According to recent research, the demand for medical laboratory equipment is expected to rise in the next three to five years. The main factors cited as responsible for this trend include:
- The continuously aging population, especially in the developed economies, is fuelling the demand for healthcare services and medical equipment. The older generation requires more medical attention. There is also a drive towards “personalized” medicine, with solutions being tailored to meet individual needs.
- Another factor that will contribute to the increase in demand for medical equipment and supplies is the increasing awareness about healthcare.
- The demand for healthcare services is not like the demand for other consumer services and can increase even in a recession.
At the same time the medical equipment industry also faces many challenges: stringent clinical and regulatory standards, rising R&D expenditure, cost and productivity issues, pricing factors, reimbursement pressures and increasing competition. Reforms in the healthcare industry are focused on bringing down costs and manufacturers will have to balance the tendency for prices to fall with the need to consolidate their cash position.
In view of these factors, the best option for clinical labs is to source their equipment from an established supplier offering quality products at affordable cost.