Irving, Texas (PRWEB) September 07, 2012
Increase in GDP, government support, and increase in per capita income is expected to drive the demand for medical equipment industry. The global industry experienced good growth during the last five years and is expected to continue its growth momentum, reaching approximately US$93.6billion in 2017 with a CAGR of 4.1% over the next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global medical equipment industry and presents its findings in “Global Medical Equipment Industry 2012-2017:Trend, Profit and Forecast Analysis.”
The governments in many Asian countries are ramping up efforts to increase medical insurance coverage and establish more hospitals. North America is expected to witness a considerable growth during forecast period due to improving economy from economic downswing, reimbursement policy, and healthcare spending.A combination of factors such as technology innovations, aging population, and government regulations are seen to impact the global industry dynamics significantly.
Lucintel’s research indicates that in 2011, the industry witnessed good growth over 2010 due to introduction of low cost equipment,which generated demand among middle class people for treatment. Strong economic growth and increased healthcare spending are expected to fuel demand for medical equipment and equipment orders intake in the Asia and Australia.Multi modality in diagnostic imaging and increasing use of laser technology are the emerging trend in this industry.
As per the study, new technological innovations are driving the demand of medical equipment industry such as introduction of new laser therapy to treat diseases with accuracy and portable equipment.Economic slowdown and huge R&D expenses are expected to pose growth challenges for the industry.
This study provides an overview of the global medical equipment industry.The market report tracks four industry segments for four regions, thus it tracks sixteen segments of the global medical equipment industry.
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