We all are constantly inundated with negative news and the MedTech industry is no different. Thus, I was pleasantly surprised to run across this article in MedCity News. With all the negativity around us, it’s refreshing to read some positive, encouraging news.
A new survey of 125 MedTech executives found that 91 percent of them expected an increase in the compound annual growth rate in the next three years. The survey responses represented 89 companies in 16 countries.
The survey indicates that 69 percent of respondents are confident that product sales in developed countries will increase, while 88 percent say they have the same positive feelings about emerging economies. Only 3 percent expect sales to decrease in developed countries. Another encouraging sign is that executives expect research and development to increase.
One of the main challenges cited in the article is the challenge of globalization. Even as countries attempt to harmonize regulations, they still have a ways to go. The increasing global regulatory burden is a huge concern to these executives.
Do you share the executive’s optimism? We would welcome your comments on the report and your thoughts on the growth potential of the MedTech industry.
Photo Credit: 1936Matt