Trends in Medtech - Highlighting technology opportunities in key market segments

 

Life Sciences

CONTENTS

Bringing MedTech into the Future

SUMMARY

The medical technology field (MedTech) encompasses a wide variety of solutions and tools used in treatment, diagnosis, monitoring, and general medical care. MedTech solutions help healthcare providers solve patients’ health problems, enrich their quality of life, and improve the provision of healthcare. The medical technologies market is evolving rapidly, driven by factors such as changes in the prevalence of particular diseases, the introduction of novel healthcare models, and advances in precision medicine and minimally invasive surgical techniques. Technological innovations are however the main driver in this field; to futureproof their businesses, MedTech companies are investing in emerging technologies that can provide better diagnoses, more effective treatments, and more accurate monitoring and data analytics. In this μInsight, we investigate the top 16 MedTech market segments which collectively amount to over 85% of the market for medical technology, and are projected to have high growth rates (i.e., greater than 3%) over the next five years. We summarise each segment’s key market characteristics, including market size, projected growth rate, key sub-segments, the factors driving each segment’s growth, critical technology trends, and list the key innovators in each segment.

 
 

Introduction

Medical technology (MedTech) solutions, including medical devices and healthcare IT, are continuously evolving to allow for better treatment, diagnosis, monitoring, and patient care. In addition to improving patients’ quality of life, MedTech enables more patient-friendly care delivery, over the long-term, can lead to improvements that impact the entire healthcare system. This market experiences continuous and rapid change, due to factors such as changes in the  prevalence of certain diseases, the introduction of novel healthcare models, and new advances in fields such as precision medicine and minimally invasive surgery. Technological advancements are the primary factor that is revolutionising the provision of healthcare and improving the quality of care. MedTech companies are pursuing a range of innovative emerging technologies, including:

  • diagnostic technologies, including next-generation sequencing, point-of-care diagnostics, liquid biopsies, and biosensors

  • treatment technologies, including bioelectronics, smart materials, drug delivery technology, robotic surgery, robotic prosthetics, and telesurgery

  • monitoring technologies, including telehealth, wearables, nanosensors, RFID, internet-of-things (IoT), and consumer-facing technologies

  • data technologies, including machine learning, cloud computing, blockchain, high-performance computing (HPC), and cybersecurity

Healthcare models are changing rapidly to address the need for novel ways to value and deliver healthcare. Some of relevant trends include the adoption of connected health solutions, precision medicine, value- and outcome-based payment models, and healthcare systematisation. These developments have been supported by the growth of the MedTech sector, which has created opportunities for more established players (e.g., big pharma, biotech), as well as for smaller companies that are developing and commercialising new MedTech solutions. Further innovations in medical technology have the potential to reshape the way healthcare is delivered in several ways. For example:

  1. Facilitating new ‘’beyond-the-product’’ approaches to medical care, with symptom monitoring, adherence tracking, and other measurement capabilities delivered with standard treatments.

  2. Expanding ways that patients remain in contact with their healthcare providers through telehealth and related services, increasing patients’ access to healthcare information and improving their quality of care.

  3. Empowering patients to self-manage their care by providing user-friendly health monitoring and advice tools on their mobile devices.

  4. Personalising medical interventions and healthcare advice by leveraging recent advances in diagnostics tools (e.g., genetic, molecular, imaging) and data analytics.

  5. Enabling the use of novel clinical trial models (e.g., in-life studies, real-world evidence gathering).

Connected health is a socio-technical model for healthcare management and delivery that uses technology to provide healthcare services remotely. It maximizes the use of limited healthcare resources, and provides increased, flexible opportunities for patients to engage with their healthcare providers, as well as tools for patients to self-manage their care. It frequently uses consumer technologies (e.g., mobile devices) to deliver patient care outside of the hospital or doctor's office.

