Medical Device Industry Overview

07/08/2018
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         The global medical device industry has underwent continuous growth, particularly in major markets such as the Americas, Europe and Asia Pacific. Policies supporting research & development and the relaxation of regulations in order to stimulate export were the driving forces that supported this growing trend. Although entrepreneurs were often challenged by economic fluctuations and changes in trade regulations, an optimistic approach and the constant quest for trade opportunities may lead them to further growth in the future.

          Apart from being a leader in the production of medical devices, the United States also has the largest consumer market for the industry. In an attempt to promote more research and development into innovative medical devices in the country, the United States government has increased its research budget nearly threefold from USD 2.9 billion in 2010 to USD 7.3 billion in 2011.
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