Europe Medical Devices Q4 2020
The European medical devices market will show mixed signs of growth over the 2019-2024 period. The Covid-19outbreak has had a profound effect on all market in the region, interrupting both internal and international trade markets. This willlead to a substantial contraction in medical device markets through 2021. Though a number of key markets for Europe are currentlyexpected to benefit from pent-up demand in 2022, there remain downside risks to these markets should the economy continue tosuffer in the short term. Market growth will be supported by the ageing population, private healthcare expansion, healthcareinfrastructure developments, heavy import reliance and increasing multinational presence in certain markets. The six main productareas will record low single-digit CAGRs in weighted local currency terms, making Europe the slowest growing region in the globalmedical device market.
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