly important for
individual health and, consequently, also for general welfare.
Advances in medical technology convey the prospect of both improved
population health and increased general welfare. However, because
of the extensive regulation of the markets for healthcare goods and
services, the development and application of medical technologies
differs fundamentally from non-medical technological advances. In
this volume of the "Advances in Health Economics and Health
Services Research" series we present several papers that provide
theoretical and empirical evidence about the market for medical
technology.
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