(I) Industry Overview
In recent years, the global economic growth has been weak, but the global medical device market has shown a steady growth trend. In terms of the distribution of the global medical device market, the medical device industry in developed countries and regions such as Europe and the United States started early, the income level and living standards of residents are relatively high, and the quality and service requirements of medical device products are high. The market size is huge and the demand growth is stable.
With the global population growth, the aging of the population, and the economic growth of developing countries, the medical device market will continue to grow worldwide.
The United States is the world’s largest medical device market. Medical device manufacturers invest more R&D resources or expand their product portfolios, and drive more active industry mergers and acquisitions. If the United States decides to abolish the 2.3% medical device consumption tax, it will inject more momentum into the overall medical device market.
The detailed implementation details of the new EU medical device law (MDR and IVDR) are still slow, and the MDR transition period is more than halfway through. From May 2020, certificates will no longer be issued in accordance with the directive MDD. Manufacturers who want to launch products in Europe and the United States should pay attention to and respond to regulatory changes at any time to avoid affecting the time to market.
(II) Key exhibitions
1. Arab International Medical Equipment Exhibition
Location: Dubai, UAE
2. Korea International Hospital Medical Equipment Laboratory Health Exhibition
Location: Seoul, South Korea
3. World Medical Forum International Exhibition
Location: Düsseldorf, Germany