Medical Device Industry Primed for Expansion in 2013, Survey Shows
Austin, Texas (PRWEB) February 21, 2013
A new industry survey conducted by medical device regulatory consulting firm Emergo Group finds that medical device companies expect moderate to strong sales rates in 2013, as well as expansion opportunities in developing markets such as Brazil and China.
The Emergo Group annual survey queried more than 3,500 medical device industry executives and QA/RA professionals on issues such as business development prospects, regulatory environments and expected challenges over the next year. Full results and analysis can be found at: http://www.emergogroup.com/research/annual-medical-device-industry-survey
More than 70% of survey respondents reported somewhat or very positive outlooks for the medical device industry as a whole in 2013, and an even higher percentage of respondents (80%) expressed optimism for their own firms 2013 prospects.
Other key findings in the survey include:
Changing regulatory environments and new product development were the biggest business challenges survey participants cited for 2013.
More than 65% of survey participants rated Asia-Pacific markets as having the most growth potential this year.
The top five markets in which survey participants plan to commercialize devices in 2013 are Brazil, China, Mexico, India and Russia.
In response to the US Medical Device excise tax, most respondents plan to pass on increased costs to customers and will work to lower production costs rather than reduce employee headcount. Only 11% of participants reported plans to lay off staff in response to the new tax.
Overall, these survey results suggest medical device manufacturers anticipate solid growth this year, and that emerging markets like Brazil and China will play a larger role in expansion plans, says Chris Schorre, Vice President of Global Marketing at Emergo Group. International commercialization strategies appear to be more and more important for an increasing number of firms for 2013.
About Emergo Group
Emergo Group is an ISO registered medical device regulatory consulting firm with offices throughout North and South America, Europe, the Middle East and Asia. The firm has specific expertise in regulatory affairs, quality system compliance, clinical trial consulting, in-country representation and medical device distributor search consulting.
Senior Regulatory Analyst
Phone: +1 512 600 7627
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