In this report, the Asia-Pacific Nerve Monitoring Devices market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
Join QY Research analysts to explore the latest IT Trendsview upcoming webinars
Global Medical Devices Market Analysis
The worldwide medical devices market is expanding fast. Its value was predicted to touch the revenue mark of 227 billion dollars by the end of year 2015 from 163 billion dollars in year 2010. It marks the yearly growth of about 8.1% as per the current market research report.
As with many of the market segments, the medical devices market segment was also affected due to the global recession although it had not impacted the overall growth of the market segment. Minor firms, unable to pick up the slack of product growth prices formerly covered by investors and venture capitalists and made more vigilant by the fiscal slump were obliged to annihilate their activity. However ,few other small companies choose to merge with bigger firms, thereby continuing technical advancements without bearing full cost burden. Regional and global mergers & acquisitions permit cross border sharing of knowledge and resources promoting constant innovation in medical technology in spite of competitive economic or fiscal conditions.
Greater challenges posed to medical devices section includes taxes on items in the foreign markets plus inconsistent & drastically changing foreign rules and changing standards of execution.
Geographical Market Share
The medical devices market covers a broad range of products utilized in treating patients that includes diagnostic equipments, cardiovascular instruments, dental devices, medical devices , medical supplies, respiratory equipments, ophthalmic equipments, surgical devices and orthopedic equipments.
Geographically speaking, USA , lying in sub continent of North America, is the market leader holding 40% market share of the global medical devices market. It creates half of the global market demand for medical devices industry. Countries like India, China, Korea and Taiwan lying in APAC region and Brazil lying in South America are the future competitors of USA.
USA was forecasted to touch the revenue margin of 140 billion dollars in year 2013 as per the market reports.
While demand for medical devices in developed economies like Canada, European Union, Japan and US remain stable with annual growth rates ranging between three to five percent, developing nations are proved to be profitable for US exports, with heavy demand from markets sectors of China and India. Significant population and healthy fiscal growth of China makes it an growingly promising niche market. India is also considerably seen as a potential export market for the US medical devices section owing to the increment in its rich population along with a strong blending of its private healthcare systems.
Today, medical devices market of Holland and Germany in Europe offers tough competition to United States.
Medical devices market study displays that the market sector is expected to grow further in future with USA retaining its top spot. The US will continue to lead the medical devices industry owing to use of cutting edge technology and heavy demand from emerging markets Like China and India. The medical devices market is growing by and large on account of rise in aging population across the globe and growing risk factors. Particularly, diet related chronic ailments like cardiovascular ailments and diabetes continue to generate demand for medical devices market sector.
Equally, the requirement for medical devices continue to increase, with average life expectancy rising nearly about more than 20 years since last fifty years. Between 2000 and 2050, developed regions will witness an increase of about 34% in population of senior citizens (those persons who have crossed the age of 60 years). As per the UN report on ageing population , by the end of 2050, life expectancy will reach 80 years of age for almost sixty percent of the universal female population. This geriatric population along with its life pattern related ailments is the assurance of growing market demand for the medical devices sector.