North America Medical Devices technology market was estimated to be USD 180 billion in 2016 and is predicted to reach USD 235.51 billion by 2021 at a CAGR of 5.51%
Broadly, Any Physical item used in Medical treatment is known as Medical Device. Technologies used with Medical Devices are called Medical Device Technology. The Advancement in technology has changed ways in which medical Devices are used to treat patients. Electronic aspirin used for relief from migraines, robotic health checkup instrument, needle free diabetes care instrument to find the glucose level are some of these Technologies.
Medical Device Technology is a broad field where innovation is the major driving factor. MRI Systems, Ultrasound systems, x ray systems and mammography instruments are on demand globally for the diagnosis of disease and disorder. With increasing demand for above mentioned instruments market device technology market will also increase. At present, many hospitals and clinics are adopting workflow automation processes to ensure patient safety.
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Work flow automation provides fast and consistent data analysis. The increased need for workflow automation and better communication processes are also major driving factors in medical device industry. With the growing occurrence of technology piracy, it is hard to avert the misuse of non-licensed technology in biomedical device integration. This is a major restraint for medical device technology industry. Technical complexity and high cost of some medical technology might restrict global market demand. In addition, regulatory compliance for approval of medical device technology is a major factor that might hinder global market for medical device technology. This region has highest Share of market because of greater accessibility of technology, rise of chronic diseases and rising geriatric population.
The market device technology can be segmented in to type of devices such as Electro medical equipment which includes pacemakers, MRI systems, patient monitoring system, ultrasonic scanning system and diagnostic imaging system. Irradiation apparatus including x ray devices, tomography devices and surgical and medical apparatus. Dental apparatus includes equipment used by dentists, dental hygienists and laboratories. in vitro diagnostics (IVD) devices, kidney/dialysis devices, diagnostic imaging devices, ophthalmology devices, orthopedic devices, endoscopy devices, diabetes care devices, anesthesia & respiratory care devices, and wound management devices. Some of the other widely used technologies are biomarkers, bioimplants and molecular diagnostics. Of all these segments, Diagnostic imaging system has highest market.
- Electro medical equipment
- Irradiation Apparatus
- Dental Equipment and Supplies
- Y-o-Y Growth Analysis, By Type
- Clinics & Hospitals
- Medical Device Industries
- Research and Pharmaceutical Entities
Scope of the report:
- Regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
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