Medical Devices

The convergence of information technology with medical devices is transforming the landscape of patient care. Medical devices integrated with mobile applications for monitoring and diagnosis of disease conditions reduces 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 costs and time for tests. Be it diagnostics, surgery, monitoring or treatment, medical devices provide convenience and help increase access to health services. Growth in this industry is typically derived from innovation and focused patient care.

Challenges

Integrating rapidly evolving technologies inexisting products in order to maintain competitive advantage in the market is a constant challenge faced by medical device companies. 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 are planning to spend over 6% of revenue on R&D till 2017. At the same time, increasing cost pressure is posing a challenge for companies to launch new technologies at low costs. Moreover, new regulatory requirements and fierce competition are creating new complexities and challenges for companies operating in this sector. The new Unique Device Identification (UDI) guidelinesintroduced in 2014will aid the stakeholders in saving costs; however also involves implementation cost for the medical device manufacturers.

Home Healthcare Devices to Fuel Market Growth

Increasing self-medication practices is in turn driving demand for home healthcare devices. The launch of glucose monitors, insulin delivery devices, oxygen concentrators and nebulizers have contributed to increased access to healthcare system in developing countries. Driven by an increasing awareness of lifestyle disorders and increasing awareness about new technologies, consumers are likely to adopt more sophisticated devices to self-monitor their health conditions. For consumers, this could mean convenience in time and travel and reduced healthcare costs.For doctors on the other hand it could mean more efficient and effective healthcare, driven by patients who take greater responsibility for their own health. However, app-based devices are facing challenges with respect to the FDA approval.

Growth in Emerging Economies

Although North America dominates the global medical devices market, significant growth is projected to be observed in the Asia Pacific and Latin America regions. Inadequate access to healthcare system would open up large opportunities for medical devices. Rapidly expanding patient pool, rise in healthcare spending, and increasing health awareness in these markets are expected to be supportive factors for companies to invest in these regions. However, the price points need to be low compared to that in western markets. Also, the distribution, manufacturing and business models need to be changed to make a successful foray in these markets. Mergers and acquisitions are projected to continue in these regions in order to help companies strengthen their product portfolios and increase their market reach.

Conclusion

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

Coherent Market Insights
Active Implantable Medical Devices Market by Product Type (Pacemaker, Implantable Cardioverter Defibrillator, Cardiac Resynchronization Therapy Devices, Neurostimulator, Drug Infusion Pump, Implantable Loop Recorder, Cochlear Implant, and others), and by Region - Global Forecast to 2025

Published Date : Dec 2017

Active Implantable Medical Devices Market Insights Active implantable medical devices are medical devices totally or partially introduced into the body by a surgical procedure in a natural orifice and remains

Coherent Market Insights
Global Sports Medicine Market, by Product Type (Body Reconstruction Products, Body Support and Recovery, and Accessories), by Application (Hip and Groin Injuries, Knee Injuries, Back and Spine Injuries, Ankle and Foot Injuries, Elbow and Wrist Injuries, Shoulder Injuries, and Other Injuries), and by Geography - Trends and Forecast to 2025

Published Date : Dec 2017

Global Sports Medicine Market Insights Sports medicine is the treatment and prevention of sports related injuries. These injuries include strain, sprain, musculoskeletal injuries, soft tissue damage joint dis

Coherent Market Insights
Global Microfluidic Market, by Material Type (Silicon-Based Microfluidic, Glass-Based Microfluidic, Polymer-Based Microfluidic, and Others), by Application (In Vitro Diagnostic Devices, Drug Delivery Devices and Monitoring Devices), and by Region - Trends and Forecast till 2025

Published Date : Nov 2017

Microfluidic Market  Microfluidic devices enables the precise processing of micro liter (~0.01-10 µl) samples and allows to perform significant biological or chemical processing such as sampling, pre-processing and measuremen

Coherent Market Insights
Global Life Cell Imaging Market, by Product Type (Instruments and Consumables), by Modality (Portable and Standalone), by End-use Industry (Hospitals, Research Laboratories, Biotechnology Companies and Pharmaceutical Companies) and by Region - Trends, and Forecast till 2025

