IIF Insights: Medical Devices in the Developing World

A medical device is defined as an instrument or object used to prevent, diagnose or treat a medical condition. The World Health Organization (WHO) has identified approximately 10,500 different types of devices across the globe. The medical devices industry is a multi- billion dollar business; the global market reached $411.8 billion in 2013 and is expected to reach $538.7 billion by 2018.2 This paper explores the traditional international market for medical devices as well as the development of low-cost innovative solutions to global health issues, and highlights the state of the medical sector in several low to medium income countries.

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