Medical devices are products which are used for diagnosis, prevention, or treatment of diseases, disabilities, injuries etc. These devices range from a bandage that you would put on a scratch to high risk products such as pacemakers that are implanted inside the body.
The medical devices industry is experiencing an evolving reasoning for moving away from an input-based approach, that is, inputs from patients and physicians, to a value-and outcome-based approach, that is, improving patient health outcomes. The main aim of this transformational shift is to provide the utmost benefit to a large population alongside a set of controlled resources. The pressure to reduce healthcare expenditure, intensifying competition, and consolidation of hospitals and health systems have resulted in unprecedented changes in the way medical device companies do business. The dynamic marketplace is transforming the traditional way of doing business and requires the medical device manufacturers to rethink their existing business models and create value proposition for customers through innovative products and solutions.
Latest trends in the Medical Devices industry:
- Prototyping Devices Through 3D Printing
- Streamlining Medical Device Manufacturing
- Integrating Medical Devices with IoT
Medical devices applications are included in various domains addressed by Infoholic Research via numerous reports in the following areas:
- Wound care
- Minimally invasive surgeries
- Anesthesia and respiratory
- Urology & gynecology
- Other areas (durable medical equipment, hospital supplies etc.)