A new report predicts a 7.5 percent annual increase in medical device and diagnostics MD &D sales to $312 billion in 2010. The technologies that will lead this growth include spinal products, neuromodulation devices, sleep apnea products, advanced molecular diagnostics, cardiac rhythm management products, orthopedic implants, endoscopy devices and energy-based technologies, according to the report published by Health Research International entitled Opportunities in Global Medical Devices and Diagnostics.
In looking at 2005, the MD &D industry generated close to $220 billion in revenues in 2005. Close to 50 percent of these expenditures were on in vitro diagnostics (IVD), cardiovascular disease therapies, diagnostic imaging equipment, services and contrast, and orthopedic and spinal products, according to the report.
The expected growth will be largely caused by the overall aging populations, and along with that comes more cardiovascular disease, musculoskeletal conditions, cancer and other degenerative conditions. To meet this need, the report says, new technologies will have to be developed designed to diagnose and treat conditions less invasively at an earlier stage.
More details regarding this report can be found here: http://www.medtechinsight.com/ReportHRI251.html