Breast biopsy devices market has witnessed a phenomenal shift in nature over the past few decades. The ability to biopsy both non-palpable and palpable breast abnormalities have been among the biggest advancements in breast cancer diagnosis. However, the noteworthy development in this field is the evolution in biopsy methods. This report studies the global breast biopsy devices market in terms of product types, biopsy type, type of guidance system used for performing breast biopsy and geographical distribution.
This report on global medical imaging equipment market studies various technologies and products used for medical diagnosis in the field of healthcare. Medical imaging equipment helps in diagnosing various complex diseases such as chromosomal abnormalities, atherosclerosis, Parkinson’s and others.
Nurse call systems are communication equipment installed at healthcare organizations in order to enable easy communication between the staff and patients. The communication equipment are installed at the bedsides of patients so as to ensure convenient use of the system for critical patients. Common nurse call systems available in the market include buttons, intercom systems, mobile nurse call systems and integrated nurse call systems.
The worldwide injection molded plastic market volume was evaluated at 199870 million US dollars during year 2014.The market is predicted to experience substantial growth & expansion in coming years owing to growing demand for plastic parts across different end use sectors like automobile industry, home equipments, packaging sector, medical instruments and electronics & electrical sector.
The global biopsy devices market has undergone a phenomenal shift in nature due to the growing adoption of guidance based biopsy procedures. Biopsy refers to minimally invasive extraction of suspected abnormality in tissues for pathophysiological testing. The gradual rise in awareness among the patient population and alarming growth in cancer incidence in the global population that bears a high risk of chronic diseases and cancer are observed to be the prime factors that have led to the growth in demand for biopsy devices in the worldwide market.
The global ECG market is currently at a stable stage in the market with certain periodic technological innovations and improvements taking place in device features and characters over the time. This market with a large number of device manufacturers is highly fragmented and competitive.
Ostomy refers to a surgical procedure wherein artificial opening is created for elimination of body wastes. Body wastes such as urine, feces and mucus are collected in artificial bags attached to the artificial orifice and these products are called ostomy drainage bags. Ostomy drainage bags are used in treating various gastrointestinal conditions.
This report on global X-ray equipment market studies various technologies and products used for medical diagnosis in the field of healthcare. X-ray equipment helps in diagnosing various diseases such as cardiovascular, pulmonary, oral (dental) diseases and others. Globally the X-ray applications are implemented with several different technologies. Portability in diagnostic devices is the major factor shifting the imaging diagnostic market away from stationary imaging devices.
The global infusion pumps market is anticipated to grow at a steady pace during 2016-2022. The major factors influencing the demand for infusion pumps include growth in incidence of chronic pain, diabetes, gastrointestinal disorders and other debilitating chronic diseases and conditions. Auxiliary drivers if this market include the phenomenal rise in geriatric population pool and gradual technological developments in infusion pumps.
This report provides an in-depth analysis and market insights for the global pain management devices market. Rising incidence of chronic pain, chronic debilitating diseases and geriatric population pool play a vital role in the growing demand for pain management solutions worldwide. Lower side effects from use of devices than oral pain management solutions and surgeries also support the growth in demand for pain management devices.
This report on global ultrasound devices market studies various technologies, applications and products used for medical diagnosis in the field of healthcare. Ultrasound devices aid in diagnosing various diseases such as cardiology, obstetrics and gynecology, gastroenterology and others. Ultrasound is exploring relatively novel applications across several clinical specialties and points of care, from image-guiding interventions, biopsies and non-invasive diagnosis.
This report on global sleep apnea devices market studies the major trends, market size and forecast, and competition analysis of sleep apnea devices industry. The global sleep apnea devices market is witnessing fair growth attributed by technological development in the features of both diagnostic and therapeutic devices. Alarming reporting of sleep disorders, rising life-style related disorders, and the gradual growth in awareness about sleep disorders and their consequent effect on overall health greatly contribute to the growth of sleep apnea devices market.
This report on point-of-care diagnostics / testing (POCT) market studies various products and end-users market. POCT is considered as one of the most affordable technologies of global diagnostics market, and development in POCT technologies over period of time has been carried out through innovations in smart and portable bio-sensor, computing, and information and communication technologies. According to market experts the factors assisting the growth of POC diagnostics market are several government initiatives have aided in the development of innovative outpatient care models, to minimize hospital stays and rapidly increasing demand for home healthcare globally.
Ultrafast CT (also known as electron-beam tomography [EBT]) is used to diagnose heart disease in a few cases. Ultrafast CT is capable of taking multiple images of the heart within the time of a single heartbeat and provides in-depth detail about the function of heart and structures, and aids to decrease turnaround time required for the study. Ultrafast CT’s 3-dimensional (3D) version is mainly used to assess the pulmonary arteries and veins in the lungs.
Breast pumps are medically approved mechanical devices that assist in extraction of breast milk through suction mechanism and are used as a substitution to breastfeeding. These devices are also recommended in conditions such as inverted or flat nipples. Premature birth, breast engorgements and others. Portability, comfort, ease of use and technological features are the key factors determining the purchase pattern of breast pumps.
Orthopedic prosthetic devices are defined as external medical that substitute for the missing skeletal part. Orthopedic prosthetics are a vital component of rehabilitation of the injured or harmed skeletal system, associated musculature and joints. These devices are mostly used after trauma or surgical removal of body appendage, disability arising from congenital condition or similar such disabling illnesses. Orthopedic prosthetic devices efficiently facilitate replacement of such missing body part and make up for normal living.
A hospital bed is specifically created for hospitalized patients or others in need of some form of assistance and relief. The special features possessed by these beds are for both the comfort and well-being of patients and for the convenience of health care workers. The key features of hospital beds are the height for the entire bed, the feet, and the head is adjustable.
This report on global artificial pancreas device systems (APDS) studies the overall market scenario, the ongoing trends, future commercial prospects and the competition in the artificial pancreas device systems market. For the purpose of this study, the global artificial pancreas device systems market is studied for device type and geographical distribution. This study estimates the future prospects of the APDS, post introduction of certain target devices in the diabetes market. It is to be noted that the APDS thus described do not involve biomaterial, synthetic or artificial tissue or organs and bionic substitutes.
Urolithiasis or kidney stone is one of the most common renal conditions. The annual incidence of kidney stones in the industrialized world is 0.2%. In the U.S. the lifetime prevalence of the disease is 12% for men and 7% for women; whereas, familial history further increases the risk. Lifetime risk of kidney stones is 20% for Saudi Arabia, 8% -15% for the Western world and 2% to 5% for Asia.
The global optical imaging market is anticipated to undergo double-digit growth through 2022. Technological development in imaging technologies has been the greatest phenomenon witnessed in this market during the last few years. The global optical imaging market is mainly driven by increase in demand for non-invasive diagnostic alternatives, growing applications of optical imaging in therapeutic, diagnostic and translational research.
Imaging technologies such as X-ray, CT, ultrasound and MRI are the most common imaging modules used for diagnostics and other practices. Among these technologies, magnetic resonance imaging (MRI) is increasingly becoming the most preferred imaging module due to the offered advantages such as image precision, accuracy and minimum hazards from radiation exposure.
The growth of endoscopy devices market is attributed to growing preference for minimally invasive surgical procedures, R&D activities and growing prevalence of diseases and conditions that demand endoscopic procedures. In the coming future, the endoscopy devices market is expected to undergo rapid growth in Asia-Pacific, Latin America and Middle East and Africa regions.
Digital pathology refers to use of digital tools and solutions for automation of pathology processes and lab testing. Growing prevalence of cancer and chronic diseases, increasing demand for rapid pathological tests and automation of healthcare system are some of the major factors that facilitated the advent of digital pathology. Digital pathology conveniently improves workflow efficiency and deliver faster and accurate test results as against the conventional methods.
Intraoperative imaging systems assist in performing surgeries through image guidance. The possibility of shifting of the surgery target during the procedure (most commonly the brain) challenges pre-surgery imaging location. Intraoperative image guidance uses real time imaging to locate the surgery target and thus helps in precise monitoring and control over surgical procedure.
Healthcare analytics or healthcare analytical testing is a process of data collection from varied sources and their analysis for indicating trends for delivering improved healthcare. Tools such as predictive analytics, prescriptive analytics and descriptive analytics are the major analytical techniques used in healthcare analytical testing. Digital recording of clinical data is helpful in creating and maintaining paperless repository and eventually in improving process, efficiency and accuracy of clinical outcomes and thus the healthcare system.
Medical suction devices/units form an integral equipment in both hospital and ambulatory applications. Some of the factors that drive the medical suction units market are burgeoning preference for home healthcareand growing need for portable suction devices. Ongoing trend of opting for home healthcare has resulted in growth in demand for ergonomically convenient, cheap and portable suction equipment.
Medical animation is defined as educational film based on surgical, procedural and healthcare related topic using 3D graphics. Medical animation is addressed to a wide range of audience including researchers, students, public, and is most commonly used as an educational tool for professionals and students. Medical education at present has evolved from basic wire-frame models to intricate and interactive visualization tools also combined with head-mounted displays, sensory input, haptic tools, cave automatic virtual environments and stereoscopic lenses.
Escalating geriatric population, increasing birth rate, growth in number of premature births and intensified prevalence of malnutrition and chronic diseases are the prime contributors to the growing demand for clinical nutrition. Malnutrition is a grave issue faced affecting millions globally and clinical nutrition is the most effective way to treat malnutrition.
This report on global antibacterial drugs market studies various drug classes used for treatment of bacterial infections along with pipeline analysis of upcoming potential drugs. Bacterial infection, irrespective of its etiology is an important concern in patients with cirrhosis since it is associated with increased morbidity and mortality. According to World Health Organization (WHO), cirrhotic patients from developed countries indicate urinary tract infections (12 – 29%) to be the most frequent cause for bacterial sepsis followed by spontaneous bacterial peritonitis (15 – 23%), respiratory tract infection (6 – 10%) and bacteremia (4-9%).
The ophthalmology devices market is undergoing a steady market growth contributed by increasing prevalence of ophthalmic conditions and disorders, and diabetes. Aging population, development of healthcare infrastructure and lifestyle-related diseases are also among the driving factors for the ophthalmology devices market. On the other hand, challenges in terms of reimbursement and lack of awareness may hold back the growth of this market.
According to National Organization of Rare Disorders (NORD), acquired hemophilia is a rare autoimmune disorder characterized by bleeding that occurs in patients with a personal and family history negative for hemorrhages. In acquired hemophilia, the body produces antibodies that attack clotting factors, most often factor VIII. The medical practitioners suggest that, acquired hemophilia can potentially cause life-threatening bleeding complications in severe cases and in around 50% of cases, there is an identifiable underlying clinical condition; in the other 50% no cause is known i.e. idiopathic. Treatment strategies that are applied against acquired hemophilia are based on two major objectives.
Technical developments, growing use of filtration technologies in biotechnology and drug discovery and development, clinical laboratories has assisted the laboratory filtration market to achieve impressive growth rate. Laboratory filtration solutions are used in processes drug screening, DNA and protein separation, cell culture, and other separation and filtration processes. Growing biopharmaceutical research activities and urge for rapid drug commercialization are the prime drivers of laboratory filtration market.
The pharmacy automation market is expected to see a significant growth throughout the forecast period 2015 – 2022. The pharmacy automation industry includes integration of intelligent software and industry scale machinery to improve the efficiency of retail as well as hospital pharmacies. The demand for pharmacy automation solutions is growing steadily with rising pressure to reduce medication errors and stringent government regulations across the world.
Nebulizer is device used for medication, which converts the liquid into fine mist under pressurized air pump. It uses oxygen, compressed air or ultrasonic power to break medication solutions and deliver a therapeutic dose of aerosol particles directly to the lungs
The report titled “Audiology Devices Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the overall audiology devices market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on type of products, and different geographies. Audiology devices are known as the electronic equipment that is designed for diagnosis and treatment of hearing impairment in patients.
This report on global medical imaging reagents market studies various technologies, class and applications of medical imaging reagents in the field of healthcare. The rapid development in medical research produces a continuous stream of new knowledge about disease processes, new therapeutic targets and the complex relationship between a person’s genome and his/her related risk for disease.
Rising prevalence of heart disorders, increasing obese population and growing geriatric population are the key factors that have urged the advent of blood pressure monitoring devices market. In the next few years the demand for blood pressure monitoring devices is expected to increase significantly in the emerging economies such as China and India.
Rising pressure to reduce medical waste on medical organization due to environmental concerns are the major factors driving the global reprocessed medical devices market. In the next few years the demand for reprocessed medical devices is expected to increase significantly in the emerging economies such as China and India due to rising population base and emphasis on cost reduction.
The report titled “Global Endoscopic Vessel Harvesting Systems Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the Global Endoscopic Vessel Harvesting Systems along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on type of application, and different geographies.
Robotic surgery allows surgeons to perform several complex surgical procedures with higher precision, flexibility and control than manual surgery. Robotic surgeryis often minimally invasive and is sometimes in certain conventional open surgeries. Robotic surgery initiated with the FDA approval of da Vinci Surgical System in 2000.
The purpose of hemodynamic monitoring is maintenance of sufficient tissue perfusion. Conventional hemodynamic monitoring is based on invasive methods to measure pulmonary arterial, systemic, venous pressure and cardiac output. In cases of hypotension, which is the most common cause of hemodynamic instability, modern hemodynamic methods are used. Is assumed that the central venous pressure and central venous pressure (CVP) and pulmonary artery occlusion pressure (PAOP) are sufficient estimates of measuring systemic and pulmonary circulation respectively.
The International Diabetes Foundation (IDF) reports that as of 2013, 382 Mn individuals i.e. 8.3% of the global adult population is living with diabetes, and is expected that over the next 25 years, this population would rise beyond 592 Mn. The IDF also reports that with 175 Mn diabetes cases being currently undiagnosed, a large set of diabetic population is unknowingly heading towards disease related complications, thus adding to the potential yet avoidable disease burden.
In vitro fertilization is a form of assisted reproductive technology where the egg is artificially fertilized and later implanted in the womb. This method is widely prevalent in infertile parents, LGBT community and single mothers. The global in vitro fertilization devices and consumables market will undergo rapid growth during the forecast period due to rising infertility rates, delayed pregnancies and surging evolution of assisted reproductive technologies. Innovations in IVF technologies such as introduction of capsule IVF will further add to demand for IVF across the globe.
Medical robotics have been in use in the medical sector for various applications since early 1980s. Nevertheless, due to reliability and safety concerns, the adoption of medical robotics have been relatively slow. With the expanding capabilities and the ongoing trend of automation across different application sector, medical robotics have found widespread application in the healthcare sector, over the period of time. Today, medical robots have been developed for performing various surgical procedures including neurological, orthopedics, minimally invasive surgeries and others.
Fertility patterns worldwide have changed dramatically and a rise in the infertility rates have been observed since the last two decades. Even though newer assisted techniques such as in-vitro fertilization have been well developed, still fertility drugs are the first choice for treatment of infertility issues. Even in the fertility drugs category, hormonal products are preferred the most. Since the human body is governed by hormones, infertility is considered to be caused due to the abnormal play of the hormones.
This report on clinical laboratory services market studies various test types and service providers. Clinical laboratory comprises of anatomic pathology, clinical microbiology, and hematology. According to market experts, The market for medical microbiology & cytology tests is expected to grow at the fastest CAGR during the forecast period owing to increasing incidence rates of infectious diseases globally, leading to an increase in procedure volumes. Hospital-based laboratories are the largest segment of clinical laboratory services market.
Actinic keratosis (AK) or solar keratosis are keratotic papules, macules and plaques arising from intraepidermal proliferation of keratinocytes due to exposure to ultraviolet radiation. Although AKs to squamous cell carcinoma progression is rare, AKs still pose a concern because majority of cutaneous squamous cell carcinoma result from pre-existing AKs. Due to this, clinicians recommend routine treatment of AKs. This report studies the current and future prospects of the global actinic keratosis treatment market.
With ring trend towards self-administration of drugs, injectable drug delivery solutions such as autoinjectors and pen injectors demonstrate a noteworthy growth potential in the near future. Driven by industry demands, the biopharmaceutical companies worldwide have since introduced a big range of drug injection solutions.
Ablation devices are at present used in varied healthcare areas such as orthopedic, dermatology, cardiology, gynecology, neurology and several others. Global growth in preference for minimally invasive procedures is helping drive the demand for ablation devices. Major factors supporting the rise in ablation treatments include groping preference from senescent patients andhigh prevalence of chronic diseases.
This report analyzes the global X-ray security screening market in terms of application, end-use, and geography. Based on application, the global X-ray security screening market is segregated into product screening, human screening, and vehicle screening. Similarly, on the basis of end-use, the global market for X-ray security screening is classified into government, transportation, and commercial.
Growing demand for minimally invasive procedures, particularly in pediatric and geriatric patient groups is anticipated to support the growth of guidewires market. Growing count of geriatric population, that possess a higher risk of chronic diseases are increasingly preferring minimally invasive surgeries for disease treatment; due to major advantages such as quick procedural time, lesser risk of infection and quicker recuperation coupled with less duration of hospital stay.
Paper diagnostics are devices made of paper and cellulosic materials to recognize and quantify biomolecules and chemicals affecting health. There has been a rapid increase in interest for paper-based diagnostic methods in recent years. This is because paper is cheap, widely available, easily engineered, biodegradable, combustible, biocompatible, sterilizable, hydrophilic, and easy to functionalize and process into diagnostic devices.
Organ transplant placement of healthy organ from donor site to replace a damaged or absent organ.Human leukocyte antigens a histocompatibility complex are found on cell surface that regulates adopting of replaced organ. Human leukocyte diagnostic testing (HLA testing/test) is performed foe determination of tissue compatibility between recipient and donor. HLA matching augments graft survival possibility and reduces transplant rejection and failure.
Rising incidence of hematological disorders has led to growth in demand for platelets and plasma products for efficient treatment and improvement in survival rates. The apheresis equipment market is expected to be driven by growth in incidence of blood disorders and technological innovations in nature and efficiency of apheresis equipment. Researchers, healthcare practitioners and device manufacturers worldwide are hence introducing solutions that demand minimum human intervention and allow agility to apheresis process.
Diabetic footwear also referred as therapeutic shoes are special shoes designed for the diabetic patients to reduce the risk of skin breakdown in diabetics with co-existing foot disease. Diabetes is prolonged medical condition and patients suffering for diabetes are more susceptible to develop wounds, ulcers or lack of sensation in the feet. Diabetic footwear has evolved as a medical revolution as it aids in preventing the feet from developing any injuries or wounds with the help of its unique and therapeutic properties. The proper use of diabetic footwear for various diabetic complications such as improper circulation of lower limbs and peripheral neuropathy has resulted in the curing various foot ulcers and other foot and toe related problems.
The report titled “Enteral Feeding Devices Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the overall enteral feeding devices market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on type of products, and different geographies. Enteral access allows the short- and long-term delivery of nutrients and medications into the GI tract of patients who can not maintain their needs with oral intake.
Medical imaging professionals continue to experience the beneficial applications of healthcare IT. One of such technologies is picture archiving and communications system (PACS) which allows any healthcare organizations to capture, store, view and share all types of images internally and externally. When deploying a PACS, the organization needs to consider the environment in which it will be used (inpatient, ambulatory, emergency, specialties) and the other electronic systems with which it will integrate.
The report titled “Carcinoembryonic Antigen (CEA) Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the overall carcinoembryonic antigen market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on type of application, and different geographies.
This report titled “Hearing Aids Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the trends in hearing aids market along with the market size and forecast for the duration 2013 to 2023. The said research study incorporates in-depth analysis of multiple market segments based on device types,type of hearing loss and different geographies.
Amyloidosis is a rare disease causes due to building up of amyloid an abnormal protein which usually gets produced in bone marrow and deposits in any tissue or organ. According to The Amyloidosis Foundtion, in the U.S. amyloidosis is the most common type, with approximately 4,500 new cases diagnosed every year. It usually affects people from age group 50-80; however, there are a few cases of people being diagnosed as early as their late 20s and overall incidence statistics suggest that two-thirds of the patients are male.
According to the Cleveland Clinic, Aspergillosis is an infection or allergic reaction caused by various kinds of molds found on plants, soil, building materials or rotting vegetables. Aspergillosis treatment market can be segmented on the basis of several types such as allergic bronchopulmonary aspergillosis (ABPA), allergic Aspergillus sinusitis, aspergilloma, chronic pulmonary aspergillosis, invasive aspergillosis and cutaneous (skin) aspergillosis. ABPA is observed as one of the most common aspergillosis in which inflammation in the lungs and allergy symptoms such as coughing and wheezing are observed.
The purpose of this research study titled ‘Hyperbaric Oxygen Treatment (HBOT) Devices Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2024’ is to provide investors, developers, company executives and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global hyperbaric oxygen treatment devices market. This report presents and analyzes the major trends prevalent in the global HBOT devices market and the market size and forecast.
Orthopedic oncology accounts for a very small percentage in the field of orthopedics due to fact that the incidences of bone and soft tissue tumors are rare as compared to the benign tumors of musculoskeletal system which includes trauma, spine, hand and upper extremity, total joints and even pediatric orthopedics.
Coronary artery disease is among the chief causes of death worldwide. Hereditary factors, sedentary lifestyle, are some of the major reasons of death due to coronary artery diseases. Mortality due to coronary artery diseases has escalated to such a level that it is grabbing attention of clinicians and researchers worldwide to find a viable treatment option. This has resulted in several surgeries and preventive treatments being performed.
Endoscope reprocessing involves the cleaning, disinfection and sterilization of the medical instruments, and encompasses the steps of cleaning, rinsing, disinfection, secondary rinsing, drying and storage. It is the fastest growing segment in the disinfection technologies market due to rise in tide of cleaning standard and mounting pressure for sterilized and disinfected medical device in hospitals and clinics.
Regenerative medicine, is upcoming interdisciplinary field which makes use of both engineering and life science knowledge, to regenerate, restore diseased and injured tissues and whole organ. This would aid to overcome the hurdles caused during the transplantation of intact organ and tissues to treat organ and tissue failure and loss caused due to limited donor supply and often severe immune complication.
Implantable infusion pumps are used for delivery of intrathecal drugs based on the narcotic receptors in the spinal cord to attain selective analgesia. Infusion pumps offer long term opioid delivery in management of malignant and chronic non-malignant pain arising from conditions such as failed back surgery, visceral pain syndromes. Chronic arachnoiditis, phantom limb pain, peripheral neuropathies, spinal cord injuries, post herpetic neuralgia and others.
Negative Pressure Wound Therapy (NPWT) is used to treat acute and chronic wounds. A vacuum source creates continuous or intermittent negative pressure inside the wound to remove fluid, exudates, and infectious materials to prepare the wound for healing and closure. NPWT systems consist of a vacuum pump, drainage tubing, a foam or gauze wound dressing, and an adhesive film dressing that covers and seals the wound. The therapy involves the controlled application of sub-atmospheric pressure to the local wound environment, using a sealed wound dressing connected to a vacuum pump.
Blood and fluid warming systems are widely used in clinical interventions for prevention of non-intended hypothermia. Such systems heats fluids before and curing administration to the patient. Hypothermia can be easily prevented with blood and fluid warming systems, thus resulting in efficient patient management, reduced hospital stay and lowering the risk of surgical site infections.
The report titled “Weight Management Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the overall weight management market along with the market size and estimates for the duration 2014 to 2024. The said research study covers in-depth analysis of multiple market segments based on type of weight loss products, fitness equipment, surgical services and different geographies. Weight management market is a dynamic market; the companies are expected to keep in the mind that people nowadays are watching weight rather than dieting. Hence, the products should be positioned in the market as fitness contributors.
Cardiovascular diseases is one of the major cause of mortality globally, it includes coronary heart diseases, stroke, heart failure, peripheral vascular disease, congenital heart disease etc.. The people suffering from cardiovascular disease or with high risk of cardiovascular risk require early monitoring and diagnosis for the management and treatment of diseases. With advancement in technology non-invasive cardiac monitoring and diagnostic play important role in management and treatment of cardiovascular diseases.
Join Credence analysts to explore the latest IT Trendsview upcoming webinars
Global Medical Devices Market Analysis
The worldwide medical devices market is expanding fast. Its value was predicted to touch the revenue mark of 227 billion dollars by the end of year 2015 from 163 billion dollars in year 2010. It marks the yearly growth of about 8.1% as per the current market research report.
As with many of the market segments, the medical devices market segment was also affected due to the global recession although it had not impacted the overall growth of the market segment. Minor firms, unable to pick up the slack of product growth prices formerly covered by investors and venture capitalists and made more vigilant by the fiscal slump were obliged to annihilate their activity. However ,few other small companies choose to merge with bigger firms, thereby continuing technical advancements without bearing full cost burden. Regional and global mergers & acquisitions permit cross border sharing of knowledge and resources promoting constant innovation in medical technology in spite of competitive economic or fiscal conditions.
Greater challenges posed to medical devices section includes taxes on items in the foreign markets plus inconsistent & drastically changing foreign rules and changing standards of execution.
Geographical Market Share
The medical devices market covers a broad range of products utilized in treating patients that includes diagnostic equipments, cardiovascular instruments, dental devices, medical devices , medical supplies, respiratory equipments, ophthalmic equipments, surgical devices and orthopedic equipments.
Geographically speaking, USA , lying in sub continent of North America, is the market leader holding 40% market share of the global medical devices market. It creates half of the global market demand for medical devices industry. Countries like India, China, Korea and Taiwan lying in APAC region and Brazil lying in South America are the future competitors of USA.
USA was forecasted to touch the revenue margin of 140 billion dollars in year 2013 as per the market reports.
While demand for medical devices in developed economies like Canada, European Union, Japan and US remain stable with annual growth rates ranging between three to five percent, developing nations are proved to be profitable for US exports, with heavy demand from markets sectors of China and India. Significant population and healthy fiscal growth of China makes it an growingly promising niche market. India is also considerably seen as a potential export market for the US medical devices section owing to the increment in its rich population along with a strong blending of its private healthcare systems.
Today, medical devices market of Holland and Germany in Europe offers tough competition to United States.
Medical devices market study displays that the market sector is expected to grow further in future with USA retaining its top spot. The US will continue to lead the medical devices industry owing to use of cutting edge technology and heavy demand from emerging markets Like China and India. The medical devices market is growing by and large on account of rise in aging population across the globe and growing risk factors. Particularly, diet related chronic ailments like cardiovascular ailments and diabetes continue to generate demand for medical devices market sector.
Equally, the requirement for medical devices continue to increase, with average life expectancy rising nearly about more than 20 years since last fifty years. Between 2000 and 2050, developed regions will witness an increase of about 34% in population of senior citizens (those persons who have crossed the age of 60 years). As per the UN report on ageing population , by the end of 2050, life expectancy will reach 80 years of age for almost sixty percent of the universal female population. This geriatric population along with its life pattern related ailments is the assurance of growing market demand for the medical devices sector.