Frost & Sullivan: Standardized Regulations Crucial for Growth in Global Dimensional Metrology Market for Medical Devices
-- Identifying niche product areas will enable metrology vendors to stay competitive
MOUNTAIN VIEW, California, June 6, 2013 /PRNewswire/ -- Stringent medical device policies established by governing bodies around the world to ensure quality and patient safety will sustain investments in the global dimensional metrology market, particularly in fields such as dentistry and orthopedics. Advances in implant technology will also continue to aid market development.
New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), Analysis of the Global Dimensional Metrology Market in the Medical Device Industry, finds that the market earned revenues of more than $80.7 million in 2012 and estimates this to reach $99.9 million in 2017. The study primarily focuses on dimensional metrology in orthopedic and dental implants, stents and catheters.
If you are interested in more information on this research, please send an e-mail to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Orthopedic and prosthetic devices need to keep pace with the rising complexity of implant shapes and sizes, fueling demand for dimensional metrology.
"Studies indicate that discrepancies in materials and relative implant sizes are the main reasons for unsuccessful implant surgeries," said Frost & Sullivan Measurement and Instrumentation Research Analyst Aravind Govindan. "Therefore, standards are being put in place to enforce the use of dimensional metrology in medical device manufacturing for consistent quality, which will also enable the safe and speedy recovery of patients."
As the target market is relatively small, intense competition likewise compels leading medical device manufacturers to offer high-quality, cost-effective devices catering to a broad patient population. This subsequently adds to global dimensional metrology revenues. Demand for vision measuring machines and white-light scanners, in particular, will go up.
However, the high taxes imposed on the sale of these devices, especially in the United States, have affected medical device manufacturers' profits, and in turn, curbed investments in metrology equipment. The availability of too many products has reduced consumer confidence and further restrained sale volumes.
"Manufacturers must identify and extend their product range to niche areas to be successful in this competitive market," said Govindan. "Metrology equipment suppliers need to correct the drawbacks in existing products to gain consumer trust and speed up market expansion."
Outsourcing manufacturing capabilities to offshore third-party vendors to reduce costs will be a key trend in the dimensional metrology for medical devices industry.
Analysis of the Global Dimensional Metrology Market in the Medical Device Industry is part of the Test & Measurement Growth Partnership Service program. Frost & Sullivan's related research services include: Global Dimensional Metrology Market in Emerging Economies, Global Metrology Services Market, Optical Digitizer and Scanners Market, and Vision Measuring Machines Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Dimensional Metrology Market in the Medical Device Industry
NC17-30
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Jeannette Garcia
Corporate Communications – North America
P: +1-210-477-8427
E: jeannette.garcia@frost.com
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