According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, both India and China are showing extremely high growth rates in a variety of surgical procedures, due to aging populations and economic growth. Growth rates are from two to five times those seen in the U.S. and Europe:
– Trauma device procedures are growing at a rate of nearly 25 percent annually in China, and over 23 percent in India, as compared to a U.S. growth rate of under five percent.
– Reconstructive knee implant procedures are growing at a rate of over 25 percent annually in China and nearly 23 percent in India, as compared to under six percent in the U.S.
– Bone graft procedures are growing at a rate of over 21 percent in China and over 20 percent in India, as compared to under four percent in the U.S. and under six percent in Europe.
– Peripheral vascular procedures and dental implant placements also show significantly higher growth rates in China and India.
“These are significant increases in procedure volumes,” says April Chan, publications manager at MRG. “For example, the annual growth rates in trauma device procedures means that we will see those numbers nearly triple by 2015.”
Economic improvements in both India and China have allowed more people to afford health care, and access to services is increasing as more hospitals are built and physicians acquire the equipment and skill necessary to perform these procedures. Combined with aging populations, the result is exploding demand.
Millennium Research Group’s Rest of World Surgical Procedure Volumes 2011 covers cardiovascular, dental implant, facial injectable and orthopedic procedures for Argentina, Australia, Brazil, China, Colombia, India, Japan, Mexico, Puerto Rico, Russia and South Korea.
Source: Millennium Research Group
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