Medical device market poised to hit $300B
The market for medical devices will enjoy 4 to 6 percent growth in the next few years, driving total revenue to $312 billion in 2011, a report by Kalorama Information predicted.
While the recession has hurt growth in the medical device market in recent years, with 2009 revenues valued at $290 billion, "Demand for healthcare services in emerging nations, the need for reducing hospital stays and the aging world population" will spark new growth, according to Kalorama's publisher, Bruce Carlson.
"Some categories of medical devices are commoditized and competition will hold prices in check, while in other areas revenues will flourish," continued Carlson. While hundreds of companies compete for a share of the medical device market, Kalorama said the majority of revenues will go to the top 30 companies, citing Johnson & Johnson, Siemens Healthcare, Medtronic, GE Healthcare and Baxter among them.
New York City-based Kalorama publishes medical market research in biotechnology, diagnostics, healthcare and pharmaceuticals. The report included devices ranging from MRI machines and laparoscopic surgical equipment to wheelchairs and medical gloves.
While the recession has hurt growth in the medical device market in recent years, with 2009 revenues valued at $290 billion, "Demand for healthcare services in emerging nations, the need for reducing hospital stays and the aging world population" will spark new growth, according to Kalorama's publisher, Bruce Carlson.
"Some categories of medical devices are commoditized and competition will hold prices in check, while in other areas revenues will flourish," continued Carlson. While hundreds of companies compete for a share of the medical device market, Kalorama said the majority of revenues will go to the top 30 companies, citing Johnson & Johnson, Siemens Healthcare, Medtronic, GE Healthcare and Baxter among them.
New York City-based Kalorama publishes medical market research in biotechnology, diagnostics, healthcare and pharmaceuticals. The report included devices ranging from MRI machines and laparoscopic surgical equipment to wheelchairs and medical gloves.