Technology Trends Analysis

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.
There are predictions about the increase in global population. The population is predicted to rise to 7.7 billion by 2020 and may rise further to 9.6 billion by 2050. An increase in global population will affect demand in the pharmaceutical industry. According to the IMS institute’s forecast, the income of the global pharmaceutical industry in 2017 is currently worth 1.2 billion USD, and with accumulative growth rate of 6% per year.
Today we live in the fast lane and our lives are filled with unpredictable events. Consumers have become increasingly health conscious, with intense scrutiny of unethical entrepreneurs who promote products which can cause chemical contamination of the environment. Governments and related organizations have instituted measures to control these pollution aspects, but many modern-day consumers still lack trust in the adverse effects on the ecosystem of cosmetics and supplementary food products, preferring to use merchandise containing natural rather than chemical ingredients.
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