The global medical equipment industry, which has been growing at a good pace in recent years, is expected to have a value of more than $500 billion by the end of 2020. Not surprisingly, the United States is the dominant region of the industry, followed by Europe and the Asia-Pacific. In the Asia-Pacific, China leads the industry, along with Japan and South Korea. India also accounts for a small portion of the market.
Aruvian Research—which analyzed the global medical equipment industry in its Global Market for Medical Equipment-Analysis and Forecast 2010-2020 report—said large, international players dominate the global medical equipment industry while there are limited buyers; this, then, leads to an increased negotiating power of the industry buyers.
Since the supplier companies are large-scale, they generally have 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 Medical Systems Corp., and Zimmer Biomet.
Furthermore, the medical equipment industry is dominated by the disposable equipment sector, which accounted for nearly 40% of the market in 2015.
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