Precision medicine aims to customise the provision of healthcare, with medical decisions, practices, and products tailored to each individual patient. Precision medicine approaches use diagnostic testing tools—such as molecular diagnostics, imaging, and analytics—to select appropriate and optimal therapies based on the context of a patient’s genetic content or other molecular or cellular analyses.

Value-based purchasing and outcome-based payments are payment models that offer financial incentives to healthcare providers for meeting certain performance measures. Clinical outcomes, such as longer survival rates or improvements in symptom frequency, have proven challenging to reliably measure, quantify, and track. Such difficulties have created new opportunities for medical technologies such as wearable monitoring devices, mobile apps, and data analytics systems, which can make the measurement process easier and more accurate.

Healthcare systematisation refers to implementing comprehensive systems that allow for the systematised collection, organisation, and access of medical data between different healthcare organisations

The market size of the global MedTech market is currently around $505 billion, and includes both the medical device market (~$389 billion) and the healthcare IT market (~$116 billion). We have identified 16 market segments within the medical technology market that are critical for the future growth of this industry. The top 16 segments represent over 85% of the current MedTech market share, and have strong projected compound annual growth rates (CAGR) over the next five years. When ranked according to their estimated market size in 2016, these 16 segments are:

  1. Healthcare IT ($116 billion; +15.9% CAGR)

  2. In-Vitro Diagnostics ($60 billion; +5.5% CAGR)

  3. Medical Imaging ($53 billion; +5.0% CAGR)

  4. Cardiovascular Devices ($54 billion; +4.3% CAGR)

  5. Orthopaedics Devices ($39 billion; +6.1% CAGR)

  6. Hospital Supplies ($30 billion; +11.5% CAGR)

  7. Ophthalmology Devices ($31 billion; +6.4% CAGR)

  8. Endoscopy Equipment ($26 billion; +6.2% CAGR)

  9. Dental Equipment & Consumables ($20 billion; +6.1% CAGR)

  10. Diabetic Care ($19 billion; +5.3% CAGR)

  11. Nephrology & Urology Devices ($18 billion; +5.9% CAGR)

  12. Wound Management ($18 billion; +3.7% CAGR)

  13. Neurology Devices ($10 billion; +13.5% CAGR);

  14. General Surgical Devices ($9 billion; +9.6% CAGR)

  15. Needle-Free Drug Delivery ($7 billion; +10.5% CAGR)

  16. Wearable Medical Devices ($5 billion; +18% CAGR).

The fastest growing MedTech market segments (i.e., those with a projected CAGR above 9%) are ‘Wearable Medical Devices’, ‘Healthcare IT’, ‘Neurology Devices’, ‘Hospital Supplies’, ‘Needle-Free Drug Delivery’, and ‘General Surgical Devices’. We provide a comprehensive breakdown of all 16 MedTech segments, and summarise key market characteristics such as market size, projected growth rate, key sub-segments, and factors driving each segment’s growth (in the Western world).  We also identify critical technology trends and key innovators in each sector. Note that some of the 16 MedTech sectors do overlap.

 

Figure 1: Overview of the featured MedTech segments, ranked according to their projected market size in 2021 (size of bubble).

 
 
 
 
 

KEY INNOVATORS IN THE TECHNOLOGY AREA

 

HEALTHCARE IT

McKesson

Epic Systems

Cerner

GE Healthcare

Philips Healthcare

Allscript Healthcare Solutions

Oracle

Cognizant Technology Solutions

Dell Technologies

Philips Healthcare

Agfa Healthcare

Hewlett-Packard

E-MDS

Athenahealth

Carestream Health

eClinicalworks

IN-VITRO DIAGNOSTICS

Abbott

Becton Dickson & Co

BioMeriux

Bio-Rad Laboratories

Danaher

Hoffmann-La Roche

Ortho Clinical Diagnostics

Siemens Healthcare

Sysmex Corp

Thermo Fisher Scientific

Johnson & Johnson

Qiagen

Diasorin

 

