This Lucintel brief presents growth opportunities in medical equipment and devices Market. This briefing covers market insights of medical equipment and devices Market, drivers, challenges, emerging trends in the medical equipment and devices Market. Some highlights of the briefing are as follows:
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Global medical equipment & devices market was estimated at $512 B in 2010.
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Medical devices market holds a major percentage share of ~62%, followed by medical equipment market with 38% share in the year 2010.
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Global medical equipment & devices market is expected to grow at a CAGR of ~7% to reach $764 B in the next six years.
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Global medical equipment & devices market is a consolidated market, where top 10 players accounts for approximately 60% market share.
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Growing & ageing population, increasing life expectancy, Government expenditure on health care sector and increasing awareness on health improvement are the key drivers shaping the Global medical equipment and devices market.
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APAC has emerged as the most promising region with considerable growth in the past and is expected to register similar growth in the next six years.
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Key emerging trends in the Global medical equipment & devices market are:
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Awareness towards self-diagnostic and treatment at home.
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Technological advancements making treatments more affordable.
Technology impacting upcoming medical equipment and devices, such as nanotechnology, telemedicine, tissue engineering.