Global market
$21.2 BILLION in 2012
$26.26 BILLION in 2014
$40.8 BILLION by 2018
$50.37 BILLION by 2020
$62.6 BILLION by 2022
Spurring growth
Demand for quality healthcare
Rising geriatric population
Advancement inhealthcare technologies
Increasing demand for lower healthcare costs
Entry of new players
Growing product engineering complexity
Increasing number of entrant manufacturers
Reduction in cost & time-to-market
Largest application market
Class II medical devices
Outsourcing benefits
Sources: www.grandviewresearch.com; www.transparencymarketresearch.com
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