News | March 26, 2008

New Report Says Consumer Demand is Prompting Increase in Medical Device Sales

March 26, 2008 - A new Frost and Sullivan analysis shows greater awareness of the availability of improved therapies is prompting patients to demand treatments that enable them to lead productive lives post surgery, coupled with surgeons’ willingness to adopt innovative technologies, has considerably benefited the U.S. medical devices market.

The recently-released report “U.S. Medical Devices Market Outlook” finds the market earned revenues of $75.6 billion in 2006 and estimates it will reach $139 billion in 2013.

“The medical device industry has witnessed dramatic shifts from highly invasive surgical procedures to minimally invasive surgical techniques,” said Frost and Sullivan research analyst Archana Swathy. “These methods offer patients reduced pain and discomfort, easing the burden on the healthcare setting.”

To gain customer’s and patient’s trust, the study suggests decreasing the number of incidents involving product recalls and device related deaths is the first step. In order for this to happen, manufacturers must establish positive results during clinical trials. Manufacturers’ product launches largely hinge on clinical evidence about the long- and short-term efficacy of the product involved. These trials will eliminate the apprehensions of late adopters.

The report also found the market will gain a substantial boost through stronger sales and marketing efforts targeting primary care providers or their referred specialists.

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