- Written by Priya Radhakrishnan, GlobalData's Senior Analyst covering Medical Devices.
The healthcare and medical device industry anticipates high growth in the emerging markets, similar to the growth that other industries are experiencing in the markets of Brazil, China, and India, along with Russia. These countries represent the next territories for growth for the industry, while the more developed market regions — the US, EU, and Japan — will experience only moderate growth or will see plateaus, depending on the therapeutic area.
Key drivers of this growth in the emerging markets have been a rising middle class that has access to the rapidly developing private insurance industry, and additional disposable income available for better healthcare. In the last 10 years or so, medical device companies have spent money trying to expand into these areas. The critical issue in achieving success is obtaining better access to prescribing physicians and bringing products into operating rooms and hospitals.