Medical Device Market Drivers For Emerging Markets

Medical technology plays a vital role in the delivery of healthcare services in a country. With the convergence of breakthroughs in science and technology, the pace of medical invention is accelerating, inspiring better clinical outcomes with less invasive procedures and shorter recovery times. All of this helps lower cost and thereby create tremendous value. These changes drive demand for new lower cost diagnosis, monitoring and treatment procedures. According to WHO, India is expected to lose a whopping US$ 225 billion, over a fifth of the country's current GDP, in 10 years up to 2016 by way of the national income foregone due to productivity loss from the increase of heart diseases and diabetes. India will be the diabetes capital of the world. The emergence of BRICS (Brazil, Russia, India, China, and South Africa) nations have resulted in plethora of opportunities for the MDMs (Medical Device Manufacturers). Considering all these facts the research "Identifying medical device market drivers for emerging markets-A Study in context to Indian Market" will definitely add value as a pointer towards developing medical devices for a specific geography.