Navigation Links
Medical Device Companies Eke Out Growth In Tough Market, Finds Latest Kalorama Report
Date:5/9/2013

New York, New York (PRWEB) May 09, 2013

The global medical device market reached 331 billion dollars in 2012, according to Kalorama Information, just 3% higher than 2011. The healthcare market research firm says reduced growth rate is the result of a challenged healthcare market in Europe and slow funding increases in the United States. The finding was lower than the firm had projected in 2012, and was made in its latest report on the industry, "The Global Market for Medical Devices, 4th Edition".

“Growth in the overall market was challenged as European and US healthcare systems reducing costs,” said Bruce Carlson, Publisher of Kalorama Information. “Those that did launched new products or acquired companies with novel products.”

In the U.S. Medicare, Medicaid, as well as state governments implemented anemic spending increases to hospitals, the key buyer of medical device products. The cuts took the form of non payment for patients for infections acquired at the hospital, or code recovery fees. In Europe, the extreme economic downturn in Spain, Ireland, Greece and Portugal led to layoffs and proposed reforms to the health care systems. Even emerging markets have grown spending less quickly than had been expected. Hospitals continued to purchase through group organizations and insist on transparent prices.

The beginning of 2013 saw the medical device industry make the first payments to the IRS for a new 2.3% excise tax on all classes of medical devices, as part of the 2009 Patient Protection and Affordable Care Act (referred to in this report as US healthcare reform). Many companies attributed layoffs to the tax in widely-publicized announcements, or said that they would not build additional U.S. facilities. Kalorama didn’t think the device tax factored into slow growth in 2012, but the report does predict long-term effects on venture capital investment and research spending in the industry.

In a slower-growing device market, there was little room for new entrants and giants dominated. Johnson & Johnson is the world’s largest medical device company, followed by imaging giants GE Healthcare and Siemens and cardiology and spinal device expert Medtronic. Other leading companies were Stryker, Covidien and Philips.

Emerging markets were a key strategy for leaders and the report notes a new trend last year: the acquisition of Chinese local companies by device giants. Johnson & Johnson acquired local Chinese company Guangzhou Bioseal Biotechnology Co. Ltd, while Medtronic announced it would acquire China Kanghui Holdings, a developer and producer of trauma and spine orthopedic transplants.

The full report, "The Global Market for Medical Devices, 4th Edition" covers these trends, lists company revenues and provides estimates of specific device markets. The report is available from Kalorama Information at http://www.kaloramainformation.com/Global-Medical-Devices-7546398/.

Read the full story at http://www.prweb.com/releases/2013/5/prweb10709233.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Physician Groups Call for Fewer Medical Tests
2. Weill Cornell Medical College establishes Center for Healthcare Informatics and Policy
3. CAM therapy combined with conventional medical care may improve treatment of lower back pain
4. Image share project gives patients and physicians anytime, anywhere access to medical images
5. Researchers determine vitamin D blood level for reducing major medical risks in older adults
6. Biomedical researchers receive Hartwell Foundation awards
7. Columbia University Medical Center and NY-Presbyterian experts at APA meeting
8. Fitness in Middle Age Lowers Medical Costs Later: Study
9. Ben-Gurion U. and Cincinnati Childrens Hospital to develop pediatric-specific medical technologies
10. Gene Tests May Not Drive Patients to More Medical Care
11. University studies and career expectations of medical students
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in ... in honor of the city’s history as home to some of the world’s leading ...
(Date:6/26/2016)... Carolina (PRWEB) , ... June 26, 2016 , ... ... of a new product that was developed to enhance the health of felines. The ... centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/26/2016)... , ... June 26, 2016 , ... ... once they have been diagnosed with endometriosis. These women need a treatment plan ... require a comprehensive approach that can help for preservation of fertility and ultimately ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... Austin ... of the American College of Mohs Surgery and to Dr. Russell Peckham for medical ... and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX ... Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over ... Cut Pro X . Simply select a ProHand generator and drag it above media ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... OTTAWA, Ontario , June 27, 2016  VMS ... the Company,s Board will take whatever measures required to ... the Company,s stock which is currently listed on the ... S Wexler, Company Chairman and CEO, "We are seeing ... be difficult to understand, not only by the Company, ...
(Date:6/24/2016)... June 24, 2016  Collagen Matrix, Inc., ("Collagen ... and manufacturing of collagen and mineral based medical ... that Bill Messer has joined the ... further leverage the growing portfolio of oral surgery, ... Bill joins the Collagen Matrix executive team ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... and Markets has announced the addition of the ... their offering. ... products and provides an updated review, including its applications ... covering the total market, which includes three main industries: ...
Breaking Medicine Technology: