2014-02-04 04:09:02 - 2013 Global Medical Devices Outlook - a new market research report on companiesandmarkets.com
2012 was a year of transition for the global medical devices market as a number of macroeconomic and regulatory events came to a head. The industry essentially closed the chapter on a market era, starting in the mid 1990s that included an explosion of new technologies, advances in care, and significant market expansion. In that time period, with the majority of growth occurring in established markets of the US, Western Europe, and Japan companies were easily able to focus and funnel resources.For an industry tied to government spending for a significant portion of services that unbridled growth quickly becomes unsustainable. As historic demand for services were compounded with higher costs of care per service, the market quickly hit a saturation
point that led to reimbursement caps in the US, and austerity measures in Europe.Looking forward, 2013 seems to be the beginning of a new era in the marketplace that is more sensitive to the value of care. Historically, the market needle was tied nearly exclusively to the launch of new and groundbreaking products that could advance current treatment paradigms. While the opportunities for those sorts of developments still exist, the threshold has shifted for what constitutes an advancement in the market is willing to justify increased spending for. Due to continued pricing pressure, profitability will depend on more sophisticated market strategy related maneuverings to position product offerings for value-conscious consumers
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