MEDICAL IMAGING

Siemens Healthcare

GE Healthcare

Philips

Toshiba Medical Systems

Fujifilm Corp

Carestream Health

Hitachi

Konica Minolta

Shimadzu

Varian Medical Systems

Esaote

Hologic

Samsung Medison

Shimadzu Corp

 

CARDIOVASCULAR DEVICES

Medtronic

St Jude Medical

Boston Scientific

Biotronik

Abbott

Johnson & Johnson

Edwards Lifesciences

Terumo

LivaNova

CR Bard

Integer Holdings

WL Gore & Associates

Asahi Kasei

Getinge

CR Brand

Cardinal Health

Cook Medical

Edwards Lifesciences Corp

Metronic

Terumo Corp

 

ORTHOPAEDIC DEVICES

Johnson & Johnson

Zimmer

Stryker

Medtronic

Smith & Nephew

Arthrex

NuVasive

Wright Medical Group

Globus Medical

Orthofix International

RTI Surgical

AlloSoruce

ISTO Technologies

LifeNet Health

Exactech

HOSPITAL SUPPLIES

GE Healthcare

Covidien

Thermo Fisher Scientific

Boston Scientific

B. Braun Melsungen

3M Health Care

Becton Dickson and Company

Cardinal Heath

Kimberly-Clark Corp

Advanced Sterilization Products Services

Molnlycke Health Care

Steris Corp

Stryker

Terumo Corp

Getinge

Johnson & Johnson

Baxter International

Fresenius Medical Care

OPHTHALMOLOGY DEVICES

Essilor International

Novartis

Hoya

Valeant Pharma

Johnson & Johnson

Carl Zeiss

The Cooper Companies

Abbott

Alcon

Essilor International

Bausch & Lomb

Haag-Streit

Topcon Corp

Nidek

Ziemer Ophthalmic Systems

ENDOSCOPY DEVICES

Medtronic

Ethicon Endo-Surgery

Fujifilm Corp

Given Imaging

Hoya Corp

Karl Storz

Olympus

Richard Wolf Medical Instrument

Boston Scientific

Conmed Corp

Cook Medical

Stryker

Pentax Medical Corp

Smith & Nephew

Johnson & Johnson

 

DENTAL EQUIPMENT & CONSUMABLES

A-Dec

Amd Lasers

Biolase Inc

Carestream Health Inc

Danaher Corp

Dentsply Sirona

Gc Corp

Henry Schein

Ivoclar Vivadent

Midmark Corp

Noble Biocare

Planmeca Group

Sirona Dental Systems

Straumann

Ultradent Products

 

