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 Hyperbaric Oxygen Therapy Devices Market

Published Date : Feb 2025

The Global Hyperbaric Oxygen Therapy (HBOT) Devices Market is estimated to be valued at USD 3.80 Bn in 2025 and is expected to reach USD 5.46 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.3% from 20... View more

Coherent Market Insights Compression Therapy Market

Published Date : Feb 2025

Compression therapy market is undergoing tremendous growth owing to the rising awareness regarding lymphedema, deep vein thrombosis, and chronic venous insufficiency conditions. Compression therapy aids in preventing and managing such conditions by applying graduated ... View more

Coherent Market Insights Prescription Lenses Market

Published Date : Feb 2025

The Global Prescription Lenses Market is estimated to be valued at USD 50.15 Bn in 2025 and is expected to reach USD 73.93 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.7% from 2025 to 2032.The glob... View more

Coherent Market Insights Orthopedic Braces And Support Market

Published Date : Feb 2025

The Global Orthopedic Braces & Support, Casting & Splints Market is estimated to be valued at USD 8.02 Bn in 2025 and is expected to reach USD 12.79 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.9%... View more

Coherent Market Insights Bone Glue Market

Published Date : Feb 2025

The Global Bone Glue Market is estimated to be valued at USD 3.08 Bn in 2025 and is expected to reach USD 4.60 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2025 to 2032. Bone glue, also kno... View more

Coherent Market Insights Global Urine Collection Devices Market

Published Date : Feb 2025

Global urine collection devices market growth is driven by rising prevalence of urinary incontinence and increasing geriatric population. Urine collection devices are primarily used for the collection and disposal of urine that is discharge or drained into the urine b... View more

Coherent Market Insights Hernia Repair Devices And Consumables Market

Published Date : Feb 2025

The Global Hernia Repair Devices Market is estimated to be valued at USD 6.48 Bn in 2025 and is expected to reach USD 8.70 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2025 to 2032. The glo... View more

Coherent Market Insights Dental Simulator Market

Published Date : Feb 2025

The global dental simulator market size is estimated to be valued at USD 471.8 Mn in 2025 and it is expected to reach USD 902.0 Mn by 2032, registering a CAGR of 9.7% during the forecast period. A dental simulator is a virtual reality tool that allows dental professio... View more

Coherent Market Insights Bone Growth Stimulator Market

Published Date : Feb 2025

The Global Bone Growth Stimulator Market is estimated to be valued at USD 1.26 Bn in 2025 and is expected to reach USD 1.83 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032. Bone g... View more

Coherent Market Insights Atrial Fibrillation Market

Published Date : Feb 2025

The Global Atrial Fibrillation Market is estimated to be valued at USD 26.43 billion in 2025 and is expected to reach USD 43.57 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.4% from 2025 to 2032. At... View more

Coherent Market Insights Deep Brain Stimulation Devices Market

Published Date : Feb 2025

The Global Deep Brain Stimulation Devices Market is estimated to be valued at USD 1.66 Bn in 2025 and is expected to reach USD 3.38 Bn by 2032, growing at a compound annual growth rate (CAGR) of 10.7% from 2025 to 2032. The global deep brain stimulation devices market... View more

Coherent Market Insights In Vivo Cro Market

Published Date : Feb 2025

In vivo CRO market involves contract research organizations (CROs) that help pharmaceutical and biotechnology companies in non-clinical or pre-clinical stages of drug development by outsourcing their research needs to these specialized firms. CROs conduct experiments ... View more

Coherent Market Insights Interventional Neurology Market

Published Date : Feb 2025

The Global Interventional Neurology Market is estimated to be valued at USD 2.87 Bn in 2025 and is expected to reach USD 4.32 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.0% from 2025 to 2032. Glob... View more

Coherent Market Insights Ingestible Sensors Market

Published Date : Feb 2025

The global ingestible sensors market is estimated to be valued at USD 747.8 Mn in 2025 and is expected to exhibit a CAGR of 13.6% during the forecast period (2025-2032). The global ingestible sensors market is growing at a rapid pace primarily due to the increasing ... View more

Coherent Market Insights Rhinoplasty Implants Market

Published Date : Feb 2025

The global rhinoplasty implants market size is valued at USD 1,066.7 Mn in 2025. Rhinoplasty, commonly known as nose surgery, is an elective cosmetic surgical procedure that reshapes and improves the appearance of the nose. It is one of the most popular cosmetic proce... View more

Coherent Market Insights Medical Shoe Covers Market

Published Date : Feb 2025

The global medical shoe covers market has been gaining traction over the recent years, driven by the growing awareness about hygiene and infection control in the healthcare settings. Medical shoe covers, also known as booties, are disposable shoe coverings worn by doc... View more

Coherent Market Insights Dental Service Market

Published Date : Feb 2025

Global dental service market is witnessing steady growth due to rising prevalence of dental diseases as well as increasing awareness regarding oral healthcare. Factors such as growing geriatric population worldwide, rising emphasis on dental aesthetics, and increasing... View more

Coherent Market Insights Life Science Instrumentation Market

Published Date : Feb 2025

The global life science instrumentation market refers to the scientific instruments, devices, equipment, and consumables that aid in scientific experimentation and research activities related to life sciences streams such as biology, bioengineering, biotechnology, med... 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.