Measurement Solutions for the Medical Device Industry: Overview
Revolution in the medical device industry has fully-fledged along with the demand for premium healthcare. The medical device sector covers broad range of applications with a wide variety of advanced products including dental equipment, diagnostic devices, cardiovascular devices, surgical equipment, medical equipment, ophthalmic devices, orthopedic and respiratory devices. Measurement solutions includes sensor applications & solutions, testing equipment and services, software testing solutions, instruments, equipment automation solutions etc. for the medical device industry. Predominantly prominent technological advancement in recent years includes new developments in neurology, cardiology and Health IT (e.g. Information sharing, wireless devices, systems for monitoring the cardiac activity etc.) E.g. Experts have also recycled the nanosensors technology for the rapid detection of cancers. Partnerships and acquisitions have led to new technology in biomarkers, robotic assistance, implantable electronic devices, liquid bandages/wound dressings and ingestible diagnostic devices. Measurement solutions also continues to benefit from a new procedures of nanotechnology and micro-electro-mechanical systems (MEMS).
Drivers and Restraints
Global demand for overall measurement solutions for medical devices is mainly driven by rise in healthcare expenditures and greater attention to health care by emerging markets, rise in development of hospitals and specialty clinics, and establishment of public health insurance. In addition, overall demand is growing worldwide due to aging population in major markets and increasing global income levels in developing countries. The USFDA is functioning towards increasing the number of electronic applications for approval and has published suggested rules that would require electronic reporting of post-market medical device adverse events. In recent years medical device industry is driven by innovation and the ongoing expedition for better ways of diagnosing medical hitches, future growth scenarios for this sector remain positive. Further, global management of standards and regulatory requirements may help simplify overall market growth. Measurement solutions for the medical devices are now creating an intensive market to keep patients healthier and minimize costs by neglecting unnecessary hospitalizations. This adoption is really a value based shift payment for medical device providers.
Global Ventilators Market: Segmentation
The Global Ventilators Market market can be segmented as follows:
Global ventilator accessories market by Device Type
- Drug Delivery Devices
- Surgical Tools
- Robotic Surgery
- Therapeutic Devices
- Others (Sensors, Digital Software etc.)
Global Ventilators Market, by End User
- Ambulatory Surgery Centres
- Emergency Medical Services
- Long term care centres
- Home Care Settings
Geographically, the measurement solutions for the medical device industry is segmented into five regions, namely North America, Latin America, Europe, Asia Pacific & Middle East and Africa. North America medical device sector is expected to persist highly competitive globally. Measurement solutions for the medical device industry is an accepted, necessary component of the U.S. healthcare system. Rise in number of multinational medical device manufacturing firms are looking for regulatory approval for their products in more countries worldwide. Medical device solution providers are now more focused in expanding the product portfolio in other developing regions to drive future growth. For e.g., more demand for medical devices in Asia pacific is increasing at a higher rate compared to developed countries. In Asia pacific regions electronics and medical device industries are starting to make acquisitions, now improving the efficiency of the healthcare delivery system as well as workforce in other sectors too.
Measurement solutions for the medical devices needs a complete understanding of equipment operation, device automation, application and testing. Manufacturers are launching innovative products such as sensors, testing equipment, scanners, measurement systems or any other measurement solutions with a high degree of expertise. Measurement solution for medical devices demands more safety and quality measurement protocols. Medical device development faces specific challenges that also affect most companies these days mainly due to increased competition in sales and service in the international market, also facing issues in the durability and development of advanced automated solutions.
Measurement Solutions for the Medical Device Industry: Key Players
The key players in the global Ebola Treatment market are
- Medtronic, Inc.
- Johnson & Johnson.
- General Electric Co.
- Siemens AG.
- Baxter International Inc.
- Fresenius Medical Care AG & Co. KGAA.
- Koninklijke Philips Electronics NV.
- Covidien plc.
- Toshiba Corp.
- Hospira Inc.
- CareFusion Corp.
- Bayer AG
- DENTSPLY International Inc.
- Hoya Corp.
- Paul Hartmann AG
- 34 Hitachi Medical Corp.
Globally, the manufacturers of medical devises have implemented the strategies such as merger and acquisition, and technology advancements such as use of latest technology by using sensors and mobile applications (apps). The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis include
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprints
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.