The internet of things and smart electronics will drive the next phase of growth in the medical devices industry globally. Rising geriatric population and Home-based care are proving conducive to the growth of the medical device industry. While large companies continue to report new progress, regulatory approvals continue to remain a long-winded process. Small scale companies in the medical devices industry have their exclusive set of challenges, with difficulty in obtaining funding being the key impediment to growth. On the other hand, large-scale companies will have to brave headwinds in the form of pricing pressures and acute monitoring by regulatory agencies.
Companies in the Asia Pacific and North America medical devices industry are more assured about their growth prospects than their counterparts in Europe. This is chiefly because of the dull economic growth exhibited by European countries in the recent past. Sales gains are expected to remain modest in medical device markets that hold a positive outlook.
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