DIABETIC CARE

Abbott Lab

Dexcom

Johnson & Johnson

Merck

Becton

Dickson and Company

Roche Diagnostics

Bayer

Acon Lab

Ypsomed

Novo Nordisk

Medtronic

ARKRAY

Terumo Corp

Sanofi

NEPHROLOGY & UROLOGY DEVICES

Asahi Kasei Corp

Baxter International

Cook Group

Fresenius Medical Care

Nipro Corp

Terumo Corp

CR Bard

Dornier MedTech

Nikkiso Corp

NxStage Medical

Boston Scientific

American Medical Systems

Olympus Medical Systems

Rockwell Medical Technologies

B. Braun Melsungen

WOUND MANAGEMENT

Acelity

Smith & Nephew

Mölnlycke Health Care

ConvaTec Group

Baxter International

Coloplast

BSN Medical

Organogenesis

DeRoyal Industries

IonMed

Ethicon

Medtronic

3M Company

Hill-Rom Holdings

Paul Hartmann

NovaBay Pharmaceuticals

Derma Sciences

Vivostat

Wound Care Technologies

Leap Therapeutics

Hematris Wound Care

Alliqua BioMedical

LayerBio

Triage Meditech

Fidia Pharma

NEUROLOGY DEVICES

Medtronic

Nevro

Terumo

St Jude Medical/ Abbott

Stryker

Codman & Shurtleff

Integra LifeSciences

LivaNova

B. Braun Melsungen

Boston Scientific

Cyberonics

Johnson & Johnson

Magstim Company

WL Gore & Associates

Covidien

GENERAL SURGICAL DEVICES

Allergan

Cynosure

DePuy Synthes

Galderma

Syneron Medical

Stryker

B. Braun Melsungen

CareFusion Corp

Codman & Shurtleff

Covidien

Conmed Corp

ERBE Elektromedizin

Ethicon

Integra LifeSciences

Accuray

Intuitive Surgical

Medrobotics Corp

TransEnterix Surgical

NEEDLE-FREE DRUG DELIVERY

3M Pharmaceuticals

Akra Dermojet

Antares Pharma

AstraZeneca

BioJect Medical Technologies

D'Antonio Consultants International

GlaxoSmithKline

Glide Pharmaceutical

Injex Pharma

Merck

Mylan

Novatis

Penjet Corp

PharmaJet

Sanofi

Valeritas

Zogenix

WEARABLE MEDICAL DEVICES

Fitbit

Philips Healthcare

Garmin

LifeWatch

Drägerwerk AG

Withings

Jawbone 

Polar Electro Oy

Zephyr Technology Corp

OMRON Healthcare

Basis Science

Sotera Wireless

ResMed

Intelesesn

Vital Connect

Withings

1) HEALTHCARE IT                             

$116 billion (2016) +15.9% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Electronic health record (EHR)

  • Radiology information system (RIS)

  • Picture archiving & communication systems

  • Vendor neutral archives (VNA)

  • Computerised physician order entry (CPOE)

  • Health information exchanges (HIE)

  • Telehealth

  • Healthcare Analytics

  • Population Health Management

  • Supply Chain Management

  • Customer relationship management (CRM)

  • Fraud management

  • Claims management

MARKET-DRIVERS

  • Market Drivers

  • Aging population

  • Higher prevalence of diseases chronic diseases

  • Increasing demand for health and fitness monitoring

  • Penetration of 3G and 4G mobile networks

  • Rising health concerns among people

  • Growing focus on monitoring day-to-day variations in health conditions

  • Rising usage of big data analytics

TECHNOLOGY TRENDS

  • Internet-of-Things (IoT) and wearables for interoperability and telemedicine

  • Artificial intelligence (AI) to provide actionable intelligence

  • Blockchains to improve health records, execute transactions, and interact with stakeholders

  • Cloud computing (already used by 83% of healthcare organisations)

  • Consumer-facing technologies

  • Disease management technology that leverages on modern data management platforms to provide precision medicine

  • EHR improvement

  • Evolution imaging to help clinicians make earlier diagnoses

  • High-performance computing (HPC)

2) IN-VITRO DIAGNOSTICS                   

$60 billion (2016) with +5.5% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Immunochemistry

  • Molecular diagnostics

  • Point-of-Care (PoC) tests

  • Clinical microbiology

  • Hematology and tissue diagnostic

MARKET-DRIVERS

  • Rising prevalence of chronic lifestyle and generic diseases

  • Aging population

  • Growing numbers of private diagnostic centres

  • Increasing acceptance of personalised medicine

  • Growing adoption of technologically advanced products

  • Shift in focus from centralised laboratories to decentralised point-of-care testing

TECHNOLOGY TRENDS

  • Development of novel ‘omics’ assays for molecular diagnostics

  • Innovations around point-of-care tests

  • Liquid biopsies for minimally invasive cancer diagnosis

  • Use of information technologies

  • Advances in next-generation sequencing

3) MEDICAL IMAGING               

$53 billion (2016) +5.0% CAGR (2017-2021)

 

SUB-SEGMENTS

  • X-ray imaging

  • Computed tomography (CT)

  • Magnetic resonance imaging (MRI)

