Medical Device Industry To Recover in 2010, Survey Shows

19 November 2009 (Last Updated November 19th, 2009 18:30)

Members of the medical device industry expect the global economy to recover completely between the third quarter of 2009 and the second quarter of 2010, according to an in-house survey. iCD Research, a division of Progressive Digital Media Group, surveyed 196 senior medical devices indus

Members of the medical device industry expect the global economy to recover completely between the third quarter of 2009 and the second quarter of 2010, according to an in-house survey.

iCD Research, a division of Progressive Digital Media Group, surveyed 196 senior medical devices industry professionals during April and May 2009.

The Global Medical Devices Industry Outlook to 2010 Survey found that 57% of medical devices industry players surveyed were optimistic about the global economy recovering before the second quarter of 2010.

More than 70% of medical devices manufacturers, contractors and suppliers surveyed either expect an increase or stability in revenues, the survey said.

It also found that more than 50% of medical device manufacturers and contractors are looking to increase their procurement spend in the next 12 months.

Only 22% of medical devices manufacturers and contractors surveyed are looking to decrease spend, with the rest keeping purchasing levels neutral.