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Medical device market and where is it going
The medical device market in the U.S. is actually a multi-billion dollar industry that truly seems to not stop growing. The main reason for this is actually that the health of our nation is quickly deteriorating due to such ill effects as obesity, cancer, and other health conditions that have affected our population negatively as it relates to their health. As a response to this the healthcare industry particularly the manufacturers of medical devices have constantly strived to create and provide newer and more accurate devices that can help individuals who have these wide ranging kinds of health conditions. As a result of the increasing health concerns and the rising population these device manufacturers are truly in a great situation for enormous growth and opportunity. Within the past decade one of the fastest growing trends in the industry has actually been the manufacturing of pulse oximeter technology. This technology although has been around for many years its actual application to daily use by home use individuals has only come up as of late. The reason for this that the technology had to actually in some way catch up so that the pulse oximeter device could be transformed from what was a large microwave-sized device typically found in hospitals to a very small and portable device that individuals can not only take anywhere they desire to go but also it really decreased the price as well. Based on estimates the market is supposed to hit $325 million by the year 2012 and it really doesn’t seem to be slowing down. Again this is due to the rising issues that relate respiratory and cardiac conditions because the oximeter device is so well suited for these health problems. It is small and accurate and thus is like a true health companion travel mate for these individuals with these health conditions.
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