The medical devices industry is a multi-billion dollar industry whose outlook is expected to rise in years ahead. These devices diagnose and treat a multitude of patient illnesses and work much better than drugs. They range in their application but all are very sophisticated and complex. Devices commonly used include pacemakers, tongue depressors, surgery equipment and instruments, electronic medical equipment, invitro diagnostic substances, irradiation apparatus, dental, and ophthalmic goods. The market for medical devices is high in every national population. The costs of in hospital care is rising and the medical device industry is being looked to provide low cost technology for home health care. The health care industry seeks devices that can be used by individuals with unskilled healthcare experience.
In the cardiovascular devices arena, there is a group of large corporate participants (“dominator”) with lines of products for broad cardiovascular applications (including congestive heart failure), and a much smaller number of smaller companies (“upstarts”) with a primary focus on congestive heart failure.
The number of smaller companies has not been growing significantly with the realization that congestive heart failure presents a major economic investment to achieve reasonably-timed technology/product development, clinical trials and market marketing in therapeutic niches for which there is presently no adequate participation. Simply defining the niches is a difficult task. This trend may persist, but failing the addition of unique core technologies, it is not likely to continue too far into the future.
Equipment and supplies is a general term used in corporate and manufacturing settings in a variety of industries, such as the medical field. It is defined as expendable and non-expendable tools, materials, apparatus, and instruments that are used to perform specific functions. For example, in the healthcare field, equipment and supplies are used in diagnostic, surgical, therapeutic, scientific, and experimental procedures.
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