Global Medical Devices Market
Valued at USD 425.5 billion in 2018, the global medical devices market is huge and continues to grow, expected to reach USD 612.7 billion by 2025. The aim of all medical devices is ultimately to help healthcare providers treat and diagnose patients and to assist patients by improving their quality of life.
Products within the medical devices market range from consumables like bandages and tongue depressors to capital equipment like imaging systems and ventilators. The major product categories include surgical implants and instruments, medical supplies, electro-medical equipment, in-vitro diagnostic equipment and reagents, and irradiation apparatuses.
The market is being boosted by an ageing population, increased number and prevalence of chronic conditions as well as a growth in the number and complexity of surgical procedures. However, this is offset by the demands of healthcare providers for high quality products at reduced prices, increasing emphasis on better patient outcomes and a complex regulatory environment, all of which are eroding the margins of manufacturers and forcing some to restrict either their product or market offering. Taruna offers an alternative solution in the following product categories:
Taruna, which means “being connected” in Maori, provides a solution that brings together manufacturers, independent sales professionals and end customers, offering an alternative or complementary route to market that is scalable without any additional costs being carried, positively impacting the P&L by adding in more variable costs rather than fixed.
Whether as a manufacturer you’re looking for geographic expansion or market penetration, whether your product is a new launch, new to market or a more established cash cow, and whether you’re a new start-up or an established business, the Taruna Model can offer a solution that works for you. So, get connected to the Taruna network and start seeing the benefits to your business today.