“Armamentarium” in common lingo known as a medical equipment is a tool designed to assist in the process of diagnose, monitor or treat any form of abnormal medical condition. It is absolutely needless to state here that the growing medical and healthcare industries are fueling factors which encourage a growth in the medical equipment sector. Various disorders both related to the physical and the physiology sorts need the interference of different sorts of medical devices for their diagnoses and treating process. These medical tools are believed to be in use since the ancient age, they have enhanced largely with the inclusion of technology and majority of these have turned digitally automatic making their usage quick and extremely simple.
Certain ailments require a much complex process of treatment unlike the ones which can be cured by the traditional pattern of curing. Many diseases today, need surgical treatments which makes the medical equipment segment an inevitable one. The global market for medical equipments was stated worth $307.7 bn (billion) by the end of 2012 and the same is estimated to surpass a figure of $435 bn by the close of 2017. This is figured to be a CAGR growth of above 7% for the stated period of 5 years. Therefore, to make maximum hay of this growth duration, the medical equipment manufacturers are striving hard in the research and developments leading to much advanced and efficient equipments. The up climbing demand for these equipments is a vital boost that encourages the players in the sector to further experiment. There are specific countries which own this demand and the industry is rightly expected to target them for better business. These are nations spread out around the globe, mainly the APAC, EMEA and parts of the LATAM countries. Cardiovascular devices are pegged up to be the most demanded ones around the globe.
Just to have a broader understanding lets glance through some of the essential aspects of the industry that is ought to bring in the sunny days in the quarters to come.
The Da Vinci Systems, a smash hit in Japan:
The Da Vinci systems, a single site robot assisting surgeons perform multiple cancer removals was introduced in the Japanese medical industry in early 2013. This system is quite a success as it enables converting complex opening of deadly cancer kinds in a much simplified manner. The robot is highly efficient as it is specially programmed for the task thus, it gets through the processes as good as an experience medical practitioner. Japan has an alarming count of sufferers who fight the various cancers such as lung, kidney, prostate, throat malignancies. Japan contributes 10% of the total medical technology sales as it houses an average of 6, 00,000 people who undergo treatment per year. This condition has spelled an opportunity growth for the medical equipment industry as there will be about 300 Da Vinci systems installed further by the close of 2014. Experts eye a massive $400 mn (million) market for the system alone in the nation. The equipment is estimated to bring in yearly revenue of $1 bn on a global basis and it is predicted to grow to $1.32 bn by the end of next year.
Renal failure–another ailment creating markets for medical equipment sector:
According to a research, more than 1.2 bn people are suffering from high blood pressure complaints and 75 mn out of these belong to the cases in the United States. A device known as Symplicity which is the newrenal denervation device(RDN) helping in reducing the hormone count is quite a solution for the disorder. This device calms the super active nerve system especially in the kidney area. As per the latest findings, this device has a strong market in the coming years as its worth is expected to gross about $561 mn by the end of 2015 which was valued at a mere $17 mn by the close of 2011.
Acquisitions a positive trend for the global industry:
Recently, neurotechnology and spin segment giant joined hands with its Chinese rival Trauson Holdings in order to establish a presence in the Chinese emerging market. The section is dedicated to the orthopedic implants treatment and this act of acquisition has already had its effect as the industry closed at a whopping value of $1 bn in 2013 from the first quarter result for the same year which was $969 mn. This year the outcome is predicted to be better as the industry is expected to graduate to a value of $8.9 bn and the next year revenue is indicated to touch a range of $9.4 bn.
The worldwide medical equipment industry is witnessing a chunk of profits and this trend is predicted to continue in the immediate future at least.