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North America maintains competitive advantage

The United States has always occupied the largest share of the global medical device market, is the world's largest producer and consumer of medical equipment, the annual output value of 5%-8% growth, the world market 40% of medical equipment are supplied by the United States, while the world market 37% of medical equipment is also consumed by the United States. By 2026, the United States is expected to spend $5.7 trillion on health care. Investment in health care companies in the United States has reached $5.4 billion.

Under the continuous promotion of innovation, the continuous exploration of medical diagnosis problems and the improvement of existing treatment options, the US market share will continue to grow.

 

Growth in demand for medical devices in Latin America

 

Meanwhile, in Latin America, the medical device market is expected to return to growth in the coming years. The market was worth about $13.3 billion in 2016 and is expected to reach $18.4 billion in 2020.

 

In the coming years, Latin American countries aim to achieve sustainable health care and make progress towards this goal. In addition, the testing equipment market is expected to grow by 15% by 2021, with countries such as Brazil, Mexico, Colombia and Argentina leading the way.

The United States is the world's largest producer and consumer of medical devices, supplying 40% of the world's medical devices and consuming 37% of the world's medical devices. The value of medical equipment production in the United States is growing at a rate of 5-8% per year, and the trade surplus is about $5 billion. American medical equipment manufacturers are characterized by the use of advanced technology, the production of high-performance equipment, and the high investment in research and development of new products. Surgery and medical equipment is the largest category of medical equipment industry in the United States, accounting for 36% of its output value. The products mainly include anesthesia equipment, sectioning equipment, blood pressure monitor, blood transfusion equipment, endotracheal endoscope (non-electronic), catheter, surgical fixture, diagnosis and treatment equipment, hemodialysis equipment, hypodermic injection syringe, respiratory therapy equipment, operating table, oxygen cylinder, suction equipment, bone plate, screws, etc.