World Medical Device Market to Grow 6.2% annually from 2014 to 2018 according to Global Research & Data Services

Global demand for medical devices is forecast to expand 6.2% p.a. between 2014 and 2018. China, Germany, Greece, Japan, and the United States are considered the highest potential markets in the coming years. 

According to recently published research conducted by a leading international market research company, Global Research & Data Services, the expansion of the global medical device industry is forecast to reach 6.2% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 7.0%. Currently, electro-diagnostic devices account for 12.7 % of the global demand while the remaining market share is divided between orthopaedic and fracture devices (7.9%), X-ray devices (3.8%), therapeutic respiration devices (3.4%), syringes and needles (3.4%), pacemakers (2.7%), dental devices and instruments (2.4%), medical furniture (2.2%), mechano-therapy and psychological aptitude-test devices (2.2%), ophthalmic devices and instruments (2.2%), computed tomography devices (2.2%), hearing aids (1.8%), dental fittings (1.4%), parts and accessories for medical devices (4.4%), and other medical devices (47.3%).
China, Germany, Italy, Japan, and the United States represent the largest medical device markets while the strongest annual growth is forecast to occur in Greece (14.8%), Macedonia (12.4%), Sri Lanka (12.3%), Kazakhstan (11.7%), and Bolivia (11.1%). 


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Medical device market size compared to market growth in different countries

Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, Global Research and Data Services calculates the Market Potential Rates, the predicted market potential of the country in the coming years. The larger the Market Potential Rate, the more potential the market has in the coming years; and conversely, the smaller the rate, the less potential the market is considered to have in the future. Based on these Market Potential Rates, the top 20 highest potential medical device markets in the coming years are:
Ranking Country Market Potential Rate
1. United States 0.86
2. China 0.24
3. Germany 0.22
4. Greece 0.15
5. Japan 0.13
6. Macedonia 0.12
7. Sri Lanka 0.12
8. India 0.12
9. Kazakhstan 0.12
10. Bolivia 0.11
11. Morocco 0.11
12. Iran 0.11
13. Thailand 0.11
14. Italy 0.10
15. Egypt 0.09
16. Chile 0.09
17. Ecuador 0.09
18. Moldova 0.09
19. Indonesia 0.08
20. Lithuania 0.08
The leading players on the global medical devices market are considered to be companies like 3M Co, Abbott, Alere Inc, Alfresa Holdings Corporation, Allegiance Corporation, Allergan, Inc., AMETEK, Inc., Ansell Limited, B Braun Melsungen Aktiengesellschaft, Bausch & Lomb Incorporated, Baxter International Inc., Becton, Dickinson and Co., Beiersdorf AG, Boston Scientific Corporation, Bsc International, C.R. Bard, Inc., Canon, Cardinal Health Inc, CareFusion Corporation, Carl Zeiss AG, Cook Group Incorporated, Corning Incorporated, Covidien plc, Dada Behring S.A., Danaher Corporation, DENTSPLY International Inc., Dipped Products Ltd., Draegerwerk AG & Co. KGaA, DuPont Electronic Technologies, Essilor International Cmpgn Gnl d'Opq SA, Fielmann AG, Fresenius, FUJIFILM, Gerresheimer Holdings GmbH, Getinge AB, HERAEUS HOLDING GmbH, HI-LEX CORPORATION, Hospira, Inc., HOYA CORPORATION, Johnson & Johnson, Khrunichev State Space Research and Production Centre, Kimberly Clark Corp, Koninklijke Philips NV, L-3 Communications Holdings, Inc., Laboratoires Pierre Fabre Sa, LensCrafters, Inc., Linde Gas Uk Limited, Luxottica Group SpA, Medtronic, Inc., Mettler-Toledo International Inc., Micor, Inc., Mitsui Chemicals, Inc., Moog Inc, Motor Sich PAT, Neoprex Limited, NHK SPRING CO., LTD, NIPRO CORPORATION, NITTO DENKO CORPORATION, Nolato AB, Olympus Corp, OMRON Corporation, Paul Hartmann AG, Philips, Pisa Farmaceutica Mexicana, PPG Industries, Inc., Rexam PLC, Roche Diagnostics Limited, SCHOTT North America, Inc., SEIKO HOLDINGS CORPORATION, Sekisui Chemical Co Ltd, Shanghai Fosun Pharmaceutical, Shenzhen Kaifa Technology Co., Ltd., Shimadzu Corporation, Sichuan Kelun Pharmaceutical Co., Ltd., Siemens, Smith & Nephew plc, Smiths Group plc, Specsavers Optical Group Ltd, St. Jude Medical, Inc., Stryker Corporation, SUZUKEN CO., LTD., Synthes, Teleflex, Terumo Corp, The Marmon Group, Thermo Fisher Scientific Inc., Top Glove Corporation Berhad, Toray Industries Inc, and VCA Antech Inc, Zahran Group.
The market information is based on new industry data reports recently published by Global Research & Data Services. The reports offer the most up-to-date market data on the actual market situation, trends, and future outlook for medical devices in the world and individually for the following countries: 
Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Belgium, Bolivia, Bulgaria, Canada, Chile, China, Colombia, Czech Republic, Denmark, Ecuador, Egypt, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, India, Indonesia, Iran, Ireland, Italy, Japan, Jordan, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Macedonia, Malaysia, Mexico, Moldova, Mongolia, Morocco, Netherlands, Norway, Oman, Pakistan, Panama, Peru, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Thailand, Turkey, Ukraine, United Kingdom, United States, Vietnam
The reports include historic market data from 2007 to 2013 and forecasts until 2018 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, analysts, and other people looking for key industry data in readily accessible and clearly presented tables and graphs.

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The latest market data for this research include:
- Overall medical device market size, 2007-2018
- Medical device market size by product segment, 2007-2018
- Growth rates of the overall medical device market and different product segments, 2007-2018
- Shares of different product segments of the overall medical device market, 2007, 2013 and 2018
- Market Potential Rates of the overall medical device market and different product segments
The product segments analyzed in the data reports include:
Magnetic resonance imaging devices
Scintigraphic devices
Ultrasonic scanning devices
Other electro-diagnostic devices
Medical and surgical sterilizers
Needles for sutures and tubular metal needles
Ultra-violet and infra-red ray devices
Breathing devices and gas masks
Mechano-therapy and psychological aptitude-test devices
Therapeutic respiration devices
Ophthalmic devices and instruments
Dental drill engines
Other dental devices and instruments
Artificial teeth
Other dental fittings
Artificial joints
Other orthopaedic and fracture devices
Computed tomography devices
Hearing aids
Dental X-ray devices
Medical X-ray devices
Dental chairs
Other medical furniture
Alpha, beta and gamma radiation devices
Parts and accessories for medical devices
Other medical devices
The reports answer the following questions:
- What is the current size of the medical device market in the world and in different countries?
- How is the medical device market divided into different product segments? 
- How are the overall market and different product segments growing?
- How is the market predicted to develop in the future?
- What is the market potential compared to other countries?

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