Medical technology industry expects to grow by addressing specific needs in emerging markets

This report covers the present scenario and the growth prospects of the Global Medical Technologies market for the period 2014-2018.

Medical technologies are defined as any healthcare products that are used to prevent, monitor, diagnose, treat or assuage any disease or injury. Ranging from simple sticking plasters and sutures to 3D imaging systems, artificial limbs and diagnostic tests, the medical technology market was valued at about USD 327 billion and was forecasted to reach USD 424.5 billion in 2015. Even if affected by the economic meltdown in 2008, the growth had been stronger.

This report, Global Medical Technologies Market 2014-2018 provides an overview of the present scenario and the growth prospects of the Global Medical Technologies market for the period 2014-2018.

Market overview

The medical technology industry is now looking forward in finding approaches that will cater to each market accordingly. They are also developing customized growth strategies to penetrate them, and tailoring the products according to the local needs. The challenge however, is in the limited visibility of globalised manufacturing and distribution chains that has led to increased risk. Also, medical technology industry trends showed that companies in emerging markets are increasingly seeking to leverage cost and quality as a competitive advantage. These companies are also following a multi-channel approach to ensure that it addresses to all the market needs. Most of the products are offering a range of products that come with brands and increased functionality and brands with a reduced set of features at a low cost. To better address their challenges, medical technological companies have also started operating in the global and networked environment.

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