The global market for medical device should grow from $470.5 billion in 2018 to reach $640.9 billion by 2023 at a compound annual growth rate (CAGR) of 6.4% for the period of 2018-2023.
- 51 data tables and 44 additional tables
- An overview of latest innovations in medical device technologies within the healthcare industry
- Analyses of the global market trends with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Review of emerging medical device innovations by clinical specialty such as trauma and orthopedics
- Insight into the government regulations, pricing structure, performance monitoring, and pricing pressure (healthcare initiatives) in the U.S. and Europe
- Discussion of the importance of medical device regulation and regulatory bodies, protection of intellectual property rights, and barriers to medical device innovation
- Profiles of major companies of the industry, including Abbott Laboratories, Boston Scientific Corp., General Electric Co., Johnson & Johnson and Paradromics Inc.
The key objectives of this study are to:
- Review the medical device innovation process. This includes:
- The generation of new ideas.
- Advocacy and idea screening.
- Experimentation and trial process.
- Diffusion and implementation of innovation.
- Review medical device innovations by clinical specialty.
- Review major new medical device technological advances, developments and innovations. This includes:
- Surgical robotic systems.
- Mobility and cloud access.
- Nuclear medicine imaging devices.
- 4k ultra-high definition medical imaging technologies.
- Augmented, virtual and mixed reality devices.
- 3D printing technologies.
- The advent of artificial intelligence (AI) in healthcare.
- Wearable medical device technologies and the Internet of Things (IoT).
- Radio frequency wireless technologies.
- Bio-printing (artificial organs).
- Clustered regularly interspaced short palindromic repeats (CRISPR).
- Bluetooth-enabled medical devices.
- Examine the commercial implications of the market introduction of new medical devices. This includes undertaking the following:
- Review the range of joint ventures, collaborations, licenses and research agreements currently focused on new medical device technologies.
- Review of the regulatory requirements, intellectual property protection, patents and trademark process.
- Review the impact that the new and improved technologies will have on the market dynamics by geographic region.
- Survey the key players involved in the development of new and innovative medical device technologies together with major improvements to existing technologies and provide company profiles.
By purchasing this study, the reader will gain:
- An improved understanding of the current state and future of new and emerging innovative medical device technologies.
- The latest information on the leading companies engaged in developing new and improving existing medical device technologies, a review of the status of their intellectual property and product pipelines, and insight into their proprietary technologies.
- An understanding of the impact that these new products and technologies will have on the growth and development of the medical market.
- An appreciation of how these new medical devices will affect the provision of healthcare, how they will provide clinicians with new methods to treat existing conditions and how these technologies will improve clinical outcomes for patients.
- An awareness of the implication that these new medical device technologies will have on the regulatory and legislative approval process. This will be essential for maintaining compliance in the changing regulatory environment, as well as for promoting commercial competitiveness and facilitating early access to innovative medical device technologies.
- A knowledge of intellectual property protection through patents and trademarks.
- An appreciation of the barriers to innovation in the field of medical devices and how to overcome them.
The analysis includes the use of charts and graphs measuring product growth and trends within the marketplace. Company-specific information, including sales figures, product pipeline status and R&D trends, is provided throughout the report.
PAUL TAYLOR is an independent market researcher and analyst focused on the medical industry working on projects for over 20 years for a variety of prestigious clients including Agilent & Philips Medical Systems, Biomatrix, Inc (Genzyme Corporation), GE Medical Systems (Multiple Projects), Amersham Pharmacia Biotech Limited, Amersham Pharmacia Biotech Limited and Baxter Heathcare. He previously worked for multinational medical device and pharmaceutical companies including Bristol-Myers Squibb, Johnson & Johnson and Pfizer on developing and implementing strategic business and marketing plans. His predictive analytics knowledge and models of market research data have been used for biopharmaceutical and biotechnology clients. He has a bachelor's degree and Ph.D. degree in biochemistry from the University of Liverpool and an MBA degree for Oxford Brookes University.