NEW YORK, Sept. 6, 2016 /PRNewswire/ --
Medical equipment devices are designed to aid diagnosis, monitoring or treatment of medical conditions. The medical equipment market comprises surgical and medical instruments, surgical appliances and supplies, ophthalmic goods, dental laboratories, and in vitro reagents.
Surgical instruments are specially designed tools or devices which are used in operations to modify biological tissue or to provide access for viewing it. Surgical instruments are used to provide assistance to a surgeon during an operation or sometimes by a specialized professional such as surgical technologist or a nurse. Graspers, clamps, retractors, distractors, mechanical clutters, injection needles, and suction tips and tubes are the surgical instruments widely used by surgeons and nurses.
The medical equipment market was the third largest of the selected industries in 2015, accounting for $XX billion. It is one of the main providers to other healthcare industries including healthcare services and pharmaceuticals. The healthcare services market was the largest market accounting for $XX billion followed by pharmaceuticals with $XX billion.
The Americas was the largest geographic market in the medical equipment market in 2015, accounting for $XX billion or XX% of the global market. The Americas is the largest market because of a high proportion of elderly population, busy lifestyles, high prevalence of non-communicable disease and high urban population. Europe was the second largest geographic market, accounting for $XX billion or XX% of the global market. Asia was the third largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita average medical equipment expenditure grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita average medical equipment expenditure is increasing because of increase in healthcare spending in emerging markets and higher incidence of non-communicable diseases such as cancer and diabetes.
Self-Diagnosis/Treatment is Increasing – Use of medical devices for the home based diagnosis and treatment of medical conditions is increasing. Technological developments in devices such as glucose monitors, insulin delivery devices, nebulizers and oxygen concentrators have enabled diagnosis and monitoring of many diseases at home. Remote control technology is also allowing healthcare professionals to support home based treatments which is leading to preference for home and self-care treatment.
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