“Lenient regulatory guidelines, low manufacturing costs, skilled labor, and limited market competition are some of the incentives offered by developing countries, which can decrease the overall development cost of the medical device and thereby increase the manufacturer’s profit,”.
“Medical technology vendors are shifting their focus toward developing economies, as these countries offer large population groups as customers and clinical trial subjects.”
Key Market Drivers
- Increase in Aging Population
- Increase in Incidence and Prevalence of Chronic Diseases
- Advances in Technology
Key Market Trends
- Emergence of User-friendly Technologies
- Shifting Focus toward Untapped Markets
Key Market Vendors
- GE Healthcare
- Johnson & Johnson
- Medtronic Inc.
- Roche Diagnostics
- Siemens Healthcare Diagnostics Inc.
To define the market circumstances in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.