Published Date : Nov 2017

Life Cell Imaging Market – A step towards improvement in drug discovery Cellular imaging refers to the techniques that allows the detection and analysis of various cellular organelles and macromolecules

Coherent Market Insights
Intrapartum Monitoring Devices Market, By Device Type (Monitors and Electrodes), By Method (Invasive and Non-Invasive), By End Users (Hospitals, Maternity Centers, and Others) and By Region - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Intrapartum monitoring device is a type of fetal monitoring device, used for assessing uterine activity and fetal heart rate patterns during the onset of labor. Intrapartum monitoring device aids in reducing risks and complications such as brain damage, cerebral palsy

Coherent Market Insights
Smart Medical Devices Market, by Device Type (Diagnostic & Monitoring Devices and Therapeutic Devices) and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Smart medical devices refers to the electrical devices that have an autonomous processing system within them and are used to monitor a range of health and fitness parameters on an everyday basis. These devices provide a multitude of advantages to the patient and careg

Coherent Market Insights
Stethoscope Market, By Product Type (Dual Head Stethoscope, Single Head Stethoscope, and Triple Head Stethoscope), By Application (Human and Veterinary), By End Users (Hospitals, Clinics, Academic & Institutes, Homecare Settings, and Others) and By Region - Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-2026

To Be Published : Sep 2018

Stethoscope is an acoustic medical device used for auscultation based physical examination of an animal or humans. The resonator placed beneath the small disc at one end amplifies sound of lungs, heart, esophagus or fetal heart rate. Stethoscope is a fundamental compo

Coherent Market Insights
Pen Needles Market, by Type of Needle (Standard Pen Needles and Safety Pen Needles), by Needle Length (4mm, 5mm, 6mm, 8mm,10mm, and 12mm), by Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacies) and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Pen needles are used to inject medication (most commonly to inject insulin in diabetic patients). Pen needles offer various advantages over conventional needle and syringe device such as they aid in self-administration of the medication and do not require expertise. P

Coherent Market Insights
Hospital Lighting Market, by Product Type (Troffers, Surface-Mounted Lights, Surgical Lamps and Others), by Technology (Fluorescent Technology, LED Technology, Solar, and Others), by Application (Patients Ward Light, Operation Theatre Light, Examination Light, Minor Surgical Light, and Others) and by Region - Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-2026

To Be Published : Sep 2018

Lighting is an integral part of healthcare infrastructure, as it is used in operation theatres, wards, ICU, and others in a healthcare setting. Manufacturers of lights are focusing on developing new products, in order to reduce cost and increase efficiency.

Coherent Market Insights
Closed MRI Systems Market, By Strength of Magnetic Field (1.5 Tesla, 3.0 Tesla, and Others), By Application (Brain, Spine, Cardiac, Breast, and Abdominal), and By End Users (Hospitals, Diagnostic Centers, and Research Institutes) - Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-2026

To Be Published : Sep 2018

Magnetic resonance imaging (MRI) is a non-invasive medical test that uses powerful magnetic field, radio waves, and a computer to produce detailed virtual image of internal organs of the body. Closed MRI systems have a tube-like tunnel with magnetic field of around 1.

Coherent Market Insights
Animal Wound Care Market, by Product Type (Surgical Wound Care Products, Advanced Wound Care Products, and Traditional Wound Care Products), by Animal Type (Livestock Animals and Companion Animals), by End User (Veterinary Clinics, Veterinary Hospitals, and Homecare Settings) and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Animal wound care products are medications used for the treatment of different injuries in animals. Animal wound care contains different products such as gel, sprays, dressing, and bandages. In the recent past, various advanced wound care products such as foam dressin

Coherent Market Insights
Mechanical Ventilators Market, by Product Type (Critical Care Mechanical Ventilators, Neonatal Intensive Care Mechanical Ventilators, Portable Mechanical Ventilators, and Transport Mechanical Ventilators), by Modality (Invasive & Non-Invasive), by End User (Hospitals, Trauma Centers, Home Healthcare, and Others), and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Mechanical ventilation is a process that helps patients breathe by assisting inhalation of oxygen and exhalation of carbon dioxide through lungs with the help of specialized machines known as mechanical ventilators, respirators or breathing machines. These ventilators

