DALLAS, March 26, 2012 (GLOBE NEWSWIRE) -- The Global Medical Device industry has experienced significant growth over the last five years and is expected to continue, reaching approximately US $302 billion in 2017 with a CAGR of 6.1% during next six years (2011-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the Global Medical Device industry and presents its findings in "Global Medical Device Industry 2012-2017: Trend, Profit, and Forecast Analysis."
The Medical Device industry is comprised of surgical, cardiovascular, home healthcare, general medical, and other devices. The industry is highly fragmented, and North America dominates with 46% of the global market. High competitive rivalry prevails with low to moderate barrier for entry into the industry.
Increased global competitiveness and government regulation and a lack of qualified manpower are some of the challenges facing the Medical Device industry. As per the study, technological advancements may lead to nanotechnology applications and use of surgical robots as a new segment entering the Medical Device industry. These new segments are expected to improve the prospects for the market. Infrastructural development such as construction of hospitals and clinics and urbanization is expected to drive the growth of the Medical Device industry to new horizons.
APAC is projected to grow at the highest CAGR during forecast period. India and China are expected to be the driving countries.
The Cardiovascular segment is anticipated to witness growth due to an increase in the number of heart patients. Surgical and Infection Control and General Medical Devices are the most lucrative segments for companies in APAC.
Lucintel's report is a cost-effective tool that depicts an overview of the Global Medical Device industry. The report tracks five industry segments for four regions – thus it tracks twenty segments. The scope of this study is limited to annual trends for past five years and forecasts for next six years. This report includes a study on the Medical Device industry but does not include orthopedic, in-vitro diagnostic, technical aids, and other equipment.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com . Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com
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