Devices & Diagnostics

Report: Global market for medical devices to reach $350 billion by 2016

Growth in developing countries and demand for cheaper, more efficient products will drive the value of the global medical device market to $350 billion by 2016, a new report predicts. Espicom Business Intelligence’s new analysis on the outlook for the medical device industry worldwide predicts the global market will grow 5 percent annually until 2016. […]

Growth in developing countries and demand for cheaper, more efficient products will drive the value of the global medical device market to $350 billion by 2016, a new report predicts.

Espicom Business Intelligence’s new analysis on the outlook for the medical device industry worldwide predicts the global market will grow 5 percent annually until 2016.

It’s not earth-shattering news, but the report reinforces the notion that China, India and Brazil are the fastest-growing regions among developing countries. We’ve already heard big players like St. Jude and Medtronic express their intentions to expand operations in India. GE Healthcare and Boston Scientific have said the same about China, with its large aging population.

Economic growth, government funding and reform, and more disposable income within the middle class will also fuel growth, the report says.

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