Medical Enclosures Markets Expanding Across the Globe

WELLESLEY, MA --- The increasing incidence of lifestyle-based diseases, rising elderly populations and growing concern over hygiene in hospitals should increase the global demand for medical enclosures. BCC Research reveals in its new report that North America, Europe and the Asia-Pacific region are primarily driving growth in the worldwide market.

A medical enclosure is a closed chamber or cabinet used to mount a medical device within it or one that is used to make a disposable medical device. It is used to enclose medical devices for applications such as implants, diagnostics and monitoring devices, medical disposables and supplies, and therapeutic devices. They increase durability, prevent bio-contamination, infection and microbial infection; protect medical devices from dust, fire and water.

The global medical device enclosure market, which totaled $2.1 billion in 2015, should reach nearly $2.3 billion and $3.3 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 7.8%. As an enclosure type, the polymers segment is expected to total $880.1 million and $1.3 billion in 2016 and 2021, respectively, on a five-year CAGR of 8.6%. It is the largest and fastest-growing segment. The second-largest enclosure type, the steel market, should grow from $642.2 million in 2016 to $907.1 million by 2021 on a five-year CAGR of 7.2%. Other non-metals, the smallest but second-fastest growing market, should demonstrate a five-year CAGR of 8.1%, reaching $82.8 million by the end year.

The diagnostic and monitoring devices market is expected to hold 55.9% of the global market share, by use. This market, which should increase from $1.2 billion in 2015 to $1.3 billion in 2016 at a year-on-year (YOY) growth rate of 6.6%, is expected to grow at a five-year CAGR of 6.8% to reach $1.8 billion in 2021, the largest of all segments. The second-largest segment in terms of market share, therapeutic devices, is expected to increase from $433.2 million in 2015 to $474.5 million in 2016 at a YOY growth rate of 9.5%. This market, which held 20.8% of the global market share in 2015, is expected to grow its percentage to 22.7% by 2021 on a five-year CAGR of 9.7%.

In 2016, North America accounted for 41.7% of the global medical device market, followed by Europe and the Asia-Pacific region with 30.5% and 22.2% market shares, respectively.

"The medical enclosure market for North America is expected to increase from $884.4 million in 2015 to $949.6 million in 2016 at a YOY growth rate of 7.4%. This market is expected to grow at a five-year CAGR of 7.6% to reach $1.4 billion in 2021," says BCC Research analyst Aneesh Kumar. "Key growth factors are a growing elderly population, expected growth in prevalence of chronic diseases, rising healthcare expenditure and medical reimbursements in the U.S. region. Growth also is expected in wearable, portable and wireless diagnostic and monitoring device enclosures."

Global Markets for Medical Enclosures (IAS107A) analyzes the market by materials used (metallic and non-metallic), by applications in medical devices, and by regional markets. Analyses of growth drivers, trends, restraints, opportunities, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.

http://www.bccresearch.com

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