some aspects of regulation protects monopolies, increases burdens on businesses trying to sell life-saving products, self-justifies bureaucracy and adds cost and delay. Other aspects of regulation prevents unsafe, scam and inferior products from endangering public safety. Both positives and negatives, to varying degrees, are in play simultaneously, given a particular product or issue. We need the FDA to not be lap-dogs of industry, not block dying cancer patients from trying almost any experimental, unapproved protocols and not taking forever to approve revolutionary therapies.
To modify James Madison's quote: "If everyone were angels, no government regulation would be needed and libertarianism would be as practical of an utopian system as communism."
It's balanced, expedient and effective regulation that is the primary duty of medical regulators.