Coherent Market Insights
Ureteroscopes Market, by Product Type (Flexible Ureteroscopes, Semi-rigid Ureteroscopes, and Rigid Ureteroscopes), by Application (Therapeutic and Diagnostic), by End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Diagnostic Imaging Centers) and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Ureteroscope is a device, which is used for examining upper urinary tract and the technique is called ureteroscopy. Ureteroscope works similar to a cytoscope, however, it is longer and thinner than cytoscope, and is passed through the urethra to the bladder and then i

Coherent Market Insights
Steam Autoclave Market, By Configuration (Bench-Top Autoclave, Horizontal Autoclave, Vertical Autoclave, and High Pressure Autoclave), By End Users (Hospitals, Ambulatory Surgical Centers, Research Laboratories, Biotechnology Industries, Pharmaceutical Industries, and Others) and By Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Autoclaves are closed chambers used for sterilizing surgical equipment and other surgical instruments. Steam sterilization is a non-toxic and inexpensive way to eliminate microbes and spores. Steam sterilization is based on four parameters, which are steam, pressure,

Coherent Market Insights
Hemostats Market, by Instrument Type (Halstead Mosquito Hemostatic Forceps, Kelly and Crile Hemostatic Forceps, and Rochester-Carmalt Hemostatic Forceps), by End User (Hospitals, Multi-Specialty Clinics, Ambulatory Surgical Centers, Nursing Homes, and Others), and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Hemostats, also referred to as hemostatic clamp, arterial forceps or pean are surgical tools used in surgical procedures to control bleeding. The hemostats were designed to clamp blood vessels of small size to manage blood flow in hemorrhagic cases. These devices are

Coherent Market Insights
Bioreactors Market, By Bioreactor Type (Stainless Steel, Glass, and Single-Use), By Application (Large Scale Production, Pilot-Scale Production, and Full Scale Production), By Capacity (5L – 20L, 20L - 200L, 200L – 1500L, and Above 1500L), By End User (Biopharmaceutical Companies, Research Organizations, and Others), and By Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Bioreactor is an engineered or manufactured vessel that is used in the production of wide range of biological products. Industrial bioreactor is a vessel in which biochemical process is carried out using microbes and animal cells or biologically active compounds that

Coherent Market Insights
Gamma Probe Device Market, by Application (Sentinel Lymph Node Mapping and Parathyroid Surgery), By Modality (Mobile and Standalone), and By End Users (Hospital, Diagnostic Centers and Other End Users) - Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-2026

To Be Published : Sep 2018

Gamma probe device enables surgeons to identify radio-labelled tissue during pre-operation and intra-operation for radio guided diagnosis and surgery. Surgeons often find it difficult to locate tissues, such as tumors, parathyroid glands, and lymph nodes, within the h

Coherent Market Insights
Continuous Passive Motion Devices Market, by Device Type (Knee Joint CPM Devices, Shoulder Joint CPM Devices, Hip Joint CPM Devices, Ankle Joint CPM Devices, and Other CPM Devices), by Age Group (Children and Adults), by Design (Portable and Fixed), by End User (Hospital and Ambulatory Surgical Centers and Home-based Users), and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Continuous passive motion (CPM) devices are mechanical motorized devices that help move legs, shoulders, hands, and hips in arc motions for a specific period of time with adjusted speed. These devices assist faster recovery and are recommended to be used within 48 hou

Coherent Market Insights
Abdominal Aortic Aneurysm Repair Devices Market, by Product Type (Stents, Sheaths, Catheters, Balloons, Wires, and Others), by End User (Hospitals and Ambulatory Surgical Centers), and by Geography- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

To Be Published : Sep 2018

Abdominal Aortic Aneurysm (AAA) refers to the enlargement in part of the aorta, the main blood vessel that delivers blood to the body, which passes through the abdomen. AAA usually affects people over 50 years and is more common in men as compared to women. Others ris

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.