Medical Technology Market 2021-2030 Next Big Thing | Global Players – Intuitive Surgical, Johnson & Johnson Services, Koninklijke Philips N.V.

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New Study Reports ” Medical Technology Market 2021, Global Key Players Analysis, Share, Trends, Business Updates,  Future Opportunities Forecasts to 2030″ has been Added. Global medical technology market was valued at US$ 565.52 billion in 2020 and is expected to reach US$ 2324.34 billion by 2030, growing at an estimated CAGR of 17.1% over the forecast period. At present, the market is sharping its presence and some of the key players in the study are Agfa-Gevaert Group, Ambu A/S, BD, bioMérieux SA, Boston Scientific Corporation, Coloplast Corp, Dentsply Sirona, Edwards Lifesciences Corporation, Essilor, General Electric Company, IBM Watson Health, Illumina, Inc., Institut Straumann AG, Intuitive Surgical, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Medtronic, Microsoft, Myriad Genetics, Inc., PathAI, inc., QIAGEN, Sanofi, Sartorius AG, Smith & Nephew, Sonova, Stryker, Thermo Fisher Scientific, Touch Surgery, Verily Life Sciences LLC, Zimmer Biomet among others. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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The credible Medical Technology Market research report comprises of details of all the parameters mentioned above hence it can be utilized well for the business. Moreover, this Medical Technology market report explains company profiling of key players in the market, suspiciously analyzing their core competencies, & illustrating a competitive landscape for the industry. The Medical Technology Market report also supports to measure & optimize each step in the lifecycle of industrial process that covers acquisition, engagement, retention & monetization. Businesses can employ Medical Technology Market report to get valuable market insights in a money-spinning way.

An international document is always useful to organization or business in many subjects of trade for taking better decisions, solving the toughest business questions, & minimizing the risk of failure. The studies of this Medical Technology market report carefully analyzes the market status, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, & distributors. The most advanced tools & techniques including SWOT analysis & Porter’s Five Forces Analysis have been applied to structure Medical Technology Market business report. Moreover, diverse segments of the market are taken into consideration in this Medical Technology market research report which gives better market insights & extend their reach to the success.

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Furthermore, the years considered for the study are as follows:
Historical year – 2015-2020
Base year – 2020
Forecast period** – 2021 to 2030 [** unless otherwise stated]

**Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product services of key players.

Industry Trends

Increasing demand for product centric innovation, research and development in the medical field is fueling the demand for medical devices & services which in turn aids the overall growth of medical technology market.

Medical technology also called medtech aims at improving human life through a gamut of devices, treatments and services. Approval of medical technology products that can deal with the day to day challenges is anticipated to drive the total medical technology market. Closed-loop systems that automatically delivers insulin based on continuous monitoring of blood sugar and catheters that can be used as a substitute for defective heart valves are some instances that have improved the live of both patients and clinicians in the recent past and is expected to continue the same trend over the forecast years. The ‘CT slice war’, where Philips and other manufacturers were engaged in the pursuit to increase the quantity of cross sectionals images in CT scans, is a case in point. The number jumped from 16 to 64. The head-on competition aimed at improving the image resolution for radiologists. Low cost Chinese products, invading the international scene is one of the factors critically impacting the industry growth.

Increasing preference for minimally invasive treatment, enhanced diagnostics and poignant drug development is triggering the need for medical technology. Such factors are expected to propel the overall industry growth in future years. Technologies such as augmented reality coupled with additive manufacturing has an important role overall healthcare application. Additive manufacturing helps in the development of anatomical models that are used by surgeons to practice operation methods, prior to their real application with patients.

The hardware segment constituted the maximum share in 2018 and is expected to continue the same trend over the forecast period. Medical hardware that comprises of tools and equipment for surgery, treatments, diagnostics is going through a massive change with AI powered technology. There is a radical shift in the healthcare field, technology-based solutions for diagnostics and prevention care that are primarily instrumental in innovations such as printed circuit boards (PCBs). A company named Medtronics announced their Guardian Connect SGM system FDA approval in March 2018.

Guardian Connect CGM System is a smart technology that uninterruptedly measures patient glucose levels and envisages changes, integrating the company’s latest diabetic’s prediction algorithm with the Guardian (TM) Sensor 3 to monitor glucose levels. Sensor based wearable technology, electroceuticals and other software driven electronic manufacturing has integrated itself completely in the global medical technology ecosystem. Clinical trial software companies are increasingly becoming part of the medical technology domain. Some of the companies for the same include TransMed Systems in Oncology and monARC Bionetworks in interstitial lung disease. Services segments is expected to witness substantial growth owing to components such as consulting and healthcare IT services amongst others. Tech-based primary care startups, like One Medical and 98point6 along with retails chains such as Walmart and Target offer on-demand services to healthcare providers through mobile applications that proves to be the consumer-centric services.

Medical Technology continues to enter a more safe and non- intrusive arena. In the field of plastic surgery, noninvasive surgeries are becoming the norm. Radio frequency technology such as FaceTite, that corrects neck & jawline sagging and heft is a procedure anticipated to skyrocket in 2019. Similarly, the recently introduced EmSculpt in the United States, is the first and only noninvasive muscle and body fat-shaping procedure.

