Counterfeit Medical Devices Market Value: $7 Billion

in Counterfeit Goods

Based on the following sources, Havocscope has calculated the estimated losses to counterfeit medical devices to be $7 Billion.

Calculation:

Counterfeit medical devices represents between 6 to 8 percent of the medical devices market.

Source:  Elizabeth Engler Modic, “Medical Device Counterfeiting Harms Many,” Today’s Medical Development, June 2009, and Jayant Singh, “Phase out the Fakes, Medicaldevice-network.com, April 4, 2008.

Size of medical devices market in the United States: $100 Billion.

Source:  Jim Austin, Terry Fadem and Paul J.H. Shoemaker, “A Look into the Future of the U.S. Medical Device Markets,” Medical Device & Diagnostic Industry, January 2009.

Taking the median of 7 percent, 7 percent of $100 billion is $7 Billion.

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