Global Medical Diagnostic Device Market: Regional Prospects, Investment Analysis, Opportunities, Trends, FDI, Import and Export Analysis, Entry Strategies and Forecast up to 2025
NEW YORK, Jan. 14, 2020 /PRNewswire/ --
The global demand for medical diagnostic devices has drastically changed as the prevalence of chronic diseases has increased significantly in the last decade.
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The market is growing rapidly to meet the global demand and it is expected to register a CAGR of 5.84% in the forecast period. A recent report published by Infinium Global Research has focused on the points that have influenced the medical diagnostic devices market. The report includes a detailed study of diagnostic devices and the top deadliest diseases in the world. The report also covers market dynamics such as drivers, restraint and opportunities, FDI perspective and legal factors affecting the market growth as well as the top key players operating in the market.
The role of medical diagnostic devices is to identify the nature or cause of a certain phenomenon, usually related to a medical condition. Medical diagnosis devices help patients in improving their quality of life by assisting health care professionals to diagnose and treat patients and help them to overcome sickness or disease. The need for medical diagnostic devices has almost doubled in the last few years as the number of cases with chronic diseases increased at an enormous rate. Global factors such as a change in lifestyle, improper food habits and changing environmental conditions contributing to the rise in the cases of heart, respiratory diseases, diabetes mellitus, Stroke, etc. Based on the global stats provided by WHO Ischemic heart disease, coronary artery disease, Stroke, Lower respiratory infections, chronic obstructive pulmonary disease, Trachea, bronchus, and lung cancers and diabetes mellitus among others are the deadliest diseases in the world. Additionally, changing disease prevalence pattern e.g. early onset of diabetes and heart diseases are the additional factors fueling the demand for diagnostic tests that in turn is boosting the demand for medical diagnostic devices.
Diagnostic devices covered in this report include X-ray, Magnetic resonance image (MRI), Ultrasound, CT scan, etc. which accounts for the maximum share of the market. The global stats and the recent development of the diagnostic devices provided in the report give a better picture of the future market. Growing funding for the research activities and involvement of the government and private sectors for the manufacturing of innovative devices have uplifted the market at a global level. With the growing awareness of the early detection of diseases such as cancer with the technologically advanced equipment, the market is expected to grow at a substantial rate in the forecast period.
The global medical diagnostic devices market seems to be highly influenced by the regional structure. The environmental properties, legal and regulatory norms, per capita budget and the healthcare infrastructure of the region is affecting the growth of the market. Developing economies in the Asia Pacific region holds a growing share of global healthcare consumption. The growing prevalence of chronic disease and the rising number of the aged population are some of the reasons highlighting the growth of the market. On the other side, North America holds the largest share (around 40% in 2017) of the global market. The presence of major medical devices producing companies and an increasing number of cases with chronic diseases such as stroke and Ischemic heart disease are some major factors contributing to the market growth in this region.
Read the full report: https://www.reportlinker.com/p05839393/?utm_source=PRN
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