Medical Device Technologies Market Segmented by Type, End User, and Geography-Growth, Trends, and Forecast (2018-2023)
This report provides an in-depth insight of Medical Device Technologies Industry covering all important parameters including development trends, challenges, opportunities, key manufacturers and competitive analysis.
(EMAILWIRE.COM, July 14, 2018 ) Global Medical Device Technologies Market 2018-2023:
The global medical device technologies market is expected to register a CAGR of 7% during the forecast period of 20182023. Medical device manufacturing is a long process requiring robust SOPs and strict guidelines to be followed. Nowadays, the design and production have become easier with the help of new modeling platforms. The new devices are dedicated to a consumer-driven model that includes wearable devices, wireless internet linked systems, etc. Technologies, such as RFID and motion sensing are being used in monitoring devices. The medical device companies are searching for ways of implementing technology by understanding the needs of the customers and ensuring that the devices work round the clock.
Rise in Number of Chronic Diseases
Globally, the disease burden is shifting from infectious diseases to chronic conditions, with a corresponding escalation in incidence rates of cancer. Chronic diseases, such as heart disease, cancer, diabetes, stroke, and arthritis are long lasting in their effects. Cancer and cardiovascular diseases are the two most common causes of mortality. Globally, chronic diseases kill more than 38 million people each year. Cardiovascular diseases account for most of the chronic diseases related deaths (17.5 million people annually), followed by cancers (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). These four groups account for 82% of all chronic disorder deaths. The rise in incidences of chronic diseases has increased the demand for medical devices. The other factors such as investment in R&D and the need for preventive healthcare are driving the medical device technologies market.
Get a sample copy of this report@ http://orbisresearch.com/contacts/request-sample/2131459
Key Players:
GE Healthcare,
Siemens Healthineers,
Medtronic,
Johnson & Johnson,
Philips Healthcare,
Baxter International, Inc.,
Cardinal Health, Inc.,
Danaher Corporation,
Stryker Corporation,
3M Company
Strict FDA Regulations
Strict FDA regulations are bound to be present in the field of healthcare. The regulatory framework for medical devices is not standardized in many countries across the globe. FDA's Center for Devices and Radiological Health (CDRH) is responsible for regulating firms who design, manufacture, repackage, relabel, and import medical devices into the United States. In addition, CDRH regulates radiation-emitting electronic products, such as lasers, X-ray systems and ultrasound equipment. The Food and Drug Administration (FDA) strictly regulates the approval of medical devices depending on their class. Class I devices can be self-registered, but class II devices require a premarket notification, i.e., 510(k) submission to FDA to demonstrate that the device to be marketed is as safe and effective as a legally marketed device. Whereas, approval for the class III device, i.e., premarket approval (PMA) is the most stringent type of device marketing application that is required by the FDA.
FDA has strict regulations to approve marketing devices, due of which many manufactures prefer outsourcing their devices to other countries. The rules also pose several barriers to technological innovation, which might hamper the improvement of prevention, diagnosis, and treatment of disease. When the FDA delays the approval process, companies lose profits. New medical device technologies need more time to be tested, as the FDA is responsible for the safety and reduction of risks to a minimum. The strict FDA regulations are hindering the growth of the medical device technologies market. The other factors such as uncertainty in reimbursement and increase in the cost of services are also hindering the growth of the market.
Make an inquiry before buying this report@ http://orbisresearch.com/contacts/enquiry-before-buying/2131459
Key Developments in the Market
December 2017: Siemens Healthineers announced the acquisition of Fast Track Diagnostics.
July 2017: Cardinal Health acquired Medtronic's Patient Recovery Business.
Reasons to Purchase the Report
Follow the current and future global medical device technologies market in the developed and emerging markets.
Examining the various perspectives of the market with the help of Porters Five Forces Analysis.
Identify the segment that is expected to dominate the market.
Identify the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
The global medical device technologies market is expected to register a CAGR of 7% during the forecast period of 20182023. Medical device manufacturing is a long process requiring robust SOPs and strict guidelines to be followed. Nowadays, the design and production have become easier with the help of new modeling platforms. The new devices are dedicated to a consumer-driven model that includes wearable devices, wireless internet linked systems, etc. Technologies, such as RFID and motion sensing are being used in monitoring devices. The medical device companies are searching for ways of implementing technology by understanding the needs of the customers and ensuring that the devices work round the clock.
Rise in Number of Chronic Diseases
Globally, the disease burden is shifting from infectious diseases to chronic conditions, with a corresponding escalation in incidence rates of cancer. Chronic diseases, such as heart disease, cancer, diabetes, stroke, and arthritis are long lasting in their effects. Cancer and cardiovascular diseases are the two most common causes of mortality. Globally, chronic diseases kill more than 38 million people each year. Cardiovascular diseases account for most of the chronic diseases related deaths (17.5 million people annually), followed by cancers (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). These four groups account for 82% of all chronic disorder deaths. The rise in incidences of chronic diseases has increased the demand for medical devices. The other factors such as investment in R&D and the need for preventive healthcare are driving the medical device technologies market.
Get a sample copy of this report@ http://orbisresearch.com/contacts/request-sample/2131459
Key Players:
GE Healthcare,
Siemens Healthineers,
Medtronic,
Johnson & Johnson,
Philips Healthcare,
Baxter International, Inc.,
Cardinal Health, Inc.,
Danaher Corporation,
Stryker Corporation,
3M Company
Strict FDA Regulations
Strict FDA regulations are bound to be present in the field of healthcare. The regulatory framework for medical devices is not standardized in many countries across the globe. FDA's Center for Devices and Radiological Health (CDRH) is responsible for regulating firms who design, manufacture, repackage, relabel, and import medical devices into the United States. In addition, CDRH regulates radiation-emitting electronic products, such as lasers, X-ray systems and ultrasound equipment. The Food and Drug Administration (FDA) strictly regulates the approval of medical devices depending on their class. Class I devices can be self-registered, but class II devices require a premarket notification, i.e., 510(k) submission to FDA to demonstrate that the device to be marketed is as safe and effective as a legally marketed device. Whereas, approval for the class III device, i.e., premarket approval (PMA) is the most stringent type of device marketing application that is required by the FDA.
FDA has strict regulations to approve marketing devices, due of which many manufactures prefer outsourcing their devices to other countries. The rules also pose several barriers to technological innovation, which might hamper the improvement of prevention, diagnosis, and treatment of disease. When the FDA delays the approval process, companies lose profits. New medical device technologies need more time to be tested, as the FDA is responsible for the safety and reduction of risks to a minimum. The strict FDA regulations are hindering the growth of the medical device technologies market. The other factors such as uncertainty in reimbursement and increase in the cost of services are also hindering the growth of the market.
Make an inquiry before buying this report@ http://orbisresearch.com/contacts/enquiry-before-buying/2131459
Key Developments in the Market
December 2017: Siemens Healthineers announced the acquisition of Fast Track Diagnostics.
July 2017: Cardinal Health acquired Medtronic's Patient Recovery Business.
Reasons to Purchase the Report
Follow the current and future global medical device technologies market in the developed and emerging markets.
Examining the various perspectives of the market with the help of Porters Five Forces Analysis.
Identify the segment that is expected to dominate the market.
Identify the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results
Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results