closeButton

Medical Devices

The convergence of information technology with medical devices is transforming the landscape of patient care. Integration of medical devices with mobile applications for monitoring and diagnosis of disease conditions can reduce 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 cost and time required for tests. Growth of the medical devices market has been influenced by technological innovations and patient focused care.

Challenges

One of the challenges faced by medical devices companies is integrating rapidly evolving technologies with existing products in order to maintain a competitive advantage in the market. 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 were planning to spend over 6% of their revenue on R&D till 2017. Moreover, new regulatory requirements and fierce competition are posing a challenge for companies operating in this sector. The new Unique Device Identification (UDI) guidelines introduced in 2014 will help stakeholders save costs.

Home Healthcare Devices to Fuel Market Growth

Self-medication practices are also driving demand for home healthcare devices. The launch of glucose monitors, insulin delivery devices, oxygen concentrators, and nebulizers has improved access to healthcare in emerging countries. The increasing awareness about lifestyle disorders among the populace, in addition to advent of new technology has led consumers to adopt more sophisticated devices to self-monitor their health conditions. Furthermore, these devices are convenient to use, and save time and healthcare costs. However, app-based devices are facing challenges with respect to obtaining approvals from regulatory authorities such as the FDA.

Growth in Emerging Economies

North America dominates the global medical devices market, however Asia Pacific and Latin America regions are projected to exhibit significant growth in the forthcoming years. Factors such as rapidly expanding patient pool, rising healthcare spending, and increasing health awareness in these regions are expected to create opportunities for manufacturers of medical devices to expand their operations to these markets. However, market players may need to adopt distribution, manufacturing and business strategies tailored to these regions to ensure a successful foray. Strategic mergers and acquisitions with regional and local players is likely to help companies operating on a global scale to strengthen their product portfolio and market presence.

Conclusion

The way healthcare is delivered, accessed and perceived is changing due to introduction of novel medical devices. As regulatory requirements change and evolve, medical device manufacturers need to understand the implications and be operationally and technologically equipped. Companies also need to ensure that they have the right competencies to keep up with increasing competition and regulations, and assess their impact. Key players operating in this market are 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.

Read More

Medical Devices Published Insights

Coherent Market Insights

Microkeratome Market, by Product (Reusable and Disposable), by End User (Hospitals, Ophthalmic Centers, and Others), by Treatment (Retinal Detachment, Diabetic Retinopathy, Epiretinal membrane, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jul 2020

Key players are engaged in offering new and effective products in the field of refractive surgery, which is creating an opportunity for market expansion. Companies are focusing on targeting untapped markets in emerging economies such as China, Africa, and India, where... Read more

Coherent Market Insights

Intravenous Stopcock Market, by Type (Four-way Stopcock and Three-way Stopcock), by Application (Pressure Monitoring and Infusion Therapy), by End User (Hospitals, Specialty 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, 2020 - 2027 ...

Published Date :Jul 2020

Intravenous stopcocks are being used for decades to deliver infusion therapy in patients. This device is used to direct the fluid flow through an infusion system while allowing multiple fluids to be connected. The device is featured with three important components, na... Read more

Coherent Market Insights

Self-care Medical Devices Market, By Product Type (Blood Glucose Monitors, Blood Pressure Monitors, Temperature Monitors, Holter Monitors, Pregnancy/Fertility Test Kits, Sleep Apnea Monitors, Nebulizers, Pedometers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jul 2020

Self-care medical devices are used for measuring and monitoring various vital parameters of a patient. These devices play an important role in monitoring blood sugar level, heart rate, hypertension and other conditions. Blood gluco... Read more

Coherent Market Insights

RFID Enabled Smart Cabinets Market, By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jul 2020

Radio-frequency Identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects. RFID-enabled smart cabinets track drugs and devices and alerts the medical team in case any drug has expired. ... Read more

