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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.


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.


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.

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Medical Devices Published Insights

Coherent Market Insights

Global Digital Pregnancy Test Kits Market, by Products (With Week Indicator, and Without Week Indicator), by Distribution Channel (Retail Pharmacies, Online Pharmacies, Maternity Clinics, and Hypermarkets and Supermarkets), and by Geography - Trends, and Forecast till 2025

Published Date : Jan 2018

Digital Pregnancy Test Kits Market - Insights Pregnancy test kits quantify hormones such as human chorionic gonadotropin (hCG), present in our blood or urine samples, to determine whether a woman is pregnant ... Read more

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Spinal Fusion Devices Market, by Device Type (Spinal Plating Systems, Interbody Cages, and Pedicle Screw Systems), by Procedure Type (Cervical Spine, Thoracic spine, and Lumbar Spine), by End User (Hospitals, Ambulatory Surgical Center, Orthopedic Center, and Others), and by Region - Global Forecast to 2025

Published Date : Mar 2018

Spinal Fusion Devices Market - Insights Spinal fusion devices are used to provide stability to spinal structure, which has lost stability due to a fracture, degenerative disorders of the spine, trauma, tumors... Read more

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Global Wound Closure Market by Product Type (Wound Dressings and Surgical Wound Closure Products), by Application (Ulcer, Surgical Wounds, Burn Injuries, and Other Applications), by End user (Hospitals, Long-term Care Settings, and Home Care Settings) and by Geography - Trends and Forecast to 2025

Published Date : Jan 2018

Wound Closure Market Driven by Technological advancements and Strategic Collaborations among the Key Players Wound is circumscribed injury caused by an external force, which involves injury to any tissue or ... Read more

Coherent Market Insights

Global Benign Prostatic Hyperplasia Surgical Devices Market by product type (Resectoscopes, Radiofrequency Ablation Devices, Urology Lasers, Prostatic Stents, Implants, and Others), end user (Hospitals and Ambulatory Surgery Centers) and by Geography - Trends and Forecast to 2025

Published Date : Jan 2018

Benign Prostatic Hyperplasia Surgical Devices Market Insights Benign prostate hyperplasia (BPH) refers to the non-cancerous enlargement of prostate. The treatment option depends on various factors such as age... Read more

Coherent Market Insights

Vitreous Tamponades Market, By Product Type (Gases (Silicone Oil, PFCL), Liquid), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Aug 2020

Complex cases of diabetic retinopathy, retinal detachments, proliferative vitreoretinopathy, giant retinal tears and trauma cases usually demand vitreous surgery for repair. In such cases, intraocular tamponades plays a vital role in providing support to the retina an... Read more

Coherent Market Insights

Global Medical Batteries Market by Product Type (Implantable Batteries and Non-Implantable Batteries), by Battery Type (Lithium Batteries, Nickel-Metal Hydride Batteries, Zinc-air batteries), by End User (Hospitals and Nursing Homes, Clinics, Diagnostic Centers, Home Care Settings, Others) and by Geography - Trends and Forecast to 2025

Published Date : Jan 2018

Battery systems consists of one or more storage batteries and battery chargers, and includes inverters, converters, and associated electrical equipment. As instruments are increasingly becoming computerized and mobile, systems’ performance and reliability depend... Read more

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