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Global Medical Devices Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Medical Devices Industry

Global medical devices market: China and India offer strong growth opportunities

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2014-02-12 12:26:03 - Global Medical Devices Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Medical Devices Industry - a new market research report on

A slim majority of respondents to our survey across the global medical devices market have claimed to be ´more optimistic´ about revenue growth for their company during 2013. However, as a result of the currently volatile state of the market, different rates of growth are anticipated between developed markets in the US and Western Europe, and the emerging markets of Asia-Pacific and Latin American countries.Respondents in our extensive survey identified China and India as offering the highest opportunities for growth among emerging markets. This will primarily be driven by the expansion of business activities in these markets, together with stronger economic growth than other regions of the world. Furthermore, changing consumer lifestyles, increased penetration of medical insurance products, and a



rise in disposable income have increased the demand for quality healthcare services, which in turn is expected to increase the demand for medical equipment and other support services.Singapore, Taiwan and Hong Kong, the US, the UK, Germany, and South Korea have been identified as the most important regions for growth amongst developed markets. Although concern over the implementation of healthcare reforms in 2013 has reduced growth optimism in the US, growth prospects are still high amongst developed countries. With an increase in the aging population, high unmet medical needs, and increased incidence of lifestyle diseases (including cardiovascular diseases, diabetes, hypertension, and obesity), the US medical device industry continues to grow at a brisk pace.Further insights include:- The top three key changes expected for 2013 include: the introduction of ´new products and services´, ´expansion in the current market and abroad´, and ´improvement in operational efficiency´. - Overall, medical device industry respondents consider ´focus sales efforts on generating new business´, ´trail of new products in the market´, and ´adapt product portfolio and positioning´ as important strategies for 2013. - In general, executives from the medical devices industry expect to see increased levels of consolidation, whilst 55% of respondents anticipate at least an increase in M&A activity in 2013. - A total of 44% of respondents from global medical devices manufacturer companies, and 49% from supplier companies, anticipate a minimum of a 2% increase of their current workforce.Report ScopeThis report analyzes how medical devices industry companies´ procurement expenditures, business strategies, and practices are set to change in 2013-2014. Additionally, this report presents a comparative analysis between two years of survey results (wherever applicable). This report gives you access to the category-level spending outlooks, budgets, supplier selection criteria, business challenges, and investment opportunities of leading purchase decision makers; it also identifies the future growth of buyers and suppliers, M&A, capital expenditure, staff hiring, and e-procurement. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities, as well as access to information categorized by region, company type, and size.Key Features and BenefitsProject industry trends and revenue growth expectations in 2013, and understand business confidence to make informed business decisions.Drive revenues by understanding future product investment areas and key growth regions.Uncover key challenges and opportunities, and identify the key actions required to maintain and win buyer business.Formulate effective sales and marketing strategies by identifying how buyer budgets are changing and the direction of spending in the future. Better promote your business by aligning your capabilities and business practices with your customer´s changing needs. Secure stronger customer relationships by understanding the behavior and changing strategies of industry buyers.

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