Global medical technology market is anticipated to grow at a CAGR of 17.1% from 2019 to 2027 and reach US$ 2324.34 million by 2027

Digital technology has played an important role in changing the global medical technology market. Digital innovation, combined with innovation and research, is expected to lead the global healthcare technology market. There were two innovative medical discoveries in the treatment of cancer and eye diseases associated with the Institute of Science and Technology (A * STAR) in 2019.

The first is an innovative high-tech nanocarrier for delivering anticancer drugs, the second is Apratoxin S4, which aims to develop therapeutics for retinal diseases. With the advent of AI-enabled solutions in the healthcare sector, the cost of products and services will fall, which will fight the onslaught of these products. Partnering with NVIDIA in 2017, GE Healthcare essentially integrates artificial intelligence technology into 500,000 imaging devices, including innovative frontier computed tomography (CT) systems and ultrasonic imaging devices such as Vivid ™ E95 and LOGIQ ™ E10. I did. This AI technology accelerates the reconstruction and visualization of blood flow and improves 2D and 4D imaging of specific imaging solutions.

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Ultrasound-guided vacuum assisted breast benign corpectomy, also known as the Mammotome procedure, is a new medical technology recognized by the Republic of Korea Evidence-Based Medical Cooperation Agency (NECA) in 2019. Mayo Clinic and Boston Scientific are new accelerating programs for advanced medical technologies focused on non-invasive treatment in 2019.The device has seen a resurgence. Using AI has influenced the redesigned paradigm shift. DeepMind has acquired a radiologist in the field of breast cancer and eye disease diagnosis.

Wearables that incorporate technologies like Fitbits, Apple Watches, or Smart Pregnancy Belts will help you track your health. It also allows for more personalized medical and monitoring services. UBiome, the latest development in the category of self-tracking devices, tracks the status of the intestinal microflora. During self-monitoring, clinicians are developing software that provides accurate diagnostic decisions. As we move forward, AI integration with medtech will enable better analysis and precision in diagnostics. With less room for human error, more effective treatment solutions are possible. Technology company Excella uses behavioral science and sophisticated technology to develop a clinician an app that can quantitatively measure alcohol abuse severity within 4 minutes. In 2018, the FDA approved IDx-DR, a software algorithm that uses AI to analyze images of the eye using a camera, and achieved 87.4% accuracy while detecting 'weak or diabetic retinopathy'.

The detailed research study provides qualitative and quantitative analysis of the global medical technology market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report: 
  • The global medical technology market has seen a technology breakthrough with the introduction of products like smart inhalers, robotic surgeries, 3D printing in creating implants and the increased use of health wearables and precision medicine in 2019. In, July 2019, Huami Corporation launched a GTR smartwatch in its Amazfit series that monitors heart rate, analyses sleep and tracks exercising supporting 12 sports modes.
  • In terms of revenue, the Asia–Pacific medtech market was valued at US$ 91.16 billion in 2018. The region is also expected to witness the highest CAGR over the forecast period followed by Latin America. The region has a huge scope with leading medtech companies bringing out innovative ways to cater to the healthcare needs of the people residing in the region. According to a survey recently undertaken, medtech companies are expected to grow at considerable pace, wherein, China, SEA, and India is expected to exhibit 15 percent,13 percent and 12 percent in less than a decade.
  • Key players operating in the medical technology market 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. Additive Orthopedics, a medical technology company, created a custom 3D printed bone replacement. Boston Scientific Corporation’s MedSurg, will be launching Exalt-D Single-Use Duodenoscope, which will be duly used in ERCP procedures.
Customization Available at Minimal Cost@ By Component
  • Hardware
  • Software
  • Services
By Application
  • Diagnostic Imaging
  • In-Vitro Diagnostics
    • Class A
    • Class B
    • Class C
    • Class D
  • Orthopedics
  • Wound Management
  • Dental
  • Drug Delivery
  • Cardiology
  • General and plastic Surgery
  • Ophthalmic
  • Others
Medical Technology Market By Product Categories
  • Active implantable technology
    • Cardiac pacemakers
    • Neurostimulators
    • Others
  • Anesthetic respiratory technology
    • Oxygen mask
    • Gas delivery unit
    • Others
  • Dental Technology
    • Dentistry tools
    • Alloys
    • Others
  • Electromechanical medical technology
    • X-ray machine
    • Laser
    • Others
  • Hospital Hardware
  • In vitro diagnostics technology
    • Pregnancy Test
    • Genetic Test
    • Glucose Strip
    • Others
  • Non-active implantable technology
  • Ophthalmic and optical technology
    • Spectacles
    • Contact lenses
    • Intraocular lenses
    • Others
  • Reusable instruments
    • Surgical instruments
      • Anesthesia apparatuses
      • Blood transfusion devices
      • Catheters
      • Hypodermic needles
      • Others
    • Rigid endoscopes
    • Blood pressure cuffs
    • Stethoscopes
    • Others
  • Single use technology
  • Technical aids for disabled
    • Wheelchairs
    • Walking frames
  • Hearing aids
  • Diagnostic and therapeutic radiation technology
  • Complementary therapy devices
    • Acupuncture needles/devices
    • Bio-Energy mapping systems/software
    • Magnets
    • Moxibustion devices
    • Others
  • 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
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • Kuwait
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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