Market Challenges And Opportunities

market is experiencing upward trajectory growth, presenting opportunities for medical device manufacturers worldwide. Despite the ongoing slowdown industry has witnessed owing to Great Recession, market is expected to create good market opportunities to players driven by increased healthcare spending and increasing number of orthopedic cases worldwide. Heavy duty surgical tools are used. Though the market was valued over US$ 14 Bn in 2015 the industry is highly consolidated with presence across developed regions. As such, companies are focused towards inorganic growth to capitalize on the market. With an expected CAGR of 4.6% between 2016 and 2025, the potential for market innovation and development is vast.

Market Dynamics

Despite the slowdown in the industry over the past two years, the industry is expected to grow at a significant rate. The impetus for growth in heavy power surgical tools is driven by product innovation and increasing consumer demand especially in developing regions. Asia Pacific alone accounts for over 65% of overall consumer base. Moreover, there has been a significant increase in healthcare spending along with FDI influx in medical devices in developing regions. This is expected to cut down operating cost and create a favorable market for leading players to capitalize the developing markets. Other factors including geriatrics population and favorable regulatory framework are also expected to drive the market.

Expected increase in number of surgeries along with increased growth of medical tourism in the region is expected to create lucrative market opportunities for the players.