BMI View: The increasing penetration of wearable devices is driven by a global ageing population andassociated increasing prevalence of disease in elderly individuals. Despite the number of challenges facingdevelopment, wearables will continue to be developed for multiple therapy areas. Medical devicetechnology will change the patient monitoring paradigm in multiple healthcare systems, offering diagnosticand treatment advantages to better tailor treatments to individual patients.
Latest Updates And Key Forecasts
We have revised our forecast slightly downwards and now project that the global medical device marketwill grow by a 2016-2021 CAGR of 5.6% in weighted local currency terms, down from a 2011-2016CAGR of 5.9%. Moderate market growth reflects political risks, although now less pronounced inmainland Europe; tempered economic growth in the long-term, although the global economy is now in abetter shape; and healthcare funding challenges. The confluence of persistent lower oil prices, the UK'sdecision to leave the EU and uncertainty under the Trump administration makes a downgrade to ourglobal medical device market forecast a likely scenario.
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