Medical device industry supplier respondents in the North America have the highest average budget of US$2.6 million in 2011, compared to US$0.7 million and US$0.5 million for respondents operating in Europe and the Rest of the World.
London, February 16, 2012 – Across the medical device industry, 61% are more optimistic about revenue growth for their company over the next 12 months in comparison to the previous 12 months (Reference Figure 1 below).
An increased level of consolidation in the industry is expected, with 70% of
respondents predicting there will be an increase in merger and acquisition
activity over the upcoming 12 months. There are many factors which have
contributed to the switches to inorganic growth, including, high operating and
R&D costs, rising competitions, stringent government regulations and
business competence to name a few. Johnson & Johnson lead the global medical
device industry, with the top 10 companies collectively covering 45% of the
market making it highly fragmented. A department head of a medical device
industry supplier company based in Asia-Pacific states:
“The current medical equipment market is highly fragmented and unstructured in this region, and is likely to witness a number of acquisitions to improve growth through collaborative efforts in technology, R&D and innovation.”
Future development expectations for companies include enhancing their operational efficiency through software, technology upgrades, increasing capacity utilization and expanding capacities and production levels. Sikorsky Aerospace Services launched its new LUH Helotrac 2X maintenance management software system in March 2011. The software will support the US Army's UH-72A Lakota light utility helicopter (LUH) program. A manager from an aerospace industry supplier operating in Asia-Pacific states:
“We plan to scale up our operations to enhance capacity and increase operational efficiency.”
China, Brazil and India have been identified by respondents as offering the most growth among the emerging markets. It is expected that there will be an increase in demand for medical equipment and other support services due to the expansion of business activities, stronger economic growth compared to other regions in the world, government funding and reforms and changing consumer lifestyles. Among the developed regions US, Singapore, Taiwan, Hong Kong, South Korea, Germany and Canada have been identified as the most important regions for growth.
On average the marketing budgets of medical device industry suppliers are expected to increase over the next 12 months. It is estimated there will be a minimum 10% rise in marketing budgets, indicating a period of recovery and restoration of confidences following the global economic crisis. In 2011 there has been a rise in the global annual marketing budget for the medical device industry supplier companies since 2010. However, 79% of companies intend to keep budgets low, spending less time and money on marketing strategies.
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Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
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The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
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For more information on the article, please contact:
Press Contact:
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shelly.wills@industryreview.com
“The current medical equipment market is highly fragmented and unstructured in this region, and is likely to witness a number of acquisitions to improve growth through collaborative efforts in technology, R&D and innovation.”
Future development expectations for companies include enhancing their operational efficiency through software, technology upgrades, increasing capacity utilization and expanding capacities and production levels. Sikorsky Aerospace Services launched its new LUH Helotrac 2X maintenance management software system in March 2011. The software will support the US Army's UH-72A Lakota light utility helicopter (LUH) program. A manager from an aerospace industry supplier operating in Asia-Pacific states:
“We plan to scale up our operations to enhance capacity and increase operational efficiency.”
China, Brazil and India have been identified by respondents as offering the most growth among the emerging markets. It is expected that there will be an increase in demand for medical equipment and other support services due to the expansion of business activities, stronger economic growth compared to other regions in the world, government funding and reforms and changing consumer lifestyles. Among the developed regions US, Singapore, Taiwan, Hong Kong, South Korea, Germany and Canada have been identified as the most important regions for growth.
On average the marketing budgets of medical device industry suppliers are expected to increase over the next 12 months. It is estimated there will be a minimum 10% rise in marketing budgets, indicating a period of recovery and restoration of confidences following the global economic crisis. In 2011 there has been a rise in the global annual marketing budget for the medical device industry supplier companies since 2010. However, 79% of companies intend to keep budgets low, spending less time and money on marketing strategies.
To purchase the full version of this report, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
For more information, please visit our website at www.industryreview.com
For more information on the article, please contact:
Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com
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