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.