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

Pakistan Clear Aligners Market, by Material Type (Polyurethane Plastic, Polyethylene Terephthalate Glycol (PETG), Poly-vinyl Chloride (PVC), and Others), by Age Group (Pediatric and Adult), and by End User (Hospitals and Dental Clinics) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Dec 2020

The Pakistan clear aligners market is expected to gain significant traction owing to rising disposable income, and willingness of people to spend more on dental services, both medical and cosmetic. Aligners take less time to comple... View more

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Gelatin Sponge Market, by Origin (Porcine and Bovine), by Distribution Channel (Public and Private), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published Date : May 2021

Gelatin sponge are generally small, sterile, and surgical sponges that are used in surgical procedures, as a hemostatic device. Each gelatin sponge is capable of absorbing and holding blood, according to its mesh size. Gelatin sponges are manufactured using specially ... View more

Coherent Market Insights

Radiofrequency Ablation Devices Market for Pain Management, By Product (Equipment, Reusables (Probes, Electrodes), Disposables (Cannulas, Needles, RF- Single Use Probe, RF- Single Use Electrodes)), By End User (Hospitals, Ambulatory Surgical Centers, Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Oct 2020

Radiofrequency ablation is a minimally invasive medical procedure involving the ablation of targeted dysfunctional tissues via the generation of heat from high frequency alternative current. It functions by converting electrical energy to heat energy and then utilizin... View more

Coherent Market Insights

Ophthalmic Refractometer Market, by Product Type (Automatic (Portable/Handheld and Non Portable) and Semi–Automatic), by End User (Optometric Centers, Hospitals/Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Oct 2020

Ophthalmic refractometer is an equipment which is used for measuring lens strength and power, in order to provide patients with proper eyeglasses for correcting their vision. Common types of vision impairments... View more

Coherent Market Insights

IV Infusion Bottle Seals & Caps Market, by Product Type (Polypropylene Caps ( Euro Pull Ring Caps, Double Fold Caps, and Foil Caps) and Rubber Seals), by Neck Size (Up to 20 mm, 21 to 28 mm, 29 to 32 mm, and Above 32 mm), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date : Oct 2020

Seals and caps are used as the closure for the packaging of pharmaceutical liquids, syrup, parenteral formulations, and others. The main function of such seals and caps is to prevent the contamination and keep the content intact. T... View more

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