With steady growth in the last couple of years, the global medical equipment industry is dominated by the disposable equipment sector, accounting for nearly 40% of the market in 2015, according to a recent report. The United States is the dominant region of the industry, followed by Europe and Asia Pacific, it continues.
According to the report, large, international players dominate the global medical equipment industry while there are limited buyers, leading to an increased negotiating power of the industry buyers. Since the supplier companies are large scale, they generally have a control over the price and quality of raw materials. High entry barriers to the industry also make it difficult for new players enter the market.
Major multinational players in the global medical equipment industry include Abbott Laboratories, Boston Scientific Corp., Danaher Corp., Fresenius Medical Care, GE Healthcare, Hill-Rom Holdings, Johnson & Johnson, Siemens Healthineers,Toshiba America Medical Systems, Zimmer Biomet, and more.
By the end of the forecast period, 2020, the global medical equipment industry is expected to have a value of more than $500 billion.
The report’s analysis explores the bargaining power of buyers and suppliers, competitive rivalry in the industry, threat of new entrants to the industry, and the threat of substitutes to the industry.