Key players within the European medical device market

The European medical device industry is highly competitive, where new and smaller participants find it extremely challenging to make a significant impact. It is also a dynamic industry with continued scope for expansion, given the ageing population and consequent rise in the number of people suffering from cardiovascular diseases, cancers, musculoskeletal disorders and diabetes.

The global market for medical devices is currently estimated at EUR 184 billion, of which EUR 55.2 billion is attributed to the European market. This is around 30 per cent of the global total making it the second largest market following the United States. Germany, France, Italy and United Kingdom account for over 72 per cent of the European medical device market.

"A key driver of the medical devices market is the rate at which companies introduce new technologies," says Research Analyst Claire Staniforth from Frost & Sullivan. "Companies must invest in research & development (R&D) to develop new technologies to ensure cutting-edge products while maintaining or restraining costs."

However, there are challenges for smaller participants to break into the market where they have to compete with the more established global companies.

This Frost & Sullivan research service profiles 50 key participants that have made an indelible mark in the European medical device market due to their innovative technologies and unique marketing strategies. In addition to offering market segment and revenue analyses, the study highlights the product range, global locations and also, various aspects relating to manufacturing, distribution and original equipment manufacture (OEM) services within each company.

The research service also includes a section that throws light on recent company news regarding plans for product diversification, new product introduction and/or global expansion.

Emerging companies that have new and unique technologies or services but insufficient capital or presence within the market can use this research service to assess potential partnership opportunities with these larger, more established companies. This will provide them with the finances as well as technical and marketing expertise to survive in a competitive medical device market.

"The companies highlighted in this study have proven to be a major influence over the cardiovascular, single-use products and surgical disposables, wound care and orthopaedics sectors," explains Ms. Staniforth. "It is for this reason that they have been chosen as the key players within the European medical device industry."

http://healthcare.frost.com

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
New study reveals gut microbiome's critical role in aging and heart disease