  • Ultrasound

  • Nuclear imaging

MARKET-DRIVERS

  • Growing occurrences of chronic diseases

  • Increasing healthcare expenditures

  • Rising public awareness associated with early diagnosis of disease

  • Increasing use of technically advanced diagnostic

  • Imaging systems

  • Risk of high radiation exposure

  • Aging population

TECHNOLOGY TRENDS

  • Digital X-ray and 3D X-ray

  • Advanced X-ray with reduced radiation dose

  • Digital breast tomosynthesis

  • 3D ultrasonic holography

  • Accelerated image processing with graphical processing units

  • Point-of-care imaging systems

4) CARDIOVASCULAR DEVICES

$54 billion (2016) +4.3% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Cardiac rhythm management

  • Interventional cardiac devices

  • Peripheral vascular devices

  • Structural heart devices

  • Electrophysiology

  • Diagnostic and monitoring devices

MARKET-DRIVERS

  • Growing demand for minimally invasive surgery

  • Increasing healthcare expenditure

  • Aging population

  • Increasing prevalence of cardiovascular diseases

TECHNOLOGY TRENDS

  • Minimally invasive techniques for heart valve replacement

  • Bioabsorbable stents

  • Innovations in transcatheter aortic valve replacement (TAVR)

  • Portable heart monitoring devices

  • Cardiopulmonary bypass products

  • Cardiac assist devices

5) ORTHOPAEDICS DEVICES

$39 billion (2016) +6.1% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Joint reconstruction and replacement

  • Spinal devices

  • Trauma fixation devices

  • Orthobiologics

  • Arthroscopic devices

MARKET-DRIVERS

  • Increasing awareness of minimally invasive procedures

  • Growing prevalence and incidence of orthopaedic disorders

  • Increase in obesity

  • Aging population

  • Soaring incidence of road accidents and sports injuries increasing number or work-related musculoskeletal disorders

TECHNOLOGY TRENDS

  • 3D scans and 3D printing for customised joints

  • Robot-assisted surgical procedures

  • Orthobiologic technologies to speed up healing

  • Surgical procedure improvements, e.g., motion preservation techniques, tissue-guided surgery, and cement-less knee replacement

  • Smart implants containing sensors for surgical positioning and post-operative evaluation.

6) HOSPITAL SUPPLIES

$30 billion (2016) +11.5% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Patient examination devices

  • Operating room equipment

  • Mobility aids and transportation equipment

  • Sterilisation and disinfectant equipment

  • Disposable hospital supplies

  • Syringes and needles

MARKET-DRIVERS

  • Growing awareness towards control of hospital-acquired infections (HAIs)

  • High incidence rate of inflammatory and communal diseases, e.g. Pneumococcal disease and sexually transmitted diseases

  • Aging population

TECHNOLOGY TRENDS

  • Application of radio-frequency identification (RFID) to optimise supply chain management

  • ABC Syringes (i.e., A  Behaviour Changing Syringe) which visually alerts when it has been used

7) OPHTHALMOLOGY DEVICES

$31 billion (2016) +6.4% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Diagnostic and monitoring devices

  • Surgical devices

  • Vision care devices

MARKET-DRIVERS

  • Growing awareness and adoption of advanced ophthalmic devices

  • Growing lifestyle diseases lead to the increased prevalence of eye disorders

  • Ageing population

  • Need for early detection

  • Increased government investment towards research activities and technical advancements

TECHNOLOGY TRENDS

  • Multifocal intraocular lens (IOL) design to improve optical quality and range of vision

  • Surgical advances in glaucoma surgery, e.g., subconjunctival glaucoma implants

  • Cornea collagen crosslinking through photosensitizer irradiation 3D digital imaging for heads-up live retina surgery

  • Optical coherence tomography (OCT) angiography

8) ENDOSCOPY EQUIPMENT

$26 billion (2016) +6.2% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Endoscopes

  • Visualisation equipment

  • Endoscopy Accessories

MARKET-DRIVERS

  • Growing replacement of conventional open surgeries with minimally invasive procedures

  • Emphasis on early disease detection & management Ageing population

  • Increasing incidence of cancer and gastrointestinal diseases

TECHNOLOGY TRENDS

  • Move from expensive optical high-end  endoscopes towards optimised visualisation systems that integrate endoscope and camera

  • Visualisation technologies, e.g. 3D-imaging system, chip-in-scope, LED-in-scope, full  
    HD image sensors, 4K resolution

  • Assisting algorithms for enhancing the image quality, correcting system errors, and highlighting specific areas

9) DENTAL EQUIPMENT & CONSUMABLES

$20 billion (2016) +6.1%CAGR (2017-2021)

 

SUB-SEGMENTS

  • Dental lasers

  • Dental radiology equipment

  • Laboratory machines, systems and parts

  • Hygiene maintenance

  • Dental prosthetics

  • Dental anaesthetics

  • Dental syringes

  • Endodontics

MARKET-DRIVERS

  • High prevalence of age-related dental disorders, due to ageing population

  • Growing risk factors for oral diseases including tobacco use, unhealthy diet, poor oral hygiene, and consumption of alcohol

  • Rising incidence of periodontal disease and oral cancer

  • Rising demand for aesthetic treatments

  • Increased patient demand for sophisticated and advanced equipment

  • Increasing dental tourism

TECHNOLOGY TRENDS

  • Digital impression CAD/CAM

  • Implants, procedures, and ralated technologies innovation

  • Cheaper and more portable laser device

  • Cone beam 3D imaging

  • Electronic handpieces

 
 
 
 

11) NEPHROLOGY & UROLOGY DEVICES

$18 billion (2016) +5.9% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Dialysis devices

  • Urinary stone treatment

  • Lithotripters

  • Ureteral and prostatic stents

  • Incontinence and pelvic organ prolapse treatment

  • Sacral neuromodulation

  • Mesh and slings

  • Benign prostatic hyperplasia (BPH) devices

  • BPH catheterisation ablation devices

MARKET-DRIVERS

  • Aging population

  • Growing prevalence of chronic kidney diseases

  • Use of innovative nephrology and urology devices Increase in healthcare expenditure

  • Growing popularity of non-invasive and minimally invasive treatment processes

  • High cost associated with devices hinders the growth of this market

TECHNOLOGY TRENDS

  • Wearable (mature) and implantable (immature) artificial kidneys

  • Combined use of ion-sensitive sensors and electrode

  • Living membranes

  • Shockwave therapy

  • Laser lithotripsy

12) WOUND MANAGEMENT

$18 billion (2016) +3.7% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Advanced wound management products

  • Surgical wound care

  • Traditional/basic wound care

MARKET-DRIVERS

  • Increase in chronic wounds and ulcers

  • Rising incidence of diabetes

  • Aging population

  • Increasing awareness about new technologies for wound care

  • Government support in the form of funding

TECHNOLOGY TRENDS

  • Smart materials, e.g., for negative-pressure wound therapy (NPWT)

  • Use of human collagen from grown and harvested from plants

  • Advanced materials, e.g. foams, alginates, and hydrogels

13) NEUROLOGY DEVICES

$10 billion (2016) +13.5% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Cerebrospinal fluid management devices

  • Interventional neurology devices

  • Neurosurgery devices

  • Neurostimulation devices

MARKET-DRIVERS

  • Rise in incidence of cerebral stroke, Alzheimer’s disease, epilepsy, and Parkinsonism

  • Patient and physicians demand for minimally invasive procedures

  • Ageing population

  • Increasing awareness of neurological disorders

  • Increase in endovascular embolization treatments

  • Growth of mechanical thrombectomy devices for  ischemic stroke

TECHNOLOGY TRENDS

  • Advanced surgical access devices to reduce invasiveness

  • Improved embolization devices

  • Implantable electroceutical devices to stimulate nerves and tackle systemic chronic disorders

  • Wearable technologies to monitor symptoms such as seisures and disease progression

15) NEEDLE-FREE DRUG DELIVERY

$7 billion (2016) +10.5% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Oral drug delivery system

  • Inhaler technology

  • Laser-based needle-free injectors

  • Jet injectors

  • Novel needle-free technologies

  • Spring-based needle-free injectors

  • Transdermal patch technology

  • Other needle-free technologies

MARKET-DRIVERS

  • Rising prevalence of chronic diseases

  • Growth in bio-pharmaceuticals market

  • Growing efforts towards formulating dosage forms that would help in maximising the bioavailability of the drug at the target site while increasing the  patient convenience

  • Growing demand for self-administration drugs

  • Increasing incidence of needle stick injuries

TECHNOLOGY TRENDS

  • Single-use dose packages

  • Development of nanopatches, electronically assisted transport, microneedles, iontophoresis, and intranasal strategies

  • Blow-Fill-Seal (BSF) technology employment

  • Buccal transmucosal delivery

  • Use of Lorentz forces, shock waves, pressure by gas, and electrophoresis

10) DIABETIC CARE

$19 billion (2016) +5.3% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Monitoring devices

  • Insulin delivery devices

MARKET-DRIVERS

  • Large patient pool suffering from diabetes

  • Use of innovative technologies

  • More R&D in diabetes diagnosis and treatment

  • Minimally or non-invasive products

  • Increasing awareness

  • Improving diagnosis and treatment rates

  • Growing need for faster, safer and effective method of diagnosis and treatment of diabetes

  • The market is constrained by high cost associated with diagnosis and treatment, reimbursement issues and patent expiry

TECHNOLOGY TRENDS

  • Interoperability between technologies, e.g., wearable sensors

  • Microbiome assays and personalised nutrition

  • Patient engagement platforms

  • Ultra long-acting insulins

  • Artificial pancreas

  • Improved insulin pens and pumps

14) GENERAL SURGICAL DEVICES

$9 billion (2016) +9.6% CAGR (2017-2021)

 

SUB-SEGMENTS

  • Disposable surgical supplies

  • Open surgery instruments

  • Energy-based and powered instruments

  • Minimally invasive surgery instruments

  • Medical robotics and computer-assisted surgery devices

MARKET-DRIVERS

  • Rising number of surgical procedures due to rising prevalence and incidence of chronic diseases

  • Ageing population

  • Increasing healthcare expenditure

  • Rising demand for technologically advanced

  • Minimally invasive surgical procedures

TECHNOLOGY TRENDS

  • Robotic and power-assisted systems

  • Augmented reality (AR) for minimally invasive procedure or locating a tumour

  • Minimally invasive surgery innovations

  • 3D printing and simulations in pre-operative planning

  • Artificial Iintelligence (AI) support for automated robotic surgery

16) WEARABLE MEDICAL DEVICES

$5 billion (2016) +18% CAGR (2017-2021)

SUB-SEGMENTS

  • Therapeutic wearable devices

  • Diagnostic devices

  • Vital sign monitoring devices

MARKET-DRIVERS

  • Growing number of smartphone-based  healthcare apps compatible with wearable devices

  • Rising preference for wireless connectivity among healthcare providers

  • Increasing focus on physical fitness & wellbeing

  • Growing need for bed-side monitoring

  • Growing need for user friendly point-of-care devices

  • Decentralisation of healthcare

  • Use of in-life data for healthcare insurance decision making

  • Movement towards using wearables for clinical trials

  • Movement toward ‘beyond-the-pill’ healthcare solutions

  • Gradual development and adoption of connected and e-health solutions and infrastructure

  • Growing importance of value-based payment  models

TECHNOLOGY TRENDS

  • Innovation around glucose/insulin monitoring, rehabilitation devices, pain management, and respiratory therapy  devices

  • Growth of the ‘quantified self’ industry   and sports and lifestyle performance
    monitoring devices

  • Innovation for fetal monitors obstetric  devices, sleep monitoring devices,neuro-monitoring devices, and vital signs monitors

  • Advancements in data analytics andmachine learning

  • Miniaturisation of sensors

 
 
 
 
 
 
 

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