Kalorama Information, a research institute for healthcare market, recently released a new version of its research report, Global Medical Device Market. It is predicted that in 2011, the global medical device market will reach US$312 billion. MRI apparatus, laparoscopic surgical equipment and medical gloves will be the fastest growing product category in the global medical device market in the next few years.
Kalorama Information's report is based on industry conferences, medical device markets, and major company annual reports.
The report also predicts that in the next few years, the global medical device market will grow at a rate of 4% to 6% (the global medical device market reached 290 billion U.S. dollars in 2009). Due to the global economic recession, the growth rate of the medical device market has slowed in the past few years. However, as the economy recovers and the demand for healthcare services from consumers in middle-income countries in emerging markets grows, the medical device market will continue to grow. . However, while there are hundreds of companies competing in the global medical device market, the main beneficiaries may be only the top 30 companies in sales.
Bruce Carlson, publisher of Kalorama Information, said: “The rising demand in emerging markets, the need to reduce hospital stays, and the arrival of an aging society are all potential drivers of growth in the medical device market. Some medical devices are becoming more routine and more competitive. Prices will also be relatively stagnant, while other device products, such as patient monitors, oxygen systems, and household analyzers, which can reduce hospital stays or can be easily used in the home, are expected to grow faster."
Kalorama Information's report is based on industry conferences, medical device markets, and major company annual reports.
The report also predicts that in the next few years, the global medical device market will grow at a rate of 4% to 6% (the global medical device market reached 290 billion U.S. dollars in 2009). Due to the global economic recession, the growth rate of the medical device market has slowed in the past few years. However, as the economy recovers and the demand for healthcare services from consumers in middle-income countries in emerging markets grows, the medical device market will continue to grow. . However, while there are hundreds of companies competing in the global medical device market, the main beneficiaries may be only the top 30 companies in sales.
Bruce Carlson, publisher of Kalorama Information, said: “The rising demand in emerging markets, the need to reduce hospital stays, and the arrival of an aging society are all potential drivers of growth in the medical device market. Some medical devices are becoming more routine and more competitive. Prices will also be relatively stagnant, while other device products, such as patient monitors, oxygen systems, and household analyzers, which can reduce hospital stays or can be easily used in the home, are expected to grow faster."
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