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

Brain Health Devices Market, By Device Type (Magnetic Resonance Imaging, Magneto Encephalogram, Computed Tomography, Transcranial Doppler Device, and Others), by application (Stroke, Dementia, Epilepsy, Dyslexia, and Others), by end user (Hospitals, Specialty Clinics, and Others), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2019 - 2026

Published Date : Jul 2019

Brain health devices, also known as brain monitoring devices, include magneto encephalograms, cerebral oximeters, electromyography (EMG) devices, deep brain stimulation systems (brain pacemaker), and other implantable brain devices. These devices are used to control a... View more

Coherent Market Insights

Organ Preservation Solutions Market, By Solution Type (Viaspan, Custodiol HTK, Renograf, Hypothermosol, Perfadex, Lifor, HBS Solution, siRNA Transplant Solutions, Others), By Technique Type (Hypothermic Perfusion Preservation, Static Cold Storage, 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

Organs are vulnerable to environment outside the human body; hence, they are kept in preservation solutions that have a composition similar to that of human body fluids. These solutions are known as organ preservation solutions and are typically composed of ions, prot... View more

Coherent Market Insights

Dental Consumables Market, By Product Type (Dental Implants, Crowns & Bridges, Dental Biomaterials, Orthodontics, Endodontics, Periodontics, Retail Dental Care Essentials, 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

Dental consumables are specially created materials and are specifically designed according to the need in dental complications. Different types of dental consumables are available and their application and characteristics differ according to their intended use. ... View more

Coherent Market Insights

Sleep Aids Market, By Product Type (Medication, Sleep laboratories, Mattresses and pillows, Sleep apnea devices, Others), By Sleep Disorder (Insomnia, Sleep apnea, Restless legs syndrome, Narcolepsy, Night terrors, 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

Sleep aids are pills and medical devices that are used in the diagnosis and treatment of sleep disorders. Sleep aids consist of various products such as medications, sleep laboratories, sleep apnea devices, and mattresses & pillows. Medications generally include d... View more

Coherent Market Insights

U.S Hospital Beds Market, by Product Type (Electric Beds, Semi-Electric Beds, and Manual Beds), by Usage (Acute Care Beds, Psychiatric Care Beds, Long-Term Care Beds, and Others), by Application (Intensive Care Beds and Non-Intensive Care Beds), and by End User (Home Care Settings, Hospitals, Elderly Care Facilities, Ambulatory Surgical Centers, and Others) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published Date : Mar 2022

Hospital beds are specially designed for patients to provide them with extra comfort, relief, and convenience during the time of hospitalization. These beds are a crucial component of the healthcare infrastructure and commonly used during examinations, diagnosis of di... View more

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