US Medical Devices Market Current Status and Rising Prospects
U.S. medical devices market is a powerful market today. The potential of this regional medical devices market is due to humongous market size and position, huge investments, strong finance markets and good educational institutes.
U.S. market has a prominent headship position in the global medical devices market. U.S. companies account for almost two-thirds of the total revenue for the top 40 medical device companies, followed by Germany with 14% and Japan with 7%. This leadership position of the U.S. in the global medical devices market is due to an increasing number of aging population combined with readily available healthcare services. Affordable Care Act (ACA) along with the above factors should also help keep the United States well positioned in the medical technology sector.
U.S. medical devices market exports grew at a compound annual growth rate of 4.5% from 2008 to 2013 and are expected to increase at similar rates in the future, according to experts. Asian and African economic growth, where gross domestic product is predicted to rise by more than 5.5%, have also helped the U.S medical device companies which have an established reputation and brand recognition in there.
One other major driving factor for the US medical devices market include the well accredited 141 medical schools and approximately 400 major teaching hospitals and health systems existing in the U.S. Many of these academic institutions partner with medical device companies to work in partnership on research and development of new technologies.
Lastly, strong finance numbers of the U.S. have renewed confidence in the medical technology sector as well. This was visible by great improvement in market capitalizations, which rose by 37% in 2013, compared with 4% growth in 2012.
Thus, it is a good time to invest in the U.S medical devices market or tap into other countries markets from the U.S. Well researched market strategies shall help the potential companies grow leaps and bounds starting this year and many years to come. Explore latest research reports on medical devices market and the overall life sciences industry at http://emarketorg.com/cat/life-sciences/