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The Business of Healthcare Innovation. Lawton Robert Burns, ed.

Edited volumes focused on one specific industry or sector are rarely of interest to a general audience of organizational scholars, but this volume may be the exception that proves the rule. The book addresses the supply side of innovation in healthcare and examines in detail the structures and markets surrounding the development of innovations in pharmaceuticals, biotechnology, genetics/proteomics, medical devices, and information technology. Each of these sectors is similar in the level of risk (high) involved in bringing new products to market, they are all capital-intensive, and they are all growing sectors of the healthcare market, using strategies such as merger and acquisition (M&A), vertical integration, and diversification. They are also all increasingly interdependent, research intensive, and technologically complex. They differ, however, on a number of dimensions related to time (development cycles, age of firms, age of the sector, expected product impact as short or long term), and space (local vs. global dominance).