Medical Device Market Updates: IVD and Ophthalmic Devices Dominate
China's $30.5 bn Medical Device Market; Invisible Hearing Aids Set
to Make Big Noise
FARMINGTON, Conn., Nov. 20, 2012 /PRNewswire-iReach/ -- Big
innovations are emerging in the global market for medical devices.
New market research forecasts medical devices in China to reach $30.4
billion by 2018, while the global market for hearing aid
devices is expected to hit $11.3
billion in that same time, and surgical equipment is
currently on pace to reach $7
billion.
(Photo: http://photos.prnewswire.com/prnh/20121120/CG17044)
Against this backdrop, Global Information Inc (GII) is pleased
to present three strategic market research reports from our premium
market research partner GBI Research for executives operating in
the global markets for medical devices, surgical equipment and
hearing aids.
Medical Devices Market in China to 2018
The medical devices market in China is forecast to grow at a
Compound Annual Growth Rate (CAGR) of 11%, from $14.3 billion in 2011 to reach $30.4 billion in 2018. China's medical devices market is dominated by
the ophthalmic devices and In Vitro Diagnostics (IVD) sectors. The
IVD market in China is driven by a
large patient pool that requires large volumes of tests. With the
implementation of the government-backed insurance schemes, and a
subsequent increase in the reimbursement ratio (the ratio of the
total amount reimbursed) there is expected to be a significant
demand for the adoption of ophthalmic surgery devices.
The establishment of healthcare reforms through an initiative
called Opinions on Deepening the Health Care System Reform, also
known as the New Health Care Reform Plan, by the Chinese State
Council and the Communist Party of China (CPC) Central Committee, is the major
driving factor for the healthcare sector in China. The series of initiatives planned by
the government were aimed towards providing a health service system
for both the urban and rural population. These initiatives work
towards addressing the limitations of the market-oriented Chinese
economy and strengthening the country's healthcare system.
An Executive Summary for this report and free sample pages from
the full document are available at
http://www.giiresearch.com/report/gbi254538-medical-devices-market-china-government-reforms.html
Hearing Aid Devices Market to 2018
The global market for hearing aid devices was valued at
$7.2 billion in 2011 and is forecast
to grow to $11.3 billion by 2018 at a
Compound Annual Growth Rate (CAGR) of 7%.
Hearing aids are set to make big noise in the medical devices
market, as innovative new technologies shrink hearing aids to turn
up their cosmetic appeal. Miniature behind-the-ear (BTE) devices,
and other miniature hearing aid devices such as in-the-canal (ITC)
and completely-in-the-canal (CIC) are nearly invisible, and are
witnessing growing global demand. Companies are investing in
R&D for these hearing aids, which are attracting customer
attention as they meet the need for better speech intelligibility,
improved sound quality and enhanced aesthetics, while also being
robust and comfortable. A wide range of deep-fitting, invisible
hearing aids offering aesthetic benefits are currently available in
the market, including the iMini by Siemens, the Lyric and Phonak
nano by Phonak, and the Oticon Intiga by Oticon.
An Executive Summary for this report and free sample pages from
the full document are available at
http://www.giiresearch.com/report/gbi250351-hearing-aid-devices-market-cosmetic-audiological.html
Surgical Equipment Market to 2018
The increasing volume of surgical procedures being carried out
is creating higher demand for surgical equipment such as surgical
sutures, electrosurgical devices and hand instruments. The global
market for surgical equipment is therefore forecast to exceed
$7 billion by 2018, following growth
at a Compound Annual Growth Rate (CAGR) of 4.2% during
2011-2018.
This report provides market landscape, competitive landscape and
market trends information on the three surgical equipment market
categories: surgical sutures, hand instruments and electrosurgical
devices. It gives comprehensive information on the key trends
affecting these categories, and key analytical content on the
market dynamics. The report also reviews the competitive landscape,
giving a detailed analysis of the pipeline products in each
category, and also reviews details regarding important merger and
acquisition deals that have taken place in the global surgical
equipment market.
An Executive Summary for this report and free sample pages from
the full document are available at
http://www.giiresearch.com/report/gbi124640-surgical-equipment.html
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