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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... 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 Global Bio Imaging Market

Published Date : Mar 2025

Bio-imaging is a powerful and essential technique that is widely used in the realm of biological and medical sciences. It refers to the ensemble of technologies that capture, process, and visualize structural and functional information of biological systems, ranging f... View more

Coherent Market Insights Global Mycoplasma Testing Market

Published Date : Mar 2025

Mycoplasma testing is essential in the field of biotechnology and pharmaceuticals. There are different types of products available in the market for mycoplasma testing. The major products can be categorized into two types - kits and services. ... View more

Coherent Market Insights Global Cerumen Removal Market

Published Date : Mar 2025

Cerumen, commonly known as earwax, serves an important protective role inside the ear canal. However, excess earwax buildup can cause discomfort and even hearing loss. To remove built-up earwax, a variety of cerumen removal products are available. ... View more

Coherent Market Insights Global Multiplex Assay Market

Published Date : Mar 2025

The multiplex assay market has been witnessing significant growth in the recent past on account of the rising incidence of chronic and infectious diseases globally. Multiplexing permits simultaneous detection of multiple analytes in a single assay run, which enhances ... View more

Coherent Market Insights Global Lung Stent Market

Published Date : Mar 2025

The lung stent market has been witnessing steady growth over the past few years, mainly due to the increasing prevalence of chronic respiratory diseases globally. Lung stents are small mesh tubes inserted into the airways of the lungs through minimally invasive proced... View more

Coherent Market Insights Global Empty Iv Bags Market

Published Date : Mar 2025

Empty IV bags are medical devices intended for intravenous therapy to administer medications, blood, and other medical fluids to patients. They are made up of sterile and non-pyrogenic plastic such as PVC, polyethylene, polypropylene, and ethylene vinyl acetate. The e... View more

Coherent Market Insights Global Vascular Imaging Market

Published Date : Mar 2025

Vascular imaging refers to different diagnostic imaging techniques that are used to visualize the interior surface of blood vessels and detect abnormalities. The main products utilized in vascular imaging include ultrasound, x-ray imaging, Computed Tomography (CT) and... View more

Coherent Market Insights Global Epinephrine Autoinjector Market

Published Date : Mar 2025

Epinephrine autoinjector is a single-use disposable automatic injection device that is intended for emergency treatment of allergic reactions including anaphylaxis. Anaphylaxis is a life-threatening condition that occur due to an extreme allergic reaction to certain f... View more

Coherent Market Insights Global Female Urination Devices Market

Published Date : Mar 2025

Female urination devices, also known as FUDs or she-wees, are designed to help women urinate while standing up. These products aim to address the sometimes difficult hygiene and mobility issues that women face during activities like camping, sports, or festivals. Allo... View more

Coherent Market Insights Global Osmometers Market

Published Date : Mar 2025

Osmometers are analytical instruments that are used to determine the osmotic strength of bodily fluids and other solutions through a process known as osmometry. These work by measuring the freezing point depression of a solution relative to pure water, the greater the... View more

Coherent Market Insights Global Mobile Ecg Devices Market

Published Date : Mar 2025

Mobile electrocardiogram (ECG) devices have witnessed significant traction in recent years owing to advantages such as portability, convenience and quick diagnosis. These devices enable recording of heart activity through sensors placed on the chest and transmit the E... View more

Coherent Market Insights Global Medical Spa Market

Published Date : Mar 2025

Global medical spa market has witnessed significant growth in the recent years. With rising health consciousness among consumers and growing preference for minimally invasive aesthetic treatments, demand for medical spa services has increased substantially. Individual... View more

Coherent Market Insights Global In Vitro Lung Model Market

Published Date : Mar 2025

In vitro lung models are experimental systems that aim to mimic the physiological and anatomical properties of the human lungs. They are widely used in drug discovery, toxicity testing, and studying lung diseases. By utilizing human lung cells and tissues grown outsid... View more

Coherent Market Insights Global Sacral Nerve Stimulation Market

Published Date : Mar 2025

Sacral nerve stimulation (SNS) is a minimally invasive procedure that involves placing a small medical device called an implantable neurostimulator to treat bladder, bowel, and pelvic floor disorders. There are two types of sacral ... View more

Coherent Market Insights Global Single Use Assemblies Market

Published Date : Mar 2025

Single-use assemblies, also known as single-use systems, are pre-assembled sets of fluid handling components that are designed for single use in the biopharmaceutical manufacturing process. These provide benefits like reduced risk of cross-contamination, lower costs o... View more

Coherent Market Insights Global Electroconvulsive Therapy Market

Published Date : Mar 2025

Electroconvulsive Therapy (ECT) is a medical treatment most commonly used for patients with severe major depression or bipolar disorder that has not responded to other treatments. It involves a brief electrical stimulation of the brain while the patient is under anest... View more

Coherent Market Insights Global Hollow Fiber Filtration Market

Published Date : Mar 2025

Hollow fiber filtration is a separation process that uses hollow fibers to remove particulates and other particles from a fluid based on size. It operates under the principle of membrane filtration, where a semi-permeable membrane allows only certain components like s... View more

Coherent Market Insights Global Angiography Equipment Market

Published Date : Mar 2025

Angiography equipment is commonly used in hospitals and diagnostic centers for minimally invasive surgeries. It helps doctors visualize the insides of blood vessels and organs with high precision. The growing prevalence of cardiovascular diseases and increasing invest... View more

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