Contact Us Register
Contact Us Careers Register

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... View more

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.

Challenges

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.

Conclusion

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.View less

Medical Devices Published Insights

Coherent Market Insights Digital Health Monitoring Devices Market

Published Date : Feb 2025

The global digital health monitoring devices market is estimated to be valued at USD 5.26 Bn in 2025 and is expected to reach USD Bn 17.79 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 19.0% from 2025 to 2032. The global digital health monitoring ... View more

Coherent Market Insights Refractive Surgery Market

Published Date : Feb 2025

The global refractive surgery market is estimated to be valued at USD 253.3 Mn in 2025 and is expected to reach USD 475.3 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.4% from 2025 to 2032. Refractive surgery refers to a group of surgical proced... View more

Coherent Market Insights Sentinel Node Biopsy Market

Published Date : Feb 2025

The global sentinel node biopsy market is estimated to be valued at USD 806.3 Mn in 2025 and is expected to reach USD 1,312.7 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2025 to 2032. Sentinel lymph node biopsy is an important procedure fo... View more

Coherent Market Insights Sleep Tech Devices Market

Published Date : Feb 2025

Global sleep tech devices market is estimated to be valued at USD 23.32 Bn in 2025 and is expected to exhibit a CAGR of 16.7% during the forecast period (2025-2032).The sleep tech devices market has been witnessing steady growth over the past few years owing to incr... View more

Coherent Market Insights Ambulatory Electrocardiography Market

Published Date : Feb 2025

The ambulatory electrocardiography market is estimated to be valued at USD 748.8 Mn in 2025 and is expected to reach USD 1,326.4 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2025 to 2032. Ambulatory electrocardiography, commonly known a... View more

Coherent Market Insights Body Fat Measurement Market

Published Date : Feb 2025

Global body fat measurement market is estimated to be valued at USD 803.1 Mn in 2025 and is expected to exhibit a CAGR of 6.9% during the forecast period (2025-2032). The body fat measurement market has been growing steadily over the past few years due to the rising... View more

Coherent Market Insights Hospital Gowns Market

Published Date : Feb 2025

Global hospital gowns market is estimated to be valued at USD 2.84 Bn in 2025 and is expected to exhibit a CAGR of 8.3% during the forecast period (2025-2032). Hospital gowns are essential for providing privacy, safety, and comfort to patients in hospitals. They pro... View more

Coherent Market Insights Platelet Aggregation Devices Market

Published Date : Feb 2025

Global platelet aggregation devices market is estimated to be valued at USD 653.4 Mn in 2025 and is expected to exhibit a CAGR of 6.8% during the forecast period (2025-2032). Platelet aggregation devices are used in clinical settings to aid in diagnosis of platelet ... View more

Coherent Market Insights Percutaneous Transluminal Angioplasty Balloons Catheter Market

Published Date : Feb 2025

Global percutaneous transluminal angioplasty balloons catheters market is estimated to be valued at USD 1.99 Bn in 2025, and is expected to exhibit a CAGR of 9.3% during the forecast period (2025-2032). Percutaneous transluminal angioplasty (PTA) balloons catheters ar... View more

Coherent Market Insights Medical Equipment Calibration Services Market

Published Date : Feb 2025

Global medical equipment calibration services market is estimated to be valued at USD 1.74 Bn in 2025 and is expected to exhibit a CAGR of 10.3% during the forecast period (2025-2032). Medical equipment calibration services market has witnessed significant growth, o... View more

Coherent Market Insights Digital Spine Analysis Test Market

Published Date : Feb 2025

Global digital spine analysis test market is estimated to be valued at USD 2.58 Bn in 2025 and is expected to exhibit a CAGR of 5.6% during the forecast period (2025-2032). Digital spine analysis test is an emerging non-invasive radiological technique that uses adva... View more

Coherent Market Insights Veterinary Ultrasound Market

Published Date : Feb 2025

Global veterinary ultrasound market is estimated to be valued at USD 543.3 Mn in 2025 and is expected to exhibit a CAGR of 7.6% during the forecast period (2025-2032). Veterinary ultrasound is an important medical device used in veterinary practice for diagnostic an... View more

Coherent Market Insights Temperature Management Market

Published Date : Feb 2025

Global temperature management market is estimated to be valued at USD 3.26 Bn in 2025 and is expected to exhibit a CAGR of 4.3% during the forecast period (2025-2032). Temperature management refers to technologies and equipment used to control temperature in various... View more

Coherent Market Insights Percutaneous Transluminal Coronary Angioplasty Balloon Catheter Market

Published Date : Feb 2025

Global percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market is estimated to be valued at USD 2.84 Bn in 2025 and is expected to exhibit a CAGR of 9.8% during the forecast period (2025-2032). Percutaneous transluminal coronary angioplasty (PTCA... View more

Coherent Market Insights Advanced Drug Delivery Systems Market

Published Date : Feb 2025

Global advanced drug delivery systems market is estimated to be valued at USD 269.48 Bn in 2025 and is expected to exhibit a CAGR of 5.9% during the forecast period (2025-2032). Advanced drug delivery systems have enabled the development of novel formulations that c... View more

Coherent Market Insights Spectacle Lens Market

Published Date : Feb 2025

Global spectacle lens market is estimated to be valued at USD 57.56 Bn in 2025 and is expected to exhibit a CAGR of 4.6% during the forecast period (2025-2032). With increasing awareness about ocular health and eyesight, more people are opting for corrective lenses.... View more

Coherent Market Insights Diabetes Care Market

Published Date : Feb 2025

Global diabetes care market is estimated to be valued at USD 34.51 Bn in 2025 and is expected to exhibit a CAGR of 8.9% during the forecast period (2025-2032). Diabetes is a chronic metabolic disease that affects how the body utilizes glucose. The number of people d... View more

Coherent Market Insights Pediatric Interventional Cardiology Market

Published Date : Feb 2025

Global pediatric interventional cardiology market is estimated to be valued at USD 3.18 Bn in 2025 and is expected to exhibit a CAGR of 10.5% during the forecast period (2025-2032). Pediatric interventional cardiology market is witnessing steady growth owing to the ... View more

LogoCredibility and Certifications

Trusted Insights, Certified Excellence! Coherent Market Insights is a certified data advisory and business consulting firm recognized by global institutes.

Reliability and Reputation

860519526

Reliability and Reputation
ISO 9001:2015

9001:2015

ISO 27001:2022

27001:2022

Reliability and Reputation
Reliability and Reputation
© 2025 Coherent Market Insights Pvt Ltd. All Rights Reserved.