Industry Primed for Expansion in 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.
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.
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
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
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.
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