Coherent Market Insights

Pulmonary Drug Delivery Systems Market, By Product Type (Nebulizers, MDIs, DPIs), By Application (Asthma, COPD, Cystic Fibrosis), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Pulmonary drug delivery route is used to inhale medication through the respiratory tract. The medication reaches the blood stream through the alveolar surface of the lungs. Pulmonary route of drug administration is mainly used in the treatment of asthma, chronic obstr... Read more

Coherent Market Insights

Mercury-Free Dental Implants Materials Market, by Type (Ceramic, Titanium, Zirconia, and Others), by End User (Dental Clinics, Hospitals, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Mercury-free dental implants are made from zirconia, ceramic or titanium which is a bio-compatible, ceramic material.  Zirconia completely assimilates (osseointegrates) into jaw bone without any signs of inflammation or foreign body rejection. Titanium implants a... Read more

Coherent Market Insights

Cardiac Implantable Electronic Device Market, By Type (Implantable Pacemakers and External Pacemakers), By End User (Hospitals, Specialty Clinics, and Ambulatory Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Cardiovascular implantable electronic device (CIED) consists of pacemakers for bradyarrhythmia treatment, implantable cardioverter defibrillators (ICDs) for tachyarrhythmia management, and cardiac resynchronization therapy (CRT) devices for systolic dysfunction with c... Read more

Coherent Market Insights

Medical Device Connectivity Market, By Component (Wired hardware, Wireless hardware (Wi-Fi, WMTS, Bluetooth), Software), By End User (Hospitals, Home healthcare, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Medical device connectivity (MDC) is the establishment and maintenance of a connection through which data is transferred between a medical device, such as a patient monitor, and an information system. It is also termed as biomedical device integration or biomedical de... Read more

Coherent Market Insights

Pain Management Devices Market, By Product Type (Electrical Stimulators (TENS, Others), Radiofrequency Ablation, Analgesic Pumps(Intrathecal, External), Neurostimulation Devices (Spinal Cord Stimulation, Sacral Stimulation, Deep Brain Stimulation)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Pain management devices comprise a variety of instruments used for relieving pain. These devices are advantageous for long-term treatment of pain especially for chronic conditions such as cancer and arthritis. Pain can be controlled with the use of electrical currents... Read more

Coherent Market Insights

Orthopedic Devices Market, By Product Type (Hip Orthopedic Devices, Knee Orthopedic Devices, Spine  Orthopedic Devices, Shoulder  Orthopedic Devices, Elbow  Orthopedic Devices, Foot and Ankle Orthopedic Devices, CMF  Orthopedic Devices Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Orthopedic devices are used to restore skeletal structure and joint movement after fractures, abnormal growth of bones, soft tissue damage or other deformities. These devices can be surgically implanted or externally attached through minimally invasive procedures and ... Read more

Coherent Market Insights

Medical Laser Systems Market, By Product Type (Diode Lasers, Solid State (Crystal), Gas Lasers, Dye Lasers), By Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiovascular, Others (Gastroenterology, Rheumatology, Traumatology)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Medical lasers are medical devices that use precisely focused light sources to treat or remove tissues. Medical laser systems are used in several surgical procedures such as cosmetic surgery, refractive eye surgery, dental procedures, and general surgery such as tumor... Read more

Coherent Market Insights

Human Reproductive Technologies Market, By Technology (Infertility Drugs, Contraceptive Drugs and Devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Human reproductive technologies include, Assisted Reproductive Technology (ART), prognostics, contraception, and same-sex procreation. ART aids in the treatment of low fertility or infertility using artificial insemination, artificial reproduction, cloning, cytoplasmi... Read more

Coherent Market Insights

Cell Surface Markers Market, By Product Type (Flow Cytometers, Hematology Analyzers, Reagents and Kits), By Application (Disease Diagnosis and identification, Research/Drug Discovery), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 ...

Published Date :Jun 2020

Cell surface markers are used to identify and classify different cells. These markers play a vital role in immunology. The analysis of cell surface markers through immunophenotyping allows efficient disease identification, sample preparation, drug discovery, disease d... Read more