Global Medical Device Technology market by type (Electro Medical Equipment, Irradiation Apparatus, Dental Equipment and Supplies, cardiology devices, in vitro diagnostics (IVD) devices, kidney/dialysis devices, diagnostic imaging devices, ophthalmology devices, orthopedic devices, endoscopy devices, diabetes care devices, anesthesia & respiratory care devices, and wound management devices), by End User(Clinics and Hospitals, Medical Device Industries and Research and pharmaceutical industries), and by region –Industry Analysis, Size, Share, Growth, Trends and forecasts(2016-2021)
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Global Medical Devices technology market was worth USD 483.65 billion in 2016 and is expected to reach USD 634.5 billion by 2021 at a CAGR of 5.6%.
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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.
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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.
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.
The Global market device technology can be segmented in to type of devices such as Electro medical equipment which includes pacemakers, MRI systems, patient monitoring system, ultrasonic scanning system and diagnostic imaging system. Irradiation apparatus including x ray devices, tomography devices and surgical and medical apparatus.
Dental apparatus includes equipment used by dentists, dental hygienists and laboratories. in vitro diagnostics (IVD) devices, kidney/dialysis devices, diagnostic imaging devices, ophthalmology devices, orthopedic devices, endoscopy devices, diabetes care devices, anesthesia & respiratory care devices, and wound management devices.
Some of the other widely used technologies are biomarkers, bioimplants and molecular diagnostics. Of all these segments, Diagnostic imaging system has highest market globally.
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.
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.
- 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
- 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
Scope of the Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and 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 the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, 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
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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