Medical Devices

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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

Fundus Camera Market, By Product Type (Mydriatic Fundus Cameras (Tabletop, Handheld), Non-Mydriatic Fundus Cameras (Tabletop, Handheld), Hybrid Fundus Cameras, ROP Fundus Cameras), By End-Use(Hospitals, Ophthalmology Clinics, Ophthalmic & Optometrist Offices), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : Sep 2021

A fundus camera is a specialized low power microscope with an attached camera. Fundus photography is used to inspect anomalies associated to diseases that affect the eye, and to monitor their progression. Standard fundus photography, ultra-widefield fundus photography... Read more

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Digital Wound Measurement Devices Market, By Wound Type (Diabetic Ulcer, Chronic Wounds, Burns, Incisional, Traumatic), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published Date : Feb 2020

Digital Wound Measurement Devices Market – Insights A structured approach is required to the assessment, diagnosis and management of patients with wounds in order to provide a good standard of care. Digital ... Read more

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Endoscopy Device Market, By Product Type (Rigid Endoscopes, Flexible Endoscopes, Endoscopic Visualization Systems, Endoscopic Accessories), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Sep 2020

Endoscopy devices are used as both diagnostic and therapeutic devices that serve clinical solutions to the world by allowing close examination of internal organs and body structures. As opposed to conventional imaging devices like X-rays, endoscopic devices possess a ... Read more

Coherent Market Insights

Capnography Equipment Market, By Type (Mainstream Capnographs, Sidestream Capnographs, Microstream Capnographs), By End User (Hospitals, Ambulatory, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Sep 2020

Capnography is defined as a monitoring tool for examining the concentration or partial pressure of CO2 in expiratory gases. Capnography is mainly used as a monitoring tool during sedation procedure and diagnosis. Statistics... Read more

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