Carnegie Mellon University researchers introduced a new non-invasive diagnostic imaging technique that uses ultrasound to take optical images through a turbid medium such as biological tissue to image body organs. In-vitro Diagnostics are classified under Class A, B C and D based on the level of risk, with Class A being the lowest and Class D being the highest. To overcome the risk factors in in-vitro diagnostics, research in the areas is focusing more on digital solutions.

Axbio Inc, announced the release of microfluidics Bio-CMOS device for molecular in-vitro diagnostic (IVD) purpose, based on TowerJazz’s 65nm RFCMOS platform. This device, integrates with automated features and has a disposable cartridge. Software technology, much like forming solutions for other medical technologies, has also merged with wound management. Integra LifeSciences is collaborating with Tissue Analytics for advanced software solutions that engage artificial intelligence, to empirically extract high quality data from clinical images. Research related to new cardio devices and diagnostics; tissue engineering has taken a leap forward in heart disease treatments that will eventually aid the overall medical technology market. Increased usage of direct oral anticoagulants (DOACs) in atrial fibrillation (AFib) and other conditions; emerging ideas conditioning the management of mitral valve regurgitation (MR) in heart failure patients; rising usage of transcatheter aortic valve replacement (TAVR); wearable and implantable devices and the data they collect will be a dominating factor for cardiovascular disease reduction in the emerging as well as developing economies.

There has also been a steady rise of international collaboration that will propel the growth of the global medical technology market. Pharma companies joining hands with medtech companies will continue to capitalize on research thus culminating to build more futuristic and trailblazing medical technological output. Takeda Pharmaceuticals partnering with Portal Instruments to deliver their biologics using a needle-free device from Portal Instruments. The device was developed at the Massachusetts Institute of Technology (MIT) and provides a biologic drug using pressurized liquid. Sanofi and Verily Life Sciences, a healthcare research entity owned by Alphabet are working to tackle diabetes. This collaboration will develop inclusive resolutions that group devices, software, medicine, and professional care to provide enhanced management.

The United States remains the largest medical technology market in the world accounting for over 40% of the global medical technology in 2018. The United States holds competitive advantage over other regions due to its rapid advancements and delegated resources channelized towards research & development. It is a host to the most sophisticated medical impetus to innovate and design, heralding its place. Collaborations have led to recent advances including neuro-stimulators, stent technologies, biomarkers, robotic assistance, and implantable electronic devices. OncoNano Medicine, Inc announced in August 2019, with support from Cancer Prevention and Research Institute of Texas (CPRIT) will advance ONM-500, one of OncoNano’s innovative oncology product candidates that leverages its patented pH-sensitive micelle technology to carry antigens while activating innate immunity for the treatment of cancers caused by the human papilloma virus (HPV). In August, 2019, the launch of FIGUR8, a new digital platform designed to measure and track body movements as a biomarker. The technology was created in partnership with researchers at MIT Media Lab and Massachusetts General Hospital Sports Science Lab.

The report provides both, qualitative and quantitative research of the global medical technology market, as well as provides worthy insights into the rational scenario and favored development methods adopted by key contenders. The report also offers extensive research on the key players in global medical technology market and detailed insights on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes its headquarter, competitors, product/service type, application and specification, pricing, and gross margin.

Medical Technology Market: By Component

  • Hardware
  • Software
  • Services

Medical Technology Market: By Application

  • Diagnostic Imaging
  • In-Vitro Diagnostics
  • Orthopedics
  • Wound Management
  • Dental
  • Drug Delivery
  • Cardiology
  • General and plastic Surgery
  • Ophthalmic
  • Others

Medical Technology Market: By Product Categories

  • Active implantable technology
  • Anesthetic respiratory technology
  • Dental Technology
  • Electromechanical medical technology
  • Hospital Hardware
  • In vitro diagnostics technology
  • Non-active implantable technology
  • Ophthalmic and optical technology
  • Reusable instruments
  • Single use technology
  • Technical aids for disabled
  • Hearing aids
  • Diagnostic and therapeutic radiation technology
  • Complementary therapy devices
  • Biological-derived devices
  • Healthcare facility products and adaptations
  • Laboratory equipment
  • Others

Medical Technology Market: By End User

  • Hospital
  • Clinics
  • Laboratory Institutes
  • Research Institutions
  • Healthcare Payers
  • Others

Medical Technology Market: By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Key Highlights of the Medical Technology Market Report :

  1. Medical Technology Market Study Coverage: It includes key market sections, key makers secured, the number of items supplied with inside the years considered, worldwide Medical Technology market and examine aim. Moreover, it contacts the department study gave inside the report primarily based totally on the form of items and applications.
  2. Medical Technology Market Executive outline: This location stresses the important thing investigations, market development rate, severe scene, market drivers, patterns, and problems but the obviously visible pointers.
  3. Medical Technology Market Production through Region: The report conveys statistics identified with import and fare, earnings, creation, and key players of each unmarried community market contemplated are canvassed proper now.
  4. Medical Technology Market Pro reports of Manufacturers: Analysis of each market participant organization pro report is precise on this section. This element likewise gives SWOT investigation, worth, limit, and different essential elements of the person participant.

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