Identify why regulatory regimes may vary between different countries?

All regulatory policies are based on a mix of economic, legal, and public management principles. 

Yes! they vary depending upon the social, economical, cultural, political and educational environment of the country. It is also influenced by the healthcare need, disease prevalence, overall infrastructure, population and capacity of spend on healthcare by people

Regulatory regime differs been countries which projects the respective country as a viable spot for foreign and local investmemt. Tough regulatory regimes are widely known to scare away investors due to insecurity, slow and archaic systems, etc.

Regulatory regimes are control mechanisms that influence the operations of various sectors and are based on a mix of economic,legal and public management principles. they vary from country to country because these countries have to address specific circumstances of its markets politically, economically and otherwise while trying to conform to international standards.

Regulatory Regimes are usually built to adhere to global standards. The role of global standard setters has increased significantly after 2008 and driven by G20, IMF, Basel Committee, IOSCO, IAIS, IASB and FATAF. While these international standards have grown in topics covered and detail there are no two jurisdictions with 100% identical regulatory frameworks.

There is still broad scope within the international standards, to implement specific variations and apply local policies to assessments.

The reason for this divergence of regulatory regimes, is that each regime needs to address the very specific conditions of the market, the legislation and the political situation in its jurisdiction. The regulations might vary as certain business segments might not be significant, or in relation to criminal law applicable that will vary in detail from jurisdiction to jurisdiction.

A regulatory body has - by the nature of its constitution - always oversight over exactly one jurisdiction. One of its tasks is to tailor the regulatory framework in a way, so that it conforms with international standards, and at the same time allows to be most efficient in establishing a trusted market in its jurisdiction.

Better-quality regulation is a key goal of public-sector management reform and is fundamental to the functioning of society and the economy.. In the recent years, more and more countries have recognised that regulatory quality is crucial to economic performance and to improving the quality of life of their citizens; however, the pace of implementation of laws has been different in different countries. Several factors influence the regulatory affairs, e.g. competence of the authorities, willingness of pharmaceutical companies, strength of inspecting authorities on the sector etc.  By examining the experiences of other countries, regulators can identify areas where problems or impediments to reform are likely to arise, and can suggest strategies to overcome them and continue the reform process.