Kalorama: Global Medical Device Market Reaches $360B
New York, NY /PRNewswire/ – The world market for medical devices reached $360 billion in 2014, according to Kalorama Information. Growth has been fair, driven by increases in healthcare spending in emerging markets. Device companies are expected to focus on these import-heavy markets moving forward. The sixth edition of the healthcare market researcher’s report, The Global Market for Medical Devices, covers the broad range of the medical device market, coinciding with a number of changes in the medical device market.
A major merger between Medtronic and Covidien has changed market share position, and Kalorama says that merger was not unique. Companies in the device market are merging to build revenue growth and present combined offerings to hospital and physician customers. In Europe as well as the United States, there are reimbursement challenges and the threat of new legislation looms. The emerging markets of countries such as Brazil, Turkey, South Africa, Chile and Mexico have helped to boost sagging revenues.
The report can be found at Kalorama Information: http://www.kaloramainformation.com/redirect.asp?progid=87491&productid=8983360.
“It’s a scattered market – any item from a nuclear camera or catheter to a latex glove can be considered a medical device – so estimates vary,” said Bruce Carlson, Publisher of Kalorama Information. “Not more than forty companies earn most of the revenue in this market and much of the revenue is earned in a few key categories. Still there is opportunity for innovators.”
Market leaders include Medtronic, Johnson & Johnson, Siemens, GE Healthcare, Philips and Roche. Although the largest component of the market is in the United States, the majority of sales are non-US, and growth is occurring in other markets. Companies in the market remain optimistic and seek innovation.
The Global Market for Medical Devices examines specific device markets, describing trends and major companies in many fields. The report addresses device category segment markets, analyzing these to help render the total market for medical devices visible. As part of its market analysis, the report includes discussion of :
- Total Market, 2014-2019
- Market by Region 2014
- Health Expenditure as Share of GDP, Select Countries
- US Market Forecast, 2014-2019
- Significant Country Device Markets (United States, Japan, Germany, China, France, United Kingdom, Italy, Spain, Chile, Canada,Australia, Mexico, South Korea, Turkey, Brazil)
- Estimated Revenues of Medical Device Market by Competitor
- Corporate Profiles
There are many estimates of the medical device market as a whole that have been published using various methodologies – export and import sales, unit estimates and price averaging – but Kalorama Information considers estimates of manufacturer revenues the most important and valid methodology for business planning. In many of the largest device markets, Kalorama Information has already conducted studies and has examined manufacturer revenue estimates, rendering the total market visible. This report was assembled using data from Kalorama Information’s previous medical device reports. Primary and secondary research was used. Research into company annual reports, trade publications, government and medical literature was used as a foundation. Interviews with executives at medical device companies were conducted and are a key source of estimates.