Medical Devices

The convergence of information technology with medical devices is transforming the landscape of patient care. Medical devices integrated with mobile applications for monitoring and diagnosis of disease conditions reduces cost of diagnosis. Also, evaluating health measures is no longer restricted to in-clinic visit. Patients can self-monitor their health at their convenience using portable medical devices. In-vitro medical devices have transformed the diagnostics industry by reducing costs and time for tests. Be it diagnostics, surgery, monitoring or treatment, medical devices provide convenience and help increase access to health services. Growth in this industry is typically derived from innovation and focused patient care.

Challenges

Integrating rapidly evolving technologies inexisting products in order to maintain competitive advantage in the market is a constant challenge faced by medical device companies. Hence, a major share of the spending of these companies is directed towards research and development (R&D). According to a survey conducted by Forbes in 2015, around 47% of the medical device manufacturers are planning to spend over 6% of revenue on R&D till 2017. At the same time, increasing cost pressure is posing a challenge for companies to launch new technologies at low costs. Moreover, new regulatory requirements and fierce competition are creating new complexities and challenges for companies operating in this sector. The new Unique Device Identification (UDI) guidelinesintroduced in 2014will aid the stakeholders in saving costs; however also involves implementation cost for the medical device manufacturers.

Home Healthcare Devices to Fuel Market Growth

Increasing self-medication practices is in turn driving demand for home healthcare devices. The launch of glucose monitors, insulin delivery devices, oxygen concentrators and nebulizers have contributed to increased access to healthcare system in developing countries. Driven by an increasing awareness of lifestyle disorders and increasing awareness about new technologies, consumers are likely to adopt more sophisticated devices to self-monitor their health conditions. For consumers, this could mean convenience in time and travel and reduced healthcare costs.For doctors on the other hand it could mean more efficient and effective healthcare, driven by patients who take greater responsibility for their own health. However, app-based devices are facing challenges with respect to the FDA approval.

Growth in Emerging Economies

Although North America dominates the global medical devices market, significant growth is projected to be observed in the Asia Pacific and Latin America regions. Inadequate access to healthcare system would open up large opportunities for medical devices. Rapidly expanding patient pool, rise in healthcare spending, and increasing health awareness in these markets are expected to be supportive factors for companies to invest in these regions. However, the price points need to be low compared to that in western markets. Also, the distribution, manufacturing and business models need to be changed to make a successful foray in these markets. Mergers and acquisitions are projected to continue in these regions in order to help companies strengthen their product portfolios and increase their market reach.

Conclusion

The way healthcare is delivered, accessed and perceived is changing mainly driving by introduction of novel medical devices. As regulatory requirements change and evolve, medical device manufacturers need to understand the implications and accordingly, need to be operationally and technologically equipped. Companies also need to ensure they have the right competencies to keep up with increasing competition and regulations, and assess their impact. Major global players in this market include Johnson & Johnson, General Electric Co., Medtronic Inc., Siemens AG, Baxter International Inc., Stryker Corp., Fresenius Medical Care AG & Co., St. Jude Medical Inc., and Becton, Dickinson and Co.

Coherent Market Insights
Bone Sonometer market - Design (Portable Bone Sonometer, Stand Alone Bone Sonometer), by End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Nov 2018

Bone Sonometer Market - Supporting Better Health Bone sonometer is also called as bone densitometry equipment in which sound waves on interaction with bone tissue gives information about elastic and structur

Coherent Market Insights
Adaptive Strollers Market, by Product Type (Stroller and Accessories), by Application (Cerebral Palsy, Developmental Delay, Spinal Muscular Atrophy, Spinal Cord Injury, Traumatic Brain Injury, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Nov 2018

Adaptive Strollers Market – Insights Adaptive stroller is a special mobility equipment that is designed to offer smooth mobility and comfortable seating for patients with neurodegenerative disorders. It

Coherent Market Insights
Portering Chair Market, by Chair Type (Folding and Non-folding), by Application (Pediatric, Bariatric, and Others), by End User (Hospitals, Clinics, and Ambulatory Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Nov 2018

Portering Chair Market – Insights Portering chairs are used to transfer patients in the hospital for therapeutic or diagnostic purposes or to specialized units of the hospital such as the Emergency Depa

Coherent Market Insights
Chemotherapy Devices Market, by Product (Catheter, Cannula, Pump, and Others), by End User (Hospitals, Clinics, and Home Care), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Industry Insights, Size, Trends, and Forecast to 2026

Published Date : Oct 2018

Chemotherapy Devices Market – Insights Chemotherapy is administrated intravenously through a Venous Access Device (VAD). Various types of devices are available including cannula, catheters, and implante

Coherent Market Insights
Aneurysm Clips Market, by Aneurysm Type (Abdominal, Cerebral, Thoracic, and Peripheral), by Raw Material (Titanium, Cobalt, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Oct 2018

Aneurysm Clips Market – Insights A brain aneurysm, also referred to as a cerebral aneurysm or Intracranial Aneurysm (IA) is a weak bulging spot on the wall of a brain artery like a thin balloon or weak

Coherent Market Insights
Collagen Meniscus Implant Market, by Age Group (Pediatric and Adult), by End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Industry Insights, Trends, and Forecast to 2026

Published Date : Oct 2018

Collagen Meniscus Implant Market – Insights Collagen meniscus implant is designed to replace the irreparably damaged or missing portion of the meniscus in a meniscal injury. This implant is a biocompati

Coherent Market Insights
Medical carts Market, by Power Source (Powered Carts and Non-powered Carts), by Product Type (Mobile Computing Carts, Emergency Carts, Procedure Carts, Anesthesia Carts,      Medication Carts, and Others), by End User (Hospitals, Clinics, Diagnostic Centers, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Sep 2018

Medical carts offer enhanced pharmaceutical storage and organization solutions for controlled medication safety, and the ability to mobilize patient medical information. Modern medication storage and organization requires an attractive, configurable medication cart de

Coherent Market Insights
Disposable Blood Bags Market, by Blood Bag Type (Collection Bags, Transfer Bags), by End User (Hospitals, Blood Banks, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

Published Date : Sep 2018

Disposable Blood Bags Market – Insights Disposable blood bags are the biomedical devices used for collection, storage, transportation, and transfusion of blood and its components. In recent times, dispo

Coherent Market Insights
Respiratory Air Conditioning Devices Market, By Device Type (Active Respiratory Humidifier, Passive Respiratory Humidifier, and Respiratory Heater), By Application (Asthma, COPD, Bronchitis, and Others), By End User (Hospitals, Clinics, Ambulatory Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

Respiratory air conditioning devices artificially modifies air for its humidity content and temperature before it is inhaled by the patient. Respiratory humidifier serves the essential functions of respiratory gas conditioning required for the sensitive lungs. This de

Coherent Market Insights
Inhalation Anesthesia Market, by Drug Type (Nitrous Oxide and Halogenated Agents [Sevoflurane, Desflurane, Isoflurane, Enflurane, and Halothane]), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

Inhalational anesthetics, also termed as volatile anesthetic agents, are used for induction and maintenance of general anesthesia and sedation. They are delivered through inhalation, especially in patients where administration of anesthetics through intravenous route

Coherent Market Insights
Implantable Bioartificial Kidney Market, by End User (Hospitals, Organ Transplant Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

An implantable bioartificial kidney is similar to existing extracorporeal renal assist device (RAD), which is a bioartificial kidney that combines a membrane hemofilter and a bioreactor to function as a healthy kidney. However, to work as a natural kidney, the bioarti

Coherent Market Insights
Artificial Kidney Market, by Device Type (Wearable Artificial Kidney and Implantable Artificial Kidney), by End User (Hospitals, Speciality Clinics, Ambulatory Surgical Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

Artificial kidney is a state of art technology currently under development, which can replicate the work of real kidney and potentially eliminate the need for dialysis. An artificial kidney would deliver continuous blood filtration to the patients whose kidney is seve

Coherent Market Insights
Interspinous Process Decompression Devices Market by Product Type (X-STOP, DIAM, Coflex, Wallis, and Others) by Flexibility (Compressible and Non-compressible), by End User (Hospital and Ambulatory Surgical Centers) - Size, Share, Outlook and Opportunity Analysis 2018 – 2026

To Be Published : Dec 2018

Interspinous process decompression device also called as interspinous spacer are medical implants used for treatment of spinal stenosis. This devices are intended to reduce the spinal pain via positioning between the vertebrae through minimally invasive surgical proce

Coherent Market Insights
Virtual Rehabilitation and Telerehabilitation Systems Market, by Product Type (Physical Rehabilitation, Neuro Rehabilitation, Cognitive Rehabilitation, and Others), by End User (Residential, Care Home, Hospitals, and Others (Rehabilitation Centers)), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

Virtual rehabilitation and telerehabilitation system is an equipment used for treatment in numerous programs such as mental health, substance abuse, and educational services for patients in mental hospitals, care homes, and rehabilitation centers. Telerehabilitation s

Coherent Market Insights
Test Phantom Market, by Product Type (CT Test Phantom, Mammography Test Phantom, Ultrasound Test Phantom, Radiation Oncology Test Phantom, MRI Test Phantom, and Others), by End User (Research Institutes, Hospitals, Clinics, and Others), and by Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

To Be Published : Dec 2018

Test phantoms or imaging phantoms are specially developed objects used in the field of medical imaging for testing, evaluation, and calibration of various imaging devices. Medical test phantoms are artificial tissue-equivalent materials used as replacement for human t

Coherent Market Insights
Surgery Shadow less Light Market by Product Type (Mobile Shadow less Lamp, Light Emitting Diode (LED) Shadow less lamp, Holes Shadow less Lamp, and Integral Reflex Shadow less Lamp), by Modality (Portable Shadow less Lamps, and Standalone Shadow less Lamps), by End Users (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Geography - Size, Share, Outlook, and Opportunity Analysis 2018 – 2026

To Be Published : Dec 2018

Proper surgical lighting is crucial during surgery for patient safety and comfort. It should be designed so as to enable the medical team to focus exclusively on the surgical operation. Successful surgery requires a special balance of luminance of light, shadow manage

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.