The Medical Devices market is one of the largest in the Healthcare industry (after Pharmaceuticals). It has a number of branches such as orthopedic instruments, medical equipment, diagnostic aid, medical supplies, and surgical instruments. The increasing demand for healthcare services across the globe is driving the growth of the medical devices market and making it a lucrative one for global healthcare players.
Global Medical Device Market by Sub-Segmentation 2011
Source: Technavio Analysts
There are more than 20,000 medical device companies globally with the top 25 companies accounting for more than 60 percent of the total sales. The market is experiencing a year-on-year growth rate of around 4 percent.
The leading countries in this market are US, Japan, Germany, UK, and France. Fast growing markets include China, India, and Brazil. The medical device market is undergoing technological advancements, especially in the field of stem cells and nanotechnology.
The focus on stem cells and nanotechnology has strengthened the impact on tissue and bone regeneration in the orthopedic market. This in turn has the potential to replace the whole system of ‘nuts and bolts’ such as screws, pediments, joint implants, devices, etc., that are made out of metals and alloys, with biomaterials such as scaffolds made out from stem cells of the same patient. Several life science companies are emerging in this area, especially in Israel, US, Canada and Germany.
We believe there is a huge potential in this technology and that the market will likely grow over the next four years.
In recent BIOMED 2011 conferences held in Malaysia and France, more than 50 percent of the Israeli companies that participated focused on stem cells related research in medical devices.
Technavio has a number of reports in this area covering market trends, R&D investments especially in the area of stem cells and orthopedics and major global companies that play a key role in this market.
Find more relevant orthopedic device exporters on BizVibe
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