Global medical devices market: China and India offer strong growth opportunities

Press Release   •   Jul 03, 2013 11:33 BST

A slim majority of respondents to our survey across the global medical devices market have claimed to be 'more optimistic' about revenue growth for their company during 2013. However, as a result of the currently volatile state of the market, different rates of growth are anticipated between developed markets in the US and Western Europe, and the emerging markets of Asia-Pacific and Latin American countries.

Respondents in our extensive survey identified China and India as offering the highest opportunities for growth among emerging markets. This will primarily be driven by the expansion of business activities in these markets, together with stronger economic growth than other regions of the world. Furthermore, changing consumer lifestyles, increased penetration of medical insurance products, and a rise in disposable income have increased the demand for quality healthcare services, which in turn is expected to increase the demand for medical equipment and other support services.

Singapore, Taiwan and Hong Kong, the US, the UK, Germany, and South Korea have been identified as the most important regions for growth amongst developed markets. Although concern over the implementation of healthcare reforms in 2013 has reduced growth optimism in the US, growth prospects are still high amongst developed countries. With an increase in the aging population, high unmet medical needs, and increased incidence of lifestyle diseases (including cardiovascular diseases, diabetes, hypertension, and obesity), the US medical device industry continues to grow at a brisk pace.

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