BMI View: The outlook for the medical device market has improved on the back of improved eurozone conditions and a better than expected economic performance, although growth will be constrained by government austerity measures, which will restrict increases in health expenditure. The rising health needs of the expanding elderly population and the drive to improve the care of patients with chronic conditions will be the main growth drivers in the market.
Latest Updates And Key Forecasts
We have revised upwards our forecasts and project that the market will grow at a 2016-2021 CAGR of 5.3% in euro terms and 3.8% in US dollar terms. The lower dollar grow rate reflects further weakening of the euro between 2017 and 2020.