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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

Orthopedic Trauma Devices Market, by Fixator Type (Internal Fixator [Screws, Plates, Nails, and Others], External fixator), by Material (Non-absorbable [Titanium, Stainless steel stand, and Other] and Bio-absorbable), by End User (Hospitals, Orthopedic Clinic, and Ambulatory Surgical Centers), and by Region - Global Forecast to 2025

Published Date :May 2018

Orthopedic Trauma Devices Market Orthopedic trauma is a condition that includes injuries mainly affecting the human skeletal system thereby, limiting smooth mobility of the person affected and reduces quality... Read more

Coherent Market Insights

Geriatric Care Services Market - by Service Type (Home Healthcare, Assisted Living Facilities, Adult Day Care Services, Continuing Care, and Skilled Nursing Facilities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Published Date :May 2019

Global Geriatric Care Services Market – Providing Effective Care for Elders Geriatric care services play a major role in advanced healthcare, as it eases the life of the elderly population by offering ... Read more

Coherent Market Insights

Clinical Laboratory Services Market, By Test Type (Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics, Other Esoteric Tests), By Type of lab (Clinic-based, Hospital-based, Stand-alone), 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

Clinical laboratories are essentially centers for conducting diagnostic testing services that help in identifying disease causes, level of progression (stage) of the disease, resultant abnormalities and imbalances in the physiology, and other such factors. These tests... Read more

Coherent Market Insights

Custom LASIK Surgery Market, by Procedure (Wavefront Guided, Wavefront Optimized, and Topography), by Therapeutic Applications (Myopia, Hyperopia, Astigmatism, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published Date :Mar 2020

Custom LASIK Surgery Market – Alternative to Eyewear LASIK surgery is an effective method to correct vision and is used in the treatment of various refractive disorders such as myopia, hyperopia, and ... Read more

Coherent Market Insights

Elderly and Disabled Assistive Devices Market, by Device Type (Medical Mobility Aids and Ambulatory Devices, Medical Furniture and Bathroom Safety Products, Hearing Aids and Vision and Reading Aids), and by End User (Hospital, Home Care Settings, Others) - Size, Share, Trends, and Forecast 2019 - 2027

Published Date :Aug 2019

Elderly and Disabled Assistive Devices – Evolving from Luxury to Necessity Assistive devices and technologies minimize individual’s dependence on others and helps improve quality of life. Devices ... Read more

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