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Medical Devices Market Size Is Expected To Exhibit a CAGR of 9% By 2023 | Future Trends, Share Analysis and Global Medical Devices Industry Insights

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rahul kumar
Medical Devices Market Size Is Expected To Exhibit a CAGR of 9% By 2023 | Future Trends, Share Analysis and Global Medical Devices Industry Insights

Oct 16, 2019 (AB Digital via COMTEX) -- Medical Devices Market Size, Growth, Trends and Share Analysis By Product Type (Diagnostic Molecular Devices, Drug Delivery Devices, Surgical Devices, Monitoring Devices, Diagnostic Devices, Bio Implants and Stimulation Devices, Automation and Robotics), Therapeutic Application (General Surgery, Diagnostic Imaging, Respiratory, Orthopedics, Cardiovascular, Dental, Neurology, Ophthalmology, Ear-Nose-Throat (ENT), Nephrology and Urology), End Users and Key Players Till 2023

The Medical Devices Market in Brazil is expected to exhibit a strong CAGR of 9% over the forecast period from 2018 to 2023, says Market Research Future (MRFR).

However, growing government investment in technological development and product development has been a major driver for the medical devices market over the last few years.

The medical devices market is expected to witness significant growth due to increasing government intervention in the healthcare sector and the rising willingness among Western medical device manufacturers to invest in the burgeoning Brazilian economy.

The increasing development of electronic products, mobile telecom network, and cloud computing in Brazil is likely to be a major driver for the medical devices Industry in the country over the forecast period.

Leading players in the medical devices market include Siemens Ltd., Hitachi Medical Corporation, St. Jude Medical Inc., Boston Scientific Corporation, Cardinal Health, Fresenius Medical Care AG & Co., Baxter International, Koninklijke Philips Electronics NV, Medtronic, General Electric, and Johnson & Johnson.

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