Technology & Aging Population Drive Growth in the Medical Devices and Diagnostics Market, According to a New Report by Global Industry Analysts

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Noteworthy factors causing growth in medical devices and diagnostics market include rise in aging population, product and technological innovations, availability of diagnostic equipment and growing attention to old age healthcare. As ageing population and life expectancy continue to increase steadily, demand for medical devices catering to health screening needs of general population and ageing population will continue to expand.

Medical Devices And Diagnostics: A Global Outlook

Medical devices and diagnostics sector forms a major part of the healthcare industry. Advanced technology, novel materials, new concerns, and adequate funding have transformed the healthcare scenario across the globe, inspiring new standards in pre- and post-operative therapeutics. Growth of medical devices and diagnostics market will be sustained by improving economic conditions, up gradation of existing systems, health care reforms, rising income and increasing affordability of medical products. Medical devices manufacturers are continually engaged in product development, research and improvement efforts, and new products and line extensions of existing products to distinguish their products from that of competitors and staying in business. These innovations provide the manufacturers an edge over their competitors and enables them the advantage of first-mover in the market. Consequently, the rise in these innovations is making the earlier technologies fast obsolete and significantly shortening the product lifecycle of medical devices. On par with the trend, minimally invasive medical products are developed that are steadily gaining grounds. These include endo-therapy devices such as videoscopes for abdomen and chest, drug-eluding stents, and HF surgery system designed for transurethrol resection.

Global orthopedic devices market is witnessing healthy growth driven by development of products and technologies as well as increase in demand for these products. Majority of the orthopedic devices manufactured are for the knees, followed by spine, and devices for the foot, elbow, hip and shoulder. Two leading markets for orthopedic devices are the US and Western Europe and Asia is emerging as the fast growing market for these products. Introduction of smaller and lighter and easily portable devices are the noteworthy developments in global infusion pumps market. Limited space near a hospital bed, and particularly in acute care areas where infusion pumps are installed with other medical equipment and other infusion pumps drive these innovations. Rapidly developing mobile healthcare sector is also a driving force behind development of smaller devices, as infusion pumps have to be necessarily lightweight, easy to handle and portable.

The development, testing, manufacture and marketing of the medical products are subject to extensive regulation and review by numerous governmental authorities both in the US and overseas. In addition, the medical device industry is subject to a myriad of complex laws governing Medicaid and Medicare reimbursements.

The report titled "Medical Devices And Diagnostics: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a statistical overview of the global medical devices and diagnostics industry with 14 data-rich tables presenting research/market findings on areas such as, medical device revenues/sales by region, installed base of medical imaging equipment worldwide, number of cardiovascular/restenosis procedures, and sales of cardiovascular devices, in-vitro diagnostic product sales, and market share analysis of players in the defibrillators market, among others. The US market is quantitatively analyzed with 42 information rich market data tables providing the reader incisive statistical facts, figures, and analysis into segments such as home health care/kits, pacemakers, footcare devices, implantable cardiac defibrillator, glucose kits, first aid devices, and diabetes care products, among others. Other regional markets either descriptively or statistically covered include Canada, Mexico, and Japan, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 2,674 companies worldwide.

For more details about this research report, please visit

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

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