Market Research Future published a Half-Cooked research report on “Global Non-Invasive Monitoring Device Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Noninvasive monitoring devices are used in hospitals, clinics, research laboratories for monitoring patients’ health. These devices helps doctor to understand condition of patients. These are used to monitor patient’s glucose level, heartbeat, blood pressure and many other things as well. The automation in other non-invasive medical device do have automation techniques. Technology advancement are increasing in the healthcare medical devices. These technology have simplified work for end users like doctors using medical devices. Large medical device companies are continuously spending great amount of time and raising funds for innovations of medical devices and to improve healthcare facilities. Not only large players but governments of different countries are also encouraging these companies to increase the research and development related to healthcare services and facilities. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017 – 2023.
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Global Non-Invasive Monitoring Device Market – Competitive Analysis
Vaso Medical (USA), Tensys Medical Inc. (Netherlands), OrSense Ltd. (Israel), NIMD (Israel), Glucowise (UK), CNSystems Medizintechnik AG (Austria), RSP systems A/S (Denmark) GE Healthcare (UK), Siemens (Germany), Abbott (USA), Nemaura (UK). Integrity (Israel) are some of the prominent players at the forefront of competition in the Global Non-Invasive Monitoring Device Market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the global market of Non-Invasive Monitoring Device appears to be highly competitive and fragmented. With well-established market in the North America region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
Netherlands Institute for Multiparty Democracy (NIMD), a non-invasive medical device company has been chosen to be one of the top 50 startup companies that has presented CODE_n in Germany in 2016. This company is based in Israel and is carrying out research and development of medical device for treating cancer. The device of CODE_n contest finalist is design in such a way that it can heat and kill cancer tumors. The tumor will be treated at low microwave powers and at high precision without causing damage to surrounding tissues.
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In September 2016, Nemaura a U.K. based a medical device company involved manufacturing minimally invasive, needle-free wireless CGM (Continuous Glucose Monitoring) patch that is known as sugarBEAT. The company has signed a letter with Shenzen CAS Health Corp. for manufacturing their product for sugarBEAT system. The product is noninvasive glucose monitoring skin patch. The company has succeeded in the completion of the second generation sugarBEAT system. The company has announced latest version of the sugarBEAT system that has improved sensors for glucose detection.
The agreement between these two companies will cover joint venture arrangements that is significantly related to sugarBEAT. The letter cover the following three agreements the first one is setting up a production unit in China for the manufacturing of sugarBEAT, second setting up a joint venture company to distribute the product in China, and finally gaining CFDA approval. Nemaura knowing the size of Chinese and wants to grab opportunity by expanding its unit in China.
Integrity, an Israel based company in February 2015 signed Distribution Agreements with LifeCaring Technologies Limited (H.K.) for the distribution of GlucoTrack Hong-Kong and China. The sales of this device has already started in parts of Europe, South America, Australia and New Zealand since 2016, after the latest version of this device won regulatory approval in Europe and in South Korea.
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Globally the Non-Invasive Monitoring Device market is segmented into America, Europe, Asia Pacific and Middle East and Africa. North America accounted for the largest market share of more than 41.5% in 2016. The sophisticated healthcare system, rising per capita income, awareness for noninvasive treatment and devices, government initiatives in this region facilitated the growth of the market. Furthermore Asia Pacific is expected to be the fastest growing region for the forecasted period. Rising economic developments in countries, specifically India and China, are expected to boost the demand for these products. Furthermore, this region contributes more than half of world’s population therefore, high unmet requirements of the growing population base opens up avenues for the market players. Many major players seek opportunity and expand their presence in this region influencing the growth of the market.
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