IRVING, Texas, Nov. 18, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the medical device market looks good with opportunities in the general medical devices, cardiovascular, and surgical & infection control segments. The global medical device market is expected to reach an estimated $343 billion by 2021, and it is forecast to grow a CAGR of 4.6% from 2016 to 2021. The major drivers of growth for this market are the growth in healthcare expenditure, increasing health awareness, and ageing population.
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This report has 79 figures/charts and 30 tables spread through 135 pages. For more detail on this report please click link http://www.lucintel.com/medical_device_market_2016_2021.aspx
In this market, surgical & infection control, general medical devices, cardiovascular, home healthcare are the major applications. Lucintel forecasts that cardiovascular is expected to remain as the largest market supported by growth in multiple chronic cardiovascular diseases and increasing ageing population. On the basis of its comprehensive research, Lucintel predicts that the general medical device segment is likely to experience the highest growth during forecast period due to growth in hospitals and healthcare institutions.
North America is expected to remain the largest region due to the high number of ageing population with multiple chronic diseases and stringent government regulation related to healthcare.
Asia Pacific is expected to witness good growth over the forecast period because of increasing investment in healthcare infrastructures, increasing health insurance facilities, and changing lifestyle.
For business expansion, the report suggests innovation and new product development to enhance medical experience with low cost solution.
The emerging trends, which have a direct impact on the dynamics of the industry, include design and manufacturing of portable and smaller device and increasing usage of software as a differentiator in medical device. Johnson & Johnson, Roche Holding Ltd., 3M, Philips Healthcare, and Medtronic are among the major suppliers of medical device. Some companies are also pursuing mergers and acquisitions as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global medical device market by application and region has come up with a comprehensive research report, “Growth Opportunities in the Global Medical Device Market 2016-2021: Trends, Forecast, and Opportunity Analysis” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
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http://www.lucintel.com/rb/medical_device_market_2016_2021.aspx
The study includes a forecast for the growth opportunities in the global medical device market by application and region as follows:
By Application [$ billion shipment analysis for 2010 – 2021]:
- Surgical & Infection Control
- General Medical Devices
- Cardiovascular
- Home Healthcare
- Other devices
By Region [$ billion shipment analysis for 2010 – 2021]:
- North America
- Europe
- Asia Pacific
- Rest of the World
For detailed table of content click http://www.lucintel.com/toc/medical_device_market_2016_2021.aspx
This 135-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/medical_device_market_2016_2021.aspx or helpdesk@lucintel.com
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