MEDICAL DEVICES: A NEW ERA IN HEALTHCARE INDUSTRY

  Trends To Watch In The Medical Device Industry To respond to the unprecedented challenges presented by the pandemic, medical device providers extensively implemented disruptive innovations like artificial intelligence (AI), machine learning, 3D printing solutions, and others. Hence, healthcare companies and public hospitals altered the way they manage data and treat patients. To help you keep pace with the emerging trends in the medical device industry, we compiled a list of the technology trends expected to grow in this specific market. 3D Printed Devices Manufacturers of medical devices moved forward during the COVID-19 pandemic despite facing a number of hurdles. International supply chains were disrupted because of local lockdowns and reduced numbers of employees. For this reason, additive manufacturing, or 3D printing, started to grow at a rapid clip. By 2026, the global 3D printed medical devices market is expected to  reach  $4.5 billion at an annual growth rate ...

Who are the top 10 medical device companies in the world? The medical devices market continued to generate stellar growth in 2020, with the complex needs of patients, coupled with the Covid-19 pandemic, encouraging companies to develop and create new innovative solutions. In 2020, the global medical devices market reached a value of nearly $456.9bn, and is likely to reach an impressive US$612.7bn by 2025. Growth is being powered by a combination of factors, including a rise in the number of healthcare facilities, increasing healthcare expenditure, technological advancements, and an aging population. Below, we have ranked the leading medical device companies by their 2020 revenue, looking at their medical devices segment results only. The list shows the top 10 biggest medical device companies in the world in 2021: Source: proclinical   American multinational medical technology specialists, Stryker, takes tenth spot in 2020. With 43,000 employees worldwide, Stryker focuse...

DRIVING FACTORS FOR THE MEDICAL DEVICE INDUSTRY Rising Prevalence of Chronic Diseases to Boost Demand for Medical Devices There is a growing prevalence of chronic disorders, including diabetes, cancer, and other infectious diseases, owing to the adoption of sedentary lifestyles and other factors. Also, healthcare agencies of various countries are focusing on increasing the diagnosis and treatment rates through the growing number of awareness programs. With the rising prevalence and awareness of such conditions among the population, the patient population requiring diagnostic procedures and tests is also increasing. For instance, according to the International Diabetes Federation (IDF), an estimated 537 million people in 2021 suffered from diabetes, which is projected to rise to 643 million by 2030 and 783 million by 2045. Also, a rapid rise in the geriatric population is increasing the demand for ophthalmic and orthopedic procedures due to increasing incidence of impaired vision an...

Indian Market Current Scenario for Medical Devices Segmentation of market in India With overall revenues constituted about USD 60 billion (INR 3.85 lakh crores) in 2015, diagnostic imaging is the medical device market's largest category, making about 26% of the total. The second-largest segment, IV Diagnostics, has an estimated 24% market share and generates about USD 54.5 billion (INR 3.54 lakh crores). The smallest share is of dental items, which include dental implants, chairs, and equipment, worth USD 13.68 billion (INR 88,920 crore). Electrical and electronic equipment makes up the majority of other and IV diagnostics The others category (patient monitors, ECG machine, Defib, etc) is estimated at USD 0.94 Bn (INR 5,922 Crores) in 2015 .  Similar to that, the IV diagnostics market reached USD 0.39 billion (INR 2,550 crores) in 2015. Growth Factors Driving the Medical Device Demand in India The need for medical devices in India is being driven by a number of factors, some of wh...

MEDICAL DEVICES: A NEW ERA IN PHARMA     INTRODUCTION According the FDA, the medical devices can be defined as an instrument, apparatus, machine, contrivance, implant, in vitro reagent, or other similar or related article, including a component part or accessory which is intended for use in the diagnosis of disease or other conditions, or in the cure, mitigation, treatment, or prevention of disease in man or other animals or intended to affect the structure or any function of the body of man or other animals. The WHO states without medical devices, common medical procedures – from bandaging a sprained ankle, to diagnosing HIV/AIDS, implanting an artificial hip or any surgical intervention – would not be possible. Medical devices are used in many diverse settings, for example, by laypersons at home, by paramedical staff and clinicians in remote clinics, by opticians and dentists and by health-care professionals in advanced medical facilities, for prevention and screening and ...