The Global Medical Device Industry
The global medical market is predicted to grow up to USD 615 billion by 2025 and to approximately USD 800 billion by 2030. The annual growth rate (CAGR) is projected to grow by about 5.2%. The Asia-Pacific, Latin America, and African regions are predicted to have the highest growth.
According to ‘Fortune Business Insights’, “The growing prevalence of chronic diseases, and the increasing emphasis of healthcare agencies towards early diagnosis and treatment, is leading to an increasing number of patients undergoing diagnosis and surgical procedures.
According to American Hospital Association (AHA), there is an estimated 36.2 billion inpatient admissions in the US in 2019. The rise in the number of inpatient admissions and the increasing number of surgical and diagnostic procedures is fueling the demand for medical devices, including capital equipment and consumables in developed and emerging countries.
What will you learn in this complete guide?
- Three Biggest Challenges in the Medical Device Industry
- Solutions for the three biggest challenges
- How does Visure Requirements ALM Platform assist you?
