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Global Markets for Emerging Medical Device Technologies

·4-min read

Report Scope Traditional medical devices include devices (e. g. , metallic stents, heart valves, open procedures, general instruments, non-drug coated implantables, large endoscopes, needle-based drug delivery, lab-based diagnostics, etc.

New York, June 07, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Global Markets for Emerging Medical Device Technologies" -
) that have been in use over the last 30 years for the treatment and management of various diseases. Emerging medical device technologies include devices and technologies (e.g., bioresorbable implants, coated implants and balloons, transcatheter heart valves (TAVR, TMVR), electrophysiology, S-ICDs, cardioMEMS, wireless monitoring, wearable devices, needle-free drug delivery, capsule endoscopes, POC tests, companion diagnostics, etc. The format of the study is organized around the following topics -
- Emerging medical device technologies used in general surgery, cardiovascular, diabetes care, gastroenterology, medical imaging/visualization, in vitro diagnostics, neurology, ophthalmology, orthopedic, drug delivery/pain management, surgical/wound care and patient monitoring.
- Target disease demographics and cost burden.
- Regulatory structure.
- Unmet needs, market size and segmentation.
- Market drivers and restraints.
- Detailed market projections through 2024.
- Competition and market shares.
- Pricing and reimbursement.
- Marketed and pipeline (R&D) products along with descriptions, regulatory status and clinical trials.
- Observations and conclusions regarding the future of medical device technologies.
- Profiles of market participants and associations.

Report Includes
- 111 tables
- An overview of the global markets for emerging medical device technologies
- Analyses of global market trends, with data from 2019, 2020, 2021 and projections of compound annual growth rates (CAGRs) through 2025
- Evaluation of the market’s dynamics, specifically growth drivers, inhibitors, and opportunities
- Analyses of segments within the overall market including: aesthetics/dermatology, cardiovascular, dental, diabetes care, gastroenterology, nephrology, urology, gynecology/women’s health, medical imaging/visualization, in-vitro diagnostics, neurology, ophthalmology, orthopedic, drug delivery/pain management, surgical/wound care and patient management/monitoring
- An in depth look at growth driving factors such as the rising prevalence of chronic diseases and related increase in disability-adjusted life years, technological advancements in medical devices, and the growing aging population
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Company profiles of the leading players operating in emerging medical device technologies market including 3M, Abbott Laboratories, Agilent Technology Inc., Boston Scientific, BioMérieux S.A., Cardinal Health, GE Healthcare, Medtronic, Novartis and Siemens Healthcare

The global market for emerging medical device technologies was nearly $REDACTED billion in 2020.The market is expected to reach $REDACTED billion in 2025, growing at a compound annual growth rate (CAGR) of REDACTED during the period of 2020 to 2025.

Companies that are looking to invest funds in the medical device sector ought to strongly consider high-growth segments such as electrophysiology, bioresorbable vascular scaffold (BVS), transcatheter heart valve therapy and drug-coated balloons (DCB) in the cardiovascular market; point-of-care diagnostics (POCs)q, companion diagnostics and advanced cancer molecular diagnostics in the in vitro diagnostics market; and smart pills (capsule endoscopes, etc.) in the GI endoscopy market. Most of these segments are expected to have double-digit growth rates in the next five years. The increasing burden of diseases such as cardiovascular diseases, diabetes and cancer, and the growing adoption of advanced medical technologies are the key growth drivers.

Rising demand for imaging in the diagnosis and monitoring of chronic diseases is a major contributor to the growth of the global market for emerging medical devices.A shift toward minimally invasive procedures and rising adoption of hybrid operating rooms are also providing traction for the market.

Secondary factors such as the increasing number of surgical procedures and high growth in patient care devices are also driving the market.

There is increased demand for advanced medical devices in cardiology and oncology.Heart valve replacement is the most common procedure in cardiology.

Transcatheter aortic valve replacement is a minimally invasive heart valve replacement procedure.Positioning the new heart valve is a concern for surgeons.

Due to the importance of positioning, surgeons prefer 3-D angiography imaging devices to view the anatomy during placement of heart valves. As the number of heart surgeries increases worldwide, use of advanced medical devices is expected to increase over the forecast period.

According to the World Health Organization (WHO), cardiovascular diseases, cancers, respiratory diseases and diabetes account for more than 80% of all premature noncommunicable disease (NCD) deaths. NCDs claim 40 million victims each year and account for approximately 70% of global deaths. 3-D imaging devices are increasingly used in oncology and radiology. The figure below depicts projections of the top three chronic diseases over the period of 2005 to 2030.
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