WALTHAM, Mass., Jan. 21 Millennium Research Group (MRG), the global authority on medical technology market intelligence has identified the top ten trends and events to impact medtech markets in 2010. According to MRG's recently published Year In Preview 2010 publication, medical device markets will be shaped by comparative effectiveness, health care reform, electronic health records, the economy and more in the coming year.
Although 2009 was a difficult year for the medical device market, 2010's economy will bring new hope, specifically for the less capital-intensive medical device markets. MRG's Medtech Confidence Index (MCI), which surveys thousands of medical professionals every quarter, suggests that medical professionals are continuing to regain confidence in procedure volumes, facility financial strength, and the national economy. Consistently trending upwards since the study was initiated in Q4 2008, the MCI currently stands at its highest point, and is within striking distance of breaking into positive territory.
"Judging from these trends we can assume there is cautious optimism," said Dr. Mary Argent-Katwala, Vice-President of Reports and Consulting at MRG. "Confidence in cardiovascular and orthopedics trended very closely throughout 2009. Both areas are characterized by procedures that are not elective and not readily postponed. However, confidence levels in both areas still do not exceed those seen before the recession. In contrast, facial aesthetics experienced the biggest growth in confidence through 2009. Facial aesthetics was one of the first areas in medtech to feel the impact of the recession and the therapeutic area where confidence was lowest at the end of 2008 so a strong finish to 2009 is a positive indicator of a better 2010."
The 2010 IQ Year in Preview provides timely, accurate, and insightful analysis packed with information on the hottest areas of the medical device and technology industry. The Year in Preview leverages years of accumulated industry knowledge to probe, evaluate, and analyze opportunities and obstacles in medtech's most dynamic sectors. The Year In Preview 2010 publication is available at www.MRG.net.
About Millennium Research Group
Millennium Research Group ( www.MRG.net ), a Decision Resources, Inc. company ( www.DecisionResourcesInc.com ), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group