Product Synopsis
“Global Medical Devices Survey
2013–2014: Market Trends, Buyer Spend and Procurement Strategies in the Global
Medical Devices Industry” is a new report by ICD Research that analyzes how
medical devices industry companies’ procurement expenditures, business
strategies, and practices are set to change in 2013–2014. Additionally, this
report presents a comparative analysis between two years of survey results
(wherever applicable). This report gives you access to the category-level
spending outlooks, budgets, supplier selection criteria, business challenges,
and investment opportunities of leading purchase decision makers; it also
identifies the future growth of buyers and suppliers, M&A, capital
expenditure, staff hiring, and e-procurement. This report not only grants
access to the opinions and strategies of business decision makers and
competitors, but also examines their actions surrounding business priorities,
as well as access to information categorized by region, company type, and size.
To
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Introduction and Landscape
Why was the report written?
This report is the result of an
extensive survey drawn from ICD Research’s exclusive panel of leading global
medical devices industry executives; it provides data and analysis on buyer
expenditure, procurement, and developments within the global medical devices
industry. It includes key topics such as global medical devices industry buyer
expenditure and procurement behaviors and strategies, and identifies the
threats and opportunities within the global medical devices industry, economic
outlook trends, and business confidence within global medical devices industry
executives. Most secondary research reports are based on general industry
drivers and do not understand the industry executives’ attitude and changing
behaviors, creating a gap in presenting the business outlook of the industry;
in an effort to bridge this gap, ICD Research created this primary
research-based report by gathering the opinions of multiple stakeholders in the
value-chain of the global medical devices industry.
What is the current market landscape
and what is changing?
Executives from the global medical
device industry anticipate an increase in levels of consolidation, with 55% of
respondents projecting an increase in merger and acquisition (M&A)
activities in 2013.
What are the key drivers behind recent
market changes?
M&A is driven by the need for
favorable product development and commercial product performance, a surge in
demand for more sophisticated medical equipment, high patient expectations,
stringent legislation, and rising living standards.
What makes this report unique and
essential to read?
This report is the result of an
extensive survey drawn from ICD Research’s exclusive panel of leading global
medical devices industry executives; it provides data and analysis on buyer
expenditure, procurement, and developments within the global medical devices
industry. The report includes key topics such as global medical devices
industry buyer expenditure and procurement behaviors and strategies, and identifies
the threats and opportunities within the global medical devices industry,
economic outlook trends, and business confidence within global medical devices
industry executives. Additionally, this report presents comparative analysis
between four years of survey results (wherever applicable).
Key Features and Benefits
- Project industry trends and
revenue growth expectations in 2013, and understand business confidence to
make informed business decisions.
- Drive revenues by understanding
future product investment areas and key growth regions.
- Uncover key challenges and
opportunities, and identify the key actions required to maintain and win
buyer business.
- Formulate effective sales and
marketing strategies by identifying how buyer budgets are changing and the
direction of spending in the future. Better promote your business by
aligning your capabilities and business practices with your customer’s
changing needs.
- Secure stronger customer
relationships by understanding the behavior and changing strategies of
industry buyers.
Key Market Issues
- According to medical device
industry respondents, China, India, Brazil, Russia, and Eastern Europe are
expected to offer the most growth opportunities for industry growth in
2013.
- ‘Market uncertainty’, ‘responding
to pricing pressure’, and ‘regulatory change’ are the leading business
concerns for the global medical devices industry in 2013.
- Overall, for 2013, the average
size of the annual procurement budget for global medical devices industry
buyer respondents is projected at US$137.5 million, against US$55.5
million in 2012.
- ‘Price’, ‘existing relationship
with supplier’, and ‘level of service’ are considered the most important
factors for supplier selection in the global medical devices industry,
while ‘brand reputation’, ‘environmental records and CSR’, and ‘proximity
of supplier operations’ are considered the least important.
- While 12% of buyer respondents
from the global medical devices industry are willing to implement
e-procurement in 2013 or beyond, 29% are already in different stages of
implementation (‘partially implemented’ and ‘evaluation or pilot use’.)
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Key Highlights
- An analysis of revenue growth
expectations by senior level respondents reveals that 48% are ‘more
optimistic’ about their company’s revenue growth in 2013.
- An analysis of responses by
global medical devices manufacturers reveals that ‘new product
development’ and ‘employee training’ will record significant increases in
capital expenditure in 2013.
- The top three key priorities in
2013 for medical device manufacturers include the introduction of ‘new
products and services’, business ‘expansion in current market’, and
‘expand geographical reach’.
- A total of 43% of respondents
from medical device manufacturing companies, 49% of respondents from
medical device supplier companies anticipate an increase of their current
workforce in 2013.
- Survey results indicate that the
top five developed countries expected to generate the most demand for the
medical device industry in 2013 are Singapore, Taiwan and Hong Kong, the
US, the UK, Germany, and South Korea.
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Contact
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90 Sate Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-997-4948
