Use of medical devices for the
home based diagnosis and treatment of medical conditions is increasing.
Technological developments in devices such as glucose monitors, insulin
delivery devices, nebulizers and oxygen concentrators have enabled diagnosis
and monitoring of many diseases at home. Remote control technology is also
allowing healthcare professionals to support home based treatments which is
leading to preference for home and self-care treatment.
THE
BUSINESS RESEARCH COMPANY EXPECTS THE MEDICAL EQUIPMENT GLOBAL MARKET TO GROW TO $448 BILLION BY 2021
Asia Pacific was the largest
region in the medical equipment market in 2017, accounting for $123 billion or
one-third of the market share.
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According to The Business
Research Company’s Consultant, Nitin Gianchandani, device performance and
patient data is available to healthcare service providers helping them to
improve patient monitoring and overall care quality. Some companies are integrating
medical device data with EMR (Electronic Medical Records) to improve
transparency and collaboration. As consumer wearables are becoming more common,
patient data volumes are increasing and companies are investing in deploying
data management, warehousing and security technologies. For example, Medtronic
launched a tool to augment their cardiac devices to securely transfer device
data to doctors and allow them to monitor the critical health indicators of
their patients.
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Medtronic plc was the largest player in the medical
equipment market in 2017, with revenues of $30 billion in 2017. The growth
strategy of Medtronic involves building synergies and cutting down costs. For
Example, by merging with Covidien, Medtronic is targeting earnings of $350
million in 2016 and $850 million by end of 2018.
Medical equipment devices are
designed to aid diagnosis, monitoring or treatment of medical conditions.
Medical
Equipment Global Market Report 2018 is a detailed report giving a unique
insight into this market. The report is priced at $6000 for an individual user.
To use across your office, the price is $9000 and $12000 if you wish to use
across a multinational company.
About The Business Research Company
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The Business Research Company is a
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It has research professionals at its
offices in the UK, India and the US as well a network of trained researchers
globally. It has specialist consultants in a wide range of industries including
manufacturing, healthcare, chemicals and technology.
The Business Research Company's
management has more than 20 years of varied business research experience. They
have delivered hundreds of research projects to the senior management of some
of the world's largest organizations.
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