According to the report “Global Medical Device Technology market,” published by Market Data Forecast, the global market is projected to reach USD 634.5 billion by 2021, growing at a CAGR of 5.6% during the forecast period 2016-2021
Medical device can be defined as an instrument, implant or apparatus used to diagnose or treat medical condition. Technologies which are utilized in medical device are called Medical Device Technologies.
The improvement in technology has changed ways in which medical instruments are utilized to treat patients. The new Technologies have reduced the recovery time and cost of treatment for patient. Medical devices range from small needle to large diagnostic machines. Some of these Technologies are Mela Find optical instrument for treatment of melanoma skin cancer, electronic aspirin used for relief from migraines, needle free diabetes care instrument to find the glucose level, robotic health checkup instrument and Sapientranscatheter aortic valve instrument used in open heart surgery.
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global Medical Device Technology market: Drivers & Restraints
Medical Device Technology is a broad field where innovation is the major driving factor. MRI Systems, Ultrasound systems, x ray systems and mammography instruments are on demand globally for the diagnosis of disease and disorder. With increasing demand for above mentioned instruments market device technology market will also increase. At present, many hospitals and clinics are adopting workflow automation processes to ensure patient safety. Work flow automation provides fast and consistent data analysis. The increased need for workflow automation and better communication processes are also major driving factors in medical device industry. With the growing occurrence of technology piracy, it is hard to avert the misuse of non-licensed technology in biomedical device integration. This is a major restraint for medical device technology industry. Technical complexity and high cost of some medical technology might restrict global market demand. In addition, regulatory compliance for approval of medical device technology is a major factor that might hinder global market for medical device technology.
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Global Medical Device Technology market: Segmentation
- Electro medical equipment
- Irradiation Apparatus
- Dental Equipment and Supplies
- Y-o-Y Growth Analysis, By Type
- Market Attractiveness Analysis, By Type
- Market Share Analysis, By Type
By End User
- Clinics & Hospitals
- Medical Device Industries
- Research and Pharmaceutical Entities
- Y-o-Y Growth Analysis, By End User
- Market Attractiveness Analysis, By End User
- Market Share Analysis, By End User
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Global Medical Device Technology market: Overview
Of all these segments, Diagnostic imaging system has highest market globally.
Analyses of global market trends with data from 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021. Discussion of definitions, evolution and types of devices, regulations and legislations, as well as key industry aspects such as market drivers and industry strategies. Information on the refurbished and replacement market, mergers and acquisitions, market shares for key players, and trends broken down by geography, new technology, and new materials used.
An in-depth breakdown of devices by technology type including: imaging devices, in-vitro diagnostic devices, cardiovascular devices, orthopedic and spine, urology and renal devices, endoscopic devices, and drug delivery systems.
Global Medical Device Technology market: Region-wise Outlook
Based on Geography, Global medical device technology market is further segmented into North America, Asia pacific, Europe, Latin America and middle East and Africa. North America was observed to be the largest global medical device technology market followed by Europe and Asia Pacific. However, Asia Pacific is expected to grow significantly with highest CAGR during the forecast period.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Medical Device Technology market outlook in worldwide?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Medical Device Technology space in global?
- What are the key, high growth markets that Medical Device Technology manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Medical Device Technology currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Medical Device Technology?
- What are the challenges and barriers that have hindered widespread adoption of Medical Device Technology?
Global Medical Device Technology market: Key Players
Major key players in Global Medical device technologies are Abbott Laboratories, Inc., Becton, Dickinson and Company, GE Healthcare, Novartis Diagnostics, bioMerieux, Inc., Biomerica, Inc., Johnson and Johnson Diagnostics, Inc., Olympus Corporation, Qiagen N.V., Siemens AG, Thermo Fischer Scientific, Inc., and Zenith Healthcare Ltd.
Reasons to buy Transcatheter Aortic Valve Replacement (TAVR) Market Report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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