Contact Us 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 Automated Suturing Devices Market

Published Date : Dec 2019

Automated suturing devices are used for the wound closure. Suture heal the tissues and keep the wound closed together. There are two type of automated suturing devices reusable and disposable used to suture surgical wound and wound caused by trauma. Automated suturing... View more

Coherent Market Insights Arthroscopy Procedures And Products Market

Published Date : Dec 2019

Arthroscopy is a minimally invasive surgical procedure performed by surgeons to treat the acute or chronic injury related to knee, shoulder, hip and wrist by avoiding post-surgery complications, infection and appears minimum scars at surgery site. Arthroscopy procedur... View more

Coherent Market Insights Alcohol Breathalyzer And Drug Testing Equipment Market

Published Date : Dec 2019

A breath analyzer is also known as a ‘Breathalyzer’. It is a portable device used by the regulatory authorities across the world to identify if suspect has consumed alcohol above the permitted limits. In emerging and developed countries such as U.S., India... View more

Coherent Market Insights Electroencephalography Devices Market

Published Date : Dec 2019

Electrophysiology is the branch of physiology study which helps in assessment of electrical properties of biological properties and tissues. EEG (Electroencephalography) devices are used as a first line diagnosis for neurological disorders such as such as epilepsy, br... View more

Coherent Market Insights Liquid Chromatography Mass Spectrometry Market

Published Date : Nov 2019

Liquid chromatography mass spectrometry (LCMS) market has grown significantly over the last decade. Increasing research and development expenditure in the healthcare sector and increasing adoption of various growth strategies by the market players has boosted demand f... View more

Coherent Market Insights Balloon Catheters Market

Published Date : Nov 2019

The balloon catheter is a flexible, tubular device with a balloon at its tip that is used to create, enlarge or remove blockage of a passageway within the body, by passing it through body channels. The balloon tip can be expanded by water or air to remove the blockage... View more

Coherent Market Insights Hearing Protection Devices Market

Published Date : Nov 2019

Hearing loss is the inability to hear any kind of sounds, whereas deafness is the inability to know and understand speech heard even after the sound is amplified. Intense deafness means an individual cannot hear at all, characterized by the inability to detect or iden... View more

Coherent Market Insights Wound Dressing Market

Published Date : Sep 2019

High incidence of trauma wounds, injuries, burns, and chronic wounds such as diabetic foot ulcers results in constant demand for wound dressing. Furthermore, wound dressing is important post-surgery in order... View more

Coherent Market Insights Smoke Evacuation System Market

Published Date : Sep 2019

Smoke evacuation systems are used to arrest smoke from the surgical site and eliminates out of  the surgery room. These systems include products such as smoke evacuators, filters, smoke evacuation tubes, and others. Smoke evacuation devices are used in various su... View more

Coherent Market Insights Gynecological Devices Market

Published Date : Sep 2019

Gynecological devices include devices such as diagnostic imaging devices, surgical devices, sterilization and other devices for diagnosis and treatment of various disease among women. Most of the women worldwide are oblivious to the high risk of dread... View more

Coherent Market Insights Laboratory Glassware And Plasticware Market

Published Date : Sep 2019

Laboratory glassware and plasticware are used for research purposes and includes instruments such as test tubes, beakers, funnels, condensers, flasks, burettes, pipettes, and bottles. The glassware ... View more

Coherent Market Insights Medical Vacuum System Market

Published Date : Sep 2019

Various types of vacuum pumps such as dry claw vacuum system, oil-sealed liquid ring, and water-sealed liquid ring are available in the market. These systems are used in operation theaters, intensive cares, emergency units, and respirology units. Medical vacuum system... View more

Coherent Market Insights Digital Radiography Market

Published Date : Sep 2019

Digital radiography is a similar technique to conventional radiography, with the only difference being the former using a phosphor image plate instead of a conventional film. Currently, based on various detector and readout technologies, the medical devices and equipm... View more

Coherent Market Insights 3d Printing For Medical Sector Market

Published Date : Aug 2019

3D printing is revolutionizing the healthcare industry by providing improved therapy outcomes and affordable medical devices. This technology is enabling manufacturers to produce small and delicate parts of an organ or medical device with a high accuracy, which is a v... View more

Coherent Market Insights Zinc Paste Bandage Market

Published Date : Aug 2019

Zinc paste bandages are medical products that allow compression, and provide moistness to the skin. The zinc paste bandages is widely utilized by orthopedists, phlebologists, dermatologists, physiotherapists, sports medicine practitioners, general practitioners, and p... View more

Coherent Market Insights Burn Care Market

Published Date : Aug 2019

Burn wounds are extremely painful, highly traumatic, and can lead to permanent scarring, disfigurement or even death. The management of these wounds is based on the injured area and severity and depth of burn. Burn care market has witnessed various technological advan... View more

Coherent Market Insights Nutrition Testing In Women And Children Market

Published Date : Aug 2019

Nutrition plays an important role in prenatal care. Nutritional health during pregnancy affects health of both mother and the fetus. According to the World Health Organization, American Paediatric Association (ADA), and American Congress of Obstetricians and Gynecolog... View more

Coherent Market Insights Prosthetic Liners Market

Published Date : Aug 2019

Prosthetic liner is a protective cover developed from a flexible material, which is fitted on a residual limb, and connects the prosthetic socket. It helps to reduce friction between the residual limb and prosthetic socket, and provides better comfort to patients who ... 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
Reliability and Reputation
Reliability and Reputation
ISO 9001:2015

9001:2015

ISO 27001:2022

27001:2022

© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.