@Zbw2 made an interesting point about market competition as a motivating factor for quality. A company wants to make sure their product is better than all the competitors, so they will be concerned with quality. While I think this is a valid point, what happens when there is no competition? What comes to mind is the case with epipen, they charged an absurd amount because they had a monopoly on the market. While this was not an issue of quality, it shows that an outside regulating agency is necessary and market competition is not sufficient.