Medical device companies immune to economic ills

Medical device companies are reporting positive domestic and international sales growth this year despite the sharp economic downturn, according to research group Frost & Sullivan.

It said it has found continued optimism about prospects for the industry in 2009 in the analysis it has carried out, called European Medical Device Company Profiles.

“Manufacturers were capable of quickly adapting to market trends and were able to achieve greater profit margins,” said Frost & Sullivan. “Emerging markets in Asia, Eastern Europe and Latin America constituted areas of potential growth for these European producers.”

The global market is divided between the US (a 40% share), the European Union (30%) and the rest of the world (30%).

Frost & Sullivan said European manufacturers have a strong position in Europe, where approximately 78% of the products sold are manufactured within the EU.

In a separate report, Frost & Sullivan is predicting the healthcare industry will start to exploit the digital technology that is fast being adopted in other sectors.

The total mobile/wireless healthcare technologies market in Europe during 2008 was $1.48bn. But the report suggests this figure will reach $6.79bn in 2015.

“Owing to the financial crunch, the healthcare industry in Europe is finding ways to curtail costs and increase the efficiency of healthcare delivery through wireless technology,” according to the group.

In the report, titled Mobile/Wireless Healthcare Technologies in Europe, Frost & Sullivan points out the need for a comprehensive wireless business and technology strategy by healthcare providers.

But it recognizes the challenges involved with integration of central stations and electronic medical records, and the expansion of wireless patient monitoring in sync with biomedical, administrative and laboratory functions.

Original Article at PRW.Com

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