The history of precision medical instruments
can be traced back to the seventeenth century when they were used for the first time. Medical instruments are recognized as objects and tools with many different medical purposes including prevention, monitoring, diagnosis, therapy, treatment or alleviation of diseases.
Some common categories of medical instruments include anesthesia instruments, arthroscopy instruments, cardiovascular instruments, dermal instrument
, dental instruments, surgical instruments, knives, scissors, scalpels, forceps, etc.
Regulatory authorities around the world recognize different classes of instruments based on a number of characteristics such as design complexity, usage, their potential for harm if misused. The global market value for medical devices including medical instruments is forecast to touch $201.6 billion in 2010.The USA Medical Instruments Industry Overview
The USA enjoys leadership position in the world industry for medical devices and instruments. Much of this success is attributed the rapid technological advances in the country during the last century. As a results the surgical devices industry of the US is the most advanced in the world.
By 1990, the medical instrument and apparatus industry was producing goods worth over $10 billion annually. In 1999 the U.S. manufacturers exported 23 percent of their surgical instruments produce. Further, during the close of the last millennium, the medical and surgical equipment sector became one of the major export industries, with more than $4.5 billion in export sales. If sales from ophthalmological devices are added to the figure, it yields a sales volume of about $14.4 billion.The US is also a major player in the closely related minimally invasive medical devices industry. According to forecasts, the industry worldwide is growing at an annual rate of 7.8%, its market value was $14.8 billion in 2008, and is projected to be $15.8 billion in 2009, and further be worth $23.0 billion by 2014. Based on 2007 data, the USA accounted for 60% of the industry's world market at $8.3 billion.
Additionally, with increasing awareness about dental health, the number of dentists have grown in the US. The trend has had a direct impact on dental instruments
' value of shipments, which reached $3.1 billion in 2000 witnessing an increase of 5.1 percent over 1999. Historically, the US has accounted for about 50 percent of the global market for dental supplies.China Medical Instruments Industry Overview
The Chinese medical instruments industry finds itself amongst the top ten emerging markets in the medical instruments industry worldwide. Its market capacity had surpassed $8.7 billion in 2006. Further, this capacity is
expected to touch $22 billion by 2010, amounting to 5% of the world's market. Still ahead in the future China's share will reach 25% by 2050.
China's medical system reform, which began in 2007, involves increased capital expenditure in the infrastructure network of public health. This automatically spells a big opportunity of medical instrument manufacturers and suppliers. Since the turn of the century China's trade volumes for medical apparatus and instruments have been on the rise. The trade volume has risen from about $3 billion in 2000 to about $12.7 billion in 2007.
However, about 70% of China's high-end medical instruments market is led by multinational corporations including GE, Siemens and Philips.Pakistan Medical Instruments Industry Overview
Over a 100 years old, Pakistan's surgical instruments industry, with its hot spot in the city of Sialkot, prides itself in producing one of the world's most economical surgical tools.
The Surgical Instrument Manufacturers Association of Pakistan has over 2300 members engaged in manufacturing a range of surgical instrument supplies. Some popular items of export that find many buyers around the world include surgical instruments, electro medical instruments, cardiovascular instruments, gynecological Instruments, ENT instruments, orthopedic instruments, dental instruments, and more. In 2008, the total value of exports for surgical instruments
was recorded at $255 million, growing at an annual rate of 34% from $191 million in 2007. Of the total number of instruments exported 60 percent are disposable
products, while reusables constitute the remaining 40 percent. The top
3 importers of Pakistan's surgical instruments are USA (23%), Germany
(20%), and the UK (9%).
The total capital investments in Pakistan's surgical instruments Industry are estimated at $223 million. The industry comprising about a 1000 active units manufactures a 100 million instruments each year.
Though wading its way through the 2009 financial crisis
, the growth of health care industry is imminent as the markets ease. Medical instruments being invaluable to the delivery of health care will be an essential component driving this growth.