Patient aids segment is basically an import driven segment with most products primarily sourced from Ireland, USA, Australia, Singapore, China and South Korea. Key Players include St Jude Medical, Shree Pacetronics, Medisafe International, Medtronics.

The global MedTech market is expected to grow from nearly USD 371 billion in 2015 to almost USD 529.8 billion in 2022, reflecting a seven-year compound annual growth rate (CAGR) of 5.2 percent, noted the joint study.

The growth in the medical devices industry will be driven by the rapid expansion of the emerging markets, allied with steady growth in mature markets as the effects of the economic crisis begin to fade. The expansion of the middle class income group in emerging economies will result in a larger proportion of the population being able to afford procedures and treatments that were previously deemed too expensive.

The United States remains the largest medical device market in the world with a market size of around $140 billion, and the U.S. market represented about 40 percent of the global medical device market in 2015. U.S. exports of medical devices in key product categories identified by the Department of Commerce exceeded $44 billion in 2015.

The European medical technology industry employs more than 650,000 people. Germany had the highest absolute number of people employed in the medical technology sector (195,000), while the number of medtech employees per capita is highest in Switzerland and Ireland. 95% of Europe's 26,000 medical technology companies are small and medium-sized enterprises (SMEs). The European medical technology market in 2015 is estimated at roughly €110 billion.

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