The U.S. medical device market has to withstand many headwinds, including reimbursement challenges, yet the industry still is the largest market globally.
This one chart demonstrates how the domestic medical device market is growing and will continue to through 2018, albeit at a slower rate than in the past. In 2013 the U.S. medical device market was worth $158 billion and is projected to grow to $185 billion in 2018, according to Kalorama, a medical market research firm.
Here's how other countries stacked up in terms of revenue in 2013 according to Kalorama:
Japan - $36 billion
Germany - $23 billion
China - $17 billion
France - $16 billion
Italy - $14 billion
United Kingdom - $13 billion
Brazil - $8 billion
Australia - $7 billion
[Image Credit: iStockphoto